DHL Ireland, the express delivery company, has reported an increase of over 90 per cent in pre-tax profits as international business activity from Ireland continues to increase.
DHL Holdings (Ireland) posted a turnover of €70 million in the year ended 2004, up from €65 million in the previous period. DHL, which faces strong US competition from the likes of FedEx and UPS, is now owned by Deutsche Post.
It posted a pre-tax profit of €5 million in the year under review, up from €2.6 million in the equivalent period in 2003. After tax was paid the company was left with a profit of €4.3 million, up from €2.4 million. The scale of the company's activities is illustrated by the company's total current assets of €20.9 million.
The company paid out €16.4 million in staff costs during the year, including pension contributions. The average number of employees employed by the group was 438. This translates into an average cost per employee, including pension and social welfare costs, of over €37,000 each.
There was directors' remuneration of €362,439 and leasing charges of €3.4 million. The biggest call on profits was a €35 million network fee paid out to DHL's worldwide network. The accounts make it clear that as part of DHL's world wide network the Irish operation benefits from substantial group facilities. The Irish subsidiary also benefited from a loan from its parent.
The comany's ultimate parent is DHL Incorporate registered in Bermuda. The company gets its name from the surnames of its three founders: Adrian Dalsey, Larry Hillblom and Robert Lynn.
At the beginning of 2002, Deutsche Post became the major shareholder in DHL. By the end of 2002, DHL was 100 per cent owned by Deutsche Post. In December 2005 the Exel brand was merged with the rest of the DHL companies. Exel primarily offers transport and logistics products for key customers.
Also part of the DHL companies is Deutsche Post Euro Express which has been in operation since 1997. It moves parcels on behalf of key customers. There is also a company called Danzas which is based in Basel, Switzerland. It is a world leader in air freight and ranks second in ocean freight around the world.
DHL is involved in four airlines: European Air Transport is based in Brussels, Belgium and provides capacity for DHL's European network as well as services to the Middle East and Africa.
DHL Air UK is based at East Midlands airport in England. DHL's Middle East airline is based at Bahrain and serves a wide variety of Middle Eastern destinations including Afghanistan and Iraq, using a variety of regional aircraft. DHL's Latin American airline is based in Panama City.
