Keuhne + Nagel further improves results
In the first nine months of 2014 the Kuehne + Nagel Group gained market shares and continuously increased volumes. Compared to the previous year’s period, earnings for the period improved by 8.6 per cent.
The situation in the international airfreight market stabilised with volumes growing between 3 and 4 percent. Kuehne + Nagel increased tonnage by 5 percent, representing 40,000 tonnes during the first nine months.
Increased volumes in the European export business and strong growth of specific services for customers from the automotive, pharmaceutical and aviation industries contributed to keep momentum high.
The perishables business grew, especially in the South American trade lanes. Compared to the previous year’s period, EBIT-to-gross profit margin improved from 25.1 to 27.5 percent. The operational result increased by 5.9 percent (currency adjusted by 10.8 percent).
The systematic implementation of the “Road 2 Profit” strategy led to improved results in the third quarter. Sustainable progress was made in the European groupage activities, the overseas business and in the provision of specific industry solutions.
Currency adjusted net turnover grew by 3.2 percent in the first nine months and the operational result improved from CHF 22 million to CHF 47 million. EBIT increased by CHF 27 million compared to the previous year’s period.
The reshaping of the contract logistics project portfolio towards focusing on complex and scalable solutions is proving effective. Target industries include automotive, high-tech, aviation, pharmaceutical and consumer goods.
In addition, the concentration on end-to-end solutions generated new and profitable projects for key accounts. In the first nine months EBIT improved by 8.1 percent (currency adjusted by 10.1 percent) compared to the previous year. Currency adjusted net turnover increased by 5.4 percent; EBIT margin was at 3.3 percent (previous year: 3.1 per cent).
D. Detlef Trefzger, CEO of the Kuehne + Nagel Group said: “Part of our organic growth strategy is to concentrate on internationally operating customer groups, profitable growth and selective market share expansion.
“Additional key success factors include our strict cost control and the continuous enhancement of innovative solutions. This is clearly demonstrated by the positive development of our overland operations. The consistent implementation of our market strategies is leading to sustainable success.”
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