German-owned forwarder DB Schenker’s airfreight business grew by 11.4% to reach 613,000 tonnes in the first half of 2017, said Deutsche Bahn AG’s chief executive Dr. Richard Lutz at a press conference to announce the holding company’s interim results.
The overall airfreight market was estimated to have grown by around 9% during the first half of the year.
Ocean freight at the company rose 8.9% to 1.06m teu in the same period, while contract logistics boosted its currency-adjusted revenues by 5.7% to €1.3 billion.
Overall, the holding company – which includes the German rail operator as well as overseas passenger transport subsidiaries – increased its revenue by 5.1% to €21.1bn and EBIT earnings by 17.% to €1.2 bn.
Much of Dr Lutz’s speech was devoted to Deutsche Bahn AG’s efforts to turn around the fortunes of the German railways. However, he said: “We are particularly pleased with growth in our air and ocean freight business.”
Growth during the period was ahead of Panalpina, which registered an air cargo increase of 7% for the first half, but lags behind the 18% improvement at Kuhne+Nagel.
