Geopolitical conflicts and the marked increase in the cost of living led to a slight decrease in parcel volumes in some regions. Thanks to our diversified portfolio, however, our business remained resilient, and we are experiencing volumes well above the level from before the pandemic in 2019 in nearly all markets.
eCommerce: Revenue above prior-year level
The revenue generated in the eCommerce division in the year under review totaled €6,315 million, 2.8% above the level of the previous year. Excluding negative currency effects of €174 million, revenue was 5.6% above the prior-year figure. In the fourth quarter of 2023, revenue for the eCommerce division improved by 7.6% to €1,825 million.
EBIT in the eCommerce division declined from €389 million to €292 million in the year under review. This was attributable mainly to higher costs as well as continuous investment in the expansion of the networks. The EBIT margin was 4.6% for the reporting period. EBIT in the eCommerce division amounted to €78 million (previous year: €91 million) in the fourth quarter of 2023 with an EBIT margin of 4.3%.
