Thanks to comprehensive cost reductions and reinforced sales activities Kühne + Nagel Group could get away with a black eye concerning gross profit in the first three months of 2009. With CHF 1.44 billion last year’s reference figure was missed by 7.1 per cent. Operative result fell 12.2 per cent to CHF 230 million. Net profit dropped 16.9 per cent to CHF 128 million. Between January and March 2009 turnover fell 19.2 per cent to CHF 4.29 billion.

When announcing these figures, Reinhard Lange, CEO of Kühne + Nagel International AG, could not give an outlook concerning the expected date of an economic recovery. Thus the group will adhere to its dual strategy of rigorous cost control with a commitment to market share expansion, as the Manager announced.

In the first three months of 2009 Kühne + Nagel recorded a 13 per cent decline in sea freight volumes. Despite intensified sales activities air freight volumes showed a year-on-year decline of 17.9 per cent. Also order volumes in the segments of land transport and contract logistics weakened further.

Quelle: Österreichische Verkehrszeitung