Clearly increased growth dynamic with Kuehne + Nagel
Kuehne + Nagel posted market average-exceeding volume development the first half of 2010
Kuehne + Nagel group’s business goes like clockwork again. In the period from January to June the provider of air freight, sea freight, contract logistics and overland services registered a volume development that exceeded the market average. The management is optimistic about the further development of their business, although continued credit risks in some southern European countries and the situation in international finance markets still require great vigilance, as they state in a press release. In the fist six months of 2010 Kuehne + Nagel’s turnover increased by 15.9 per cent to CHF 9.85 billion compared with the previous year’s period. The operational result grew by 1.9 per cent to CHF 475 million while net earnings improved by 8.9 per cent to CHF 281 million. Earnings before taxes amounted to CHF 358 million (2009: CHF 337 million). “The entire logistics industry has capitalised on the economic recovery, resulting in rising transport volumes and increased warehouse utilisation,” Reinhard Lange, CEO of Kuehne + Nagel International AG, said about the business development. “Thanks to our highly dedicated workforce we were able to smoothly handle our significantly increased volumes and considerably improve productivity levels.” In sea freight business the Kuehne + Nagel group gained market shares on all trade lanes with a volume growth of approximately 20 per cent. As for air freight the volume skyrocketed by 31 per cent. In the overland segment the interim balance showed a 13.3 per cent increase (excluding currency impact) in net turnover. In contract logistics, the enterprise achieved a 4.7 per cent increase at this post. In this segment the management registered that multinational companies showed great interest in cooperating with providers offering global competence and standardised services. Quelle: LogEastics |