Logistics group sees profitability per unit rise in sea and air logistics, with increased demand for flexible services
The Kuehne & Nagel Group has announced that it achieved net turnover of CHF6.49bn during the third quarter of 2024 (Q3), growth of 19 per cent year-on-year.
EBIT for the quarter climbed 2 per cent to CHF455mn, while earnings rose 6 per cent to CHF339mn.
The logistics company noted it was the first time since the end of the Covid-19 pandemic that EBIT and profit increased both quarter-on-quarter and year-on-year.
In its financial report, it highlighted increased demand for flexible logistics services due to renewed supply chain disruptions, and higher quarter-on-quarter profitability per unit in sea and air logistics.
“The highly flexible logistics solutions of Kuehne & Nagel have once again proven to be a clear advantage for our customers in the face of increasing supply chain disruptions worldwide,” said Stefan Paul, group CEO. ”This is also reflected in our positive business development.
”The strategic streamlining of the company by removing the regional structure is beginning to bear fruit.
”We have also reached an important milestone in our strategy with the seamless migration to the cloud of our sea and air logistics transport management system,” he outlined.
From January to September 2024, the group achieved net turnover of CHF18bn, which meant a fall of 1 per cent on the previous year.
EBIT stood at CHF1.2bn, a drop of 22 per cent, while earnings dropped 23 per cent to CHF915mn.
