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            october 21, 2019

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Kuehne + Nagel profit up 23pc


Swiss forwarder giant Kuehne + Nagel, ranked No 2 behind DHL, posted a year-on-year 23 per cent increase in net profit in 2013 to CHF597 million (US$678.8 million), drawn on revenues of CHF17.1 billion, up .03 per cent.
In 2013 Kuehne + Nagel handled a total of 3.6 million TEU, an increase of three per cent compared to the previous year.
"In a stagnating air freight market, Kuehne + Nagel realised profitable growth and raised tonnage four per cent to 1.1 million tonnes. Air freight performed well in Europe, Asia, and the Middle East and Africa," said CEO Detlef Trefzger.
After a weak first quarter in road and rail logistics, the company continuously improved operating profit, he said.
"This was mainly due to the new strategy, Road 2 Profit. It is based on the three distinct segments groupage - full and part loads and industry-specific distribution as well as product innovation and central purchasing," said Dr Trefzger.
"In contract logistics, a remarkable improvement of results was achieved. With an EBIT increase of 89.1 per cent, Kuehne + Nagel managed to almost double profit," he said.
Dr Trefzger attributed the success to shutting down unprofitable locations, reducing idle space worldwide.
"Margins increased from 3.4 per cent in the previous year to 4.1 per cent. The extension of the service portfolio generated substantial new business. New customers were gained especially within the pharmaceutical and e-commerce industries," he said.
Said chairman Karl Gernandt: "2013 was characterised by remarkable changes in personnel, structures and product focus. The group streamlined its internal structures efficiently and established a new management team and achieved a very good result."
Kuehne + Nagel employs 63,000 at 1,000 locations in 100 countries. Its strong market position lies in the sea freight, air freight, contract logistics and overland businesses.

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