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            july 19, 2019

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Indiaexportnews.com

Kuehne + Nagel 2016 profit up 6pc to US$713 million, as sales slip 1.4pc

  02.03.2017    

The world's biggest forwarder by container volume, Kuehne + Nagel, posted an annual 6.03 per cent year-on-year profit increase to a record CHF720 million (US$713 million), drawn on revenues of 19.9 billion, down 1.4 per cent.
The Swiss forwarding giant will pay a dividend of CHF5.50 - 10 per cent more than last year.
The company also reported that sea freight container volume exceeded four million TEU for the first time last year.
"With a volume increase of 6.1 per cent, the group grew twice as fast as the market. Less-than-container load (LCL) volume increase and the successful development of the reefer container business are to be emphasised," said the company statement accompanying the results.
Despite productivity increases, earnings before interest and taxes declined 3.1 per cent in comparison to the previous year.
Air freight growth only picked up in the fourth quarter, during which Kuehne + Nagel increased tonnage 4.3 per cent to 1,304,000 tons year on year, thus expanding its position as number two among the global air freight providers.
Its focus on industry-specific air freight solutions such as KN EngineChain, a specialised service package for production and spare parts logistics as well as the maintenance of aircraft engines, was the key to success factor, said the company.
Overland, Kuehne + Nagel increased net turnover in 2016 by 11.9 per cent due to the systematic expansion of the overland activities within and outside Europe.
Following the integration of the United States overland transport provider ReTrans, which has been part of the Group since 2015, Kuehne + Nagel customers in North America benefited from intermodal transport services.
Overland activities were increasingly integrated into industry solutions provided by the other business units. The increase in gross profit by 7.3 per cent as well as the improvement of the operational performance resulted in a significantly higher EBIT.
Focusing on specialised end-to-end solutions for industries such as automotive, e-commerce, high-tech, consumer goods, aerospace, pharmaceuticals and healthcare again resulted in new business wins with a subsequent rise in net turnover by 5.7 per cent in constant currencies.
Said CEO Detlef Trefzger: "We set ourselves ambitious targets for 2016 and we are pleased of having achieved them and to report a new record result."



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