KN remains on growth path despite downturn

THE Kuehne + Nagel Group continued its growth course during the first three months of the year and delivered strong results. Compared with the previous year, turnover grew by 9.0 per cent (12.6 per cent excluding currency impact) to CHF 5,310 million. The operational results (EBITDA) improved by 13.9 per cent (17.2 per cent excluding currency impact) to CHF 262 million. Net earnings increased by 18.5 per cent (21.6 per cent excluding currency impact) to CHF 154 million.

K+N’s airfreight business remained strong. Despite a volatile market, the company increased demand for its time-defined airfreight products, raising volumes by 17 per cent. In Europe, business performed particularly well, but the successful expansion of niche products, such as hotel logistics, also contributed to the remarkable result. Cost efficiency and productivity increases improved the operational result by 20.8 per cent. The EBITDA margin increased to 6.1 per cent, compared with 5.7 per cent in 2007.

“Our strong market position, global reach and high value logistics offerings enabled us to generate additional growth and achieve a very good result in the first quarter,” said Klaus Herms, chief executive officer K+N International. “The impact of the economic slowdown is difficult to quantify. We are convinced of the resilience and stability of our business model.”

Share this story

Related Topics

Latest news

‘Biggest product launch in the history of mankind’ set to hit general cargo

By Damian Brett

General cargo shippers using airfreight when a Covid-19 vaccine is launched are set to face capacity shortages and price hikes….

Read More

Share this story

Copenhagen Airport relies on preighter capacity to develop as “airfreight gateway to Scandinavia”

By Rachelle Harry

Copenhagen Airport (CPH) has revealed that continuous ‘preighter’ operations have helped it to establish itself as an “airfreight gateway to…

Read More

Share this story

GlobalX signs up for Vallair A321 freighters

By David Kaminski-Morrow - FlightGlobal

US company Global Crossing Airlines is intending to lease 10 converted Airbus A321 freighters from the asset management specialist Vallair,…

Read More

Share this story