Kuehne + Nagel maintains growth momentum
Kuehne + Nagel Group: Expansion of activities in all business units according to plan and increase in productivity in the first quarter 2011
The globally operating Kuehne + Nagel Group maintained its growth momentum in the first three months of 2011 and, in line with its objectives, gained market share in all business units. Despite strong negative currency effects, turnover rose by 4.7 per cent (currency adjusted: 17 per cent) to CHF 4,82 million, while the operational result (EBITDA) increased by 9.2 per cent (adjusted: 21 per cent) to CHF 249 million. Net earnings improved by 17.6 per cent (adjusted: 29.8 per cent) to CHF 154 million, as the management board announces in a press release. In seafreight, Kuehne + Nagel increased container volume by 14 per cent while – according to first estimates – the global container market grew between 7 and 8 per cent. The enterprise achieved highest growth in the trade lanes to and from Latin America as well as to and from the Middle East. With a 21 per cent increase in volume, the airfreight business exceeded expectations and outperformed the market. As for European overland business net turnover for this quarter of the year increased by 15.1 per cent (currency adjusted). In the contract logistics business unit net invoiced turnover rose by 7.9 per cent (currency adjusted). "The good results in the first quarter underline the value of our global logistics capabilities, flexibility and operational efficiency in a market influenced by different economic conditions, political unrest and natural disasters," said Reinhard Lange, CEO of Kuehne + Nagel International AG. "As planned we expanded our activities in all business units while at the same time increasing productivity.” Quelle: LogEastics |