Kuehne + Nagel reports excellent performance in airfreight

Negative currency effects decelerated dynamic trend in the development of K+N results in the first six months of 2014; Seafreight suffered from this trend in particular

The focus on internationally operating customer groups with demanding logistics and supply chain management requirements, combined with the provision of industry-specific logistics solutions, bears fruit for the Kuehne + Nagel group. The group was able to achieve volume growth in all business units in the first half of 2014. At the same time effective cost management supported the improvement of results.

Dr. Detlef Trefzger, CEO of the Kuehne + Nagel Ggroup said “Once again the excellent performance in airfreight is to be highlighted. The overland business unit has successfully continued its turnaround and in contract logistics profitability further improved. However, our results were negatively impacted by the strong Swiss Franc. Seafreight results suffered from this trend in particular despite the solid growth and high productivity achieved in this business unit.”

With seafreight volumes increasing by more than 8 per cent Kuehne + Nagel grew twice as fast as the market. In total, the company handled 1.892 million TEU, 143,000 TEU more as in the same period of the last year. The group gained additional market shares particularly in the export business from Asia, Europe and North America.

The international airfreight market experienced a moderate recovery in the first six months of the year, with volumes increasing between 3 and 4 per cent. Kuehne + Nagel saw its volumes grow by 4 per cent, after a modest start to the 2014 business year. The primary factors for this positive development were the intensified sales of specific solutions for the automotive, pharmaceutical and aviation industries as well as the increase in tonnage especially in the European and South American export business.

Due to the systematic implementation of the “Road 2 Profit” strategy, results in the overland business unit further improved. Currency adjusted net turnover grew by 5.5 per cent in the first half of 2014. The continuous implementation of the master location plan as well as the company-wide concentration on global customers with complex logistics and supply chain management requirements resulted in a profitability increase in contract logistics and enabled Kuehne + Nagel to further strengthen its project portfolio.

Compared to the previous year’s period, net earnings improved by 8.3 per cent (currency adjusted by 12.8 per cent) to CHF 313 million. EBIT increased by 8.2 per cent (currency adjusted by 12.8 per cent) to CHF 396 million and the operational result (EBITDA) by 4.5 per cent (currency adjusted by 8.8 per cent) to CHF 487 million. Gross profit at CHF 3,107 million was slightly below the previous year’s level, currency adjusted it increased by 3.1 per cent.

www.kn-portal.com

Quelle: LogEastics
Portal: www.logistik-express.com