DHL's Irish arm reports 13pc rise in profits to €9.48m
New accounts filed show DHL Express (Ireland) Ltd last year recorded the increase in profits as revenues rose by 9pc, from €171.98m to €188.14m.
The €9.48m pre-tax profits follow pre-tax profits of €8.4m in 2023.
The company last year paid out an interim dividend of €5m and this followed a €5m dividend payout in 2023.
The directors said the increase in revenues 'represents a strong performance given the economic conditions in Ireland and indeed internationally'.
The company increased profitability despite the challenges in the domestic and international economy, they said.
DHL Ireland makes deliveries to and from 220 countries.
'The core international air express service – import and export – which represents the largest contribution to total turnover, is also the key driver of the growth generated through the year,' the directors said.
International road, domestic and same-day services also performed well and 'delivered improved results'.
Global supply chains continued to be affected by the ongoing conflicts in Ukraine and the Middle East, the company said, with 'the energy crisis and the impact of high inflation and weak (to negative) economic growth' also having an impact.
'Despite these circumstances, the DHL Express business in Ireland, delivered strong growth in turnover and profit,' the company said.
The company continues to invest in its network infrastructure with a focus on carbon reduction. The directors said that during the year, the company took delivery of 44 electric vehicles as it transitions to an electric fleet.
Numbers employed last year increased from 505 to 512 and staff costs increased by €2.8m from €32.7m to €3.55m.
Owned by the German-based Deutsche Post, the firm last year recorded post-tax profits of €8.06m after paying corporation tax of €1.4m.
At the end of December last, shareholder funds totalled €35.4m, which included accumulated profits of €11.39m.
The profit last year takes account of combined non-cash depreciation costs of €1m, while directors' pay totalled €642,729 made up of €570,691 in emoluments, €33,106 in benefits under a long-term benefit scheme and €38,972 in pension contributions.
The profit also takes account of lease costs of €5.38m.
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