Kuehne + Nagel feels worldwide muted consumption

Transport and logistics group Kuehne + Nagel is getting back on track to achieve the profitability and productivity goals set for the full year 2012
 
The Kuehne + Nagel group registers an upwards trend after a weak start into the business year. The group is by its own account getting back on track to achieve the profitability and productivity goals set for the full year 2012. In a globally difficult economic environment the focus has been set on “achieving profitable growth through quality leadership”, said Karl Gernandt, Chairman of Kuehne + Nagel International AG, when presenting the Half-Year Results 2012. According to him Cost control measures showed already a positive effect. 
 
The Kuehne + Nagel group achieved volume growth above market average in the period from January to June 2012. Turnover increased by 2.8 per cent to CHF 10,062 million. Gross profit improved by 2.6 per cent to CHF 3,032 million. The operational result (EBITDA) declined by 9.6 per cent to CHF 454 million. Net earnings excluding the one-off item for the antitrust fine in the first quarter were 11.1 per cent below the previous year’s period at CHF 279 million; including the one-off item the result was at CHF 214 million. 
 
"In the first half of 2012, muted consumption in all parts of the world and increased market volatility influenced the global logistics business,” said Reinhard Lange, CEO of Kuehne + Nagel International AG. ”Softened demand affected in particular the trades from Asia to Europe and North America and slowed down volume development in seafreight and airfreight. Nevertheless, we achieved above market volume growth in both segments. Our industry-specific logistics solutions contributed positively to this development.” 
 
With transport volumes increased by 8 per cent, Kuehne + Nagel more than doubled global seafreight market growth of approximately 3.5 per cent. In the Asia-Europe trades, however, volumes stagnated. The general situation of the group’s  global airfreight business showed a tonnage increase of about 1 per cent compared to the previous year’s period. Despite difficult market conditions, overland activities in the fields of groupage, full and part loads were successfully expanded. Currency adjusted, net turnover increased by 9.8 per cent. In contract logistics net invoiced turnover adjusted for currency effects increased by 6.9 per cent due to solid demand in North Europe, Asia and South America.

Quelle: LogEastics

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