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            november 20, 2019

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LKW Walter

CIBE 2019

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Kuehne + Nagel first half profit up 9.6pc as revenue rises 14.2pc


Swiss forwarding giant Kuehne + Nagel Group posted a 9.6 per cent first half profit increase of CHF390 million (US$389.6 million) drawn revenues of CHF10.06 billion, up 14.2 per cent, according to Shipping Gazette.
In the first six months, the Kuehne + Nagel posted a 10.8 per cent increase in pretax earnings (EBIT) to CHF501 million, as well as a 12.7 per cent more gross profit to 3.8 billion.
"We achieved strong volume growth across all business units. This growth combined with active cost management delivered a significant improvement in results confirming the consistency of the implementation of our business strategy,." said Kuehne + Nagel CEO Detlef Trefzger.
Momentum increased in the second quarter, with 8.1 per cent more sea freight. In the first half, K+N lifted 2.28 million TEU, 172,000 more than in the same period of the previous year.
The company gained significant new business, mainly with its integrated digital solutions; growth drivers were full-container-load shipments (FCL) and project, oil and gas, and marine logistics.
Air freight remained successful in the first half of the year and continued its strong performance from the previous quarters. Tonnage increased 18.1 per cent to 863,000 tons. Industry-specific solutions made a particularly important contribution here.
Kuehne + Nagel's overland transport continued to increase in all business areas. Net turnover rose by 17.7 per cent and gross profit by 16.5 per cent. Dynamic growth was achieved in the European and North American trade lanes. Growth drivers were pharmaceuticals and e-commerce fulfilment.
Contract logistics revenue increased 12.2 per cent and gross profit by 11.3 per cent. New business based on scalable and tailored logistics solutions, particulary in e-commerce fulfilment.
Due to investments in the further development of the business model as well as the launch of a warehouse management system the EBIT was in line with expectations at CHF66 million down on the previous year.
Said K+N chairman Jorg Wolle: "We demonstrated our performance strength yet again. Kuehne + Nagel's agility and efficiency make us confident that the positive development of the company will continue."

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