Kuehne + Nagel reports strong Q1 results
Kuehne + Nagel maintained its growth momentum in the first three months of 2011 and gained market share in all business units. Despite strong negative currency effects, turnover was up 4.7% to CHF 4,820 million, while EBITDA increased by 9.2% to CHF 249 million and net earnings rose by 17.6% to CHF 154 million. Seafreight Kuehne + Nagel achieved highest growth in the trade lanes to and from Latin America as well as to and from the Middle East. The Group also increased volumes in transpacific and intra-Asian trade lanes. In the first three months of 2011, EBITDA improved by 15.5% to CHF 112 million. Airfreight In all regions, Kuehne + Nagel benefited from its investment in sales and its industry-specific product offering. Following the acquisitions in South America, volumes significantly increased in the perishables segment. Double-digit growth was also achieved in worldwide exports for the automotive industry. Due to the above-market average volume growth and increased productivity, EBITDA was up 28.6% to CHF 63 million. Road & rail logistics EBITDA remained stable on last year’s level, despite continuous price pressure, fierce competition and investments into the expansion of the European groupage network and its full and part load activities. The results of the recently acquired RH Freight (UK) will be consolidated as at April 2011. Contract logistics New business wins contributed to a reduction of idle space from 12% to 7% compared with the previous year’s first quarter. However, start-up costs for various new projects negatively impacted EBITDA, which was 8.9% below the preceding year. According to Kuehne + Nagel CEO Reinhard Lange, while it’s difficult to forecast the world economic development in the months to come, the Group is confident that its resilient integrated business model will support the continuation of its strong performance. Quelle: eyefortransport |
