The Irish subsidiary of logistics giant DHL saw its pre-tax profit rise 13 percent last year to €9.48 million.
DHL Express (Ireland) Ltd reported a profit increase last year, with revenues up 9 percent from €171.98 million to €188.14 million, according to fresh reports.
Profit before tax of €9.48 million follows the €8.4 million figure in 2023.
Last year, the company paid an interim dividend of 5 million euros, which coincided with a similar payment in 2023.
Management said the revenue growth “is a significant achievement given the economic conditions both in Ireland and internationally.”
Directors stress that the organisation was able to increase profitability despite the challenges in the national and global economy.
DHL Ireland provides express express delivery services to 220 countries worldwide.
Directors note that “the core international air freight service – both import and export – which makes the largest contribution to overall revenue, was also a key driver of the growth achieved during the year.”
They claim that the company's “international road freight, domestic transport and same-day delivery services also performed well.”
They report that global supply chains are still impacted by the ongoing conflict in Ukraine and the clashes between Israel and Hamas, as well as the resulting “energy crisis and the impact of high inflation and weak (to the point of negative) economic growth in most of the countries served.”
They add that “despite these circumstances, DHL Express' business in Ireland has shown significant growth in both turnover and profits.”
Directors also mention that the company continues to invest in its network infrastructure, with a particular focus on reducing carbon emissions.
The company has put its first 44 electric vehicles into service during the year as part of its transition to an all-electric fleet, executives said.
Last year, the company's number of employees increased by seven people – from 505 to 512, and personnel costs increased by 2.8 million euros – from 32.7 million euros to 35.5 million euros.
The firm, owned by Germany's Deutsche Post, posted a profit after tax of €8.06 million last year, paying €1.4 million in corporate tax.
At the end of December last year, shareholders' equity amounted to EUR 35.4 million, including accumulated profit of EUR 11.39 million.
Last year's profit included a total non-cash depreciation charge of €1 million, while directors' remuneration amounted to €642,729, comprising €570,691 in salaries, €33,106 in long-term plan benefits and €38,972 in pension contributions.
The profit also included rental expenses of €5.38 million.
Sourse: breakingnews.ie
