Kuehne + Nagel reports volume growth in sea freight
Overland transport of the Kuehne + Nagel group was clearly positive in the first quarter of the year; contract logistics also recorded increased results
The Kuehne + Nagel group had a good start into 2014 in the sea freight segment. Container volume increased by 6.9 per cent or 58,000 TEU on the previous year’s first quarter. “Volumes in the trade lanes from Europe to North America and Asia increased substantially, while the Latin American business did not grow so strongly“, the management board announced in an interim report.
In airfreight, Kuehne + Nagel increased volumes by 1.4 per cent, handling 4,000 tonnes more than in the previous year’s period. Volume increases were mainly realised in Europe and North America, while in Asia, Middle East and Africa tonnage declined in comparison with the first quarter 2013.
The strict implementation of the “Road 2 Profit” strategy resulted in a considerably improved performance. Cost reductions and the favourable development of the European groupage business both influenced results positively. Currency adjusted, net turnover improved by 6.9 per cent, the operational result rose disproportionately to CHF 12 million. The restructuring measures in the contract logistics business unit, combined with new business developments, showed positive effects in the form of substantially improved results.
The Kuehne + Nagel group increased earnings for the period by 11.9 per cent to CHF 150 million in the first three months of 2014 as a result of its concentration on profitable growth. Compared with the previous year’s period, the group’s operational result (EBITDA) increased by 7.3 per cent to CHF 235 million; EBIT was at CHF 190 million, thus 12.4 per cent higher than in the previous year.
Dr. Detlef Trefzger, CEO of Kuehne + Nagel International AG: “In a slightly recovered market environment all our business units performed well and strengthened our market position at the same time. In view of this, we are satisfied with the results in the first quarter 2014. The cost measures introduced one year ago and active margin management have been effective. Our strategy remains unchanged: we will continue to focus on profitable growth.”
Quelle: LogEastics
Portal: www.logistik-express.com