Thursday 29th Oct 2020 - Logistics & Supply Chain

Profits up 5pc at Kuehne + Nagel

Kuehne + Nagel increased operating profit (EBITDA) by 5.1 per cent to CHF 817m (£675m) for the first nine months of the year, despite a slight fall in turnover to CHF 12.2 billion (£10bn).

Gross profit in contract logistics increased by 6.4 per cent compared to the previous year and EBIT improved from CHF 86 (£71m) to CHF 100m (£83m).

In seafreight, container volumes were up 5.4 per cent in the first nine months. Gross profit rose by 4.3 per cent and EBIT improved by 1.5 per cent to CHF 340m (£280m).

Airfreight volumes were up 2.2 per cent on the first nine months of 2015. Gross profit rose by 6.4 per cent. EBIT improved by 8.9 per cent to CHF 220m (£182m).

In the overland business unit, compared to the first nine months of the previous year, net turnover increased by 16.9 per cent and gross profit by 9.4 per cent. EBIT improved by 5.9 per cent to CHF 18m (£15m).

CEO Detlef Trefzger said: “Cautious consumer behaviour in parts of the EU and the USA resulted in lower export volumes in Asia. In addition, the tougher situation in the shipping industry increased pressure on seafreight margins.

“By maintaining our Group’s focus on industry-specific logistics solutions and high-quality services, we succeeded in achieving growth and stable results despite the demanding market environment. We are confident about the business development in the fourth quarter of 2016.”

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