Kühne + Nagel delivered best results
Despite the economic downturn and a negative currency impact the Kühne + Nagel Group delivered its best results in the financial year 2008. In its financial statements from March 3, the globally acting transport and logistics group showed a turnover of CHF 21.6 billion (+ 3% compared to last year) and a gross profit of CHF 6.25 billion (+ 4%). The operational result remained stable at last year’s level of CHF 1.02 billion. Net earnings grew by 9.1 per cent to CHF 585 million. “The economic slowdown, which accelerated in terms of scope and pace in the last quarter, severely affected the logistics industry”, said Reinhard Lange, Chief Executive Officer of Kuehne + Nagel International AG, in his review. Kühne + Nagel’s biggest business unit was once again seafreight, with an annual turnover of CHF 10 billion. This unit globally disposed 2.67 million TEU during the reference period and had to face a significant decline in cargo volumes in the main Asia-to-Europe and Europe-to-North America trade lanes. However, the airfreight unit increased cargo volumes by 2.1 per cent and hence achieved a slight increase in turnover to CHF 3.87 billion. The road and rail unit reported a turnover of CHF 2.86 billion in the balance sheet of 2008. The contract logistics unit (turnover: CHF 4.7 billion) struggled with a falling demand from a number of large customers in the United States, Canada and Great Britain, which resulted in reduced capacity utilisation and increased margin pressure. The European organisation generated CHF 14.2 billion of the group’s turnover, followed by North-, Middle- and South America (CHF 4.2 billion) and Asia-Pacific (CHF 2.82 billion). For the time being the Kühne + Nagel Management sees no indications that world economy will recover quickly and sustainably. Therefore further volume reductions will have to be expected in all business units. In the financial statements Klaus-Michael Kühne, Chairman of the Board of Directors, announced that the group will react to this development with an enforced cost-reduction programme. Kühne + Nagel has approximately 54,000 employees at 850 locations in over 100 countries. Quelle: Österreichische Verkehrszeitung |
