K+N air freight volumes edge ahead

KUEHNE + NAGEL saw airfreight volumes increase 1.4 per cent in the 2014 first quarter to 285,000 tons, although divisional air cargo turnover fell 0.9 per cent to just over SFr1bn.
The Switzerland-based logistics operator said that the volume increases in air cargo were mainly realised in Europe and North America, while in Asia, Middle East and Africa tonnage declined in comparison with the first quarter 2013.
K+N’s airfreight volume increase was slightly below the market’s estimated average benchmark increase of 2-3 per cent in the first three months of 2014.
The division’s conversion rate (EBIT-to gross profit-margin) improved from 24.2 per cent in the first quarter 2013 to 28.3 per cent, while the EBIT of SFr62m was up 17.0 per cent compared with the first three months 2013. Air cargo’s gross profit was unchanged at SFr219m for the period.
Rival air cargo logistics operator Panalpina will report its first quarter results at the end of April, while DHL will post its quarterly figures in mid-May.