13.7 C
Hamburg
Saturday, September 26, 2020
Home News Kuehne + Nagel reports enhanced results for sixth time in a row

Kuehne + Nagel reports enhanced results for sixth time in a row

The Kuehne + Nagel Group saw improved results in the 2019 business year. Net turnover increased by 1.5% to CHF 21.1 billion (US$21.7 billion) and gross profit also increased by 3.5% to CHF 8.0 billion (US$8.2 billion) against the previous year. EBIT was up 7.5% at CHF 1.1 billion (US$1.13 billion), exceeding the billion-Swiss Franc mark for the first time. Earnings for the year were up 3.6% at CHF800 million (US$823 million).

Dr. Detlef Trefzger, CEO of Kuehne + Nagel International AG, commented: “In contract logistics, the restructuring of the product, customer and real estate portfolios led to a considerable improvement in results.”
Seafreight
CHF million20192018Change
Net turnover7,4577,129+4.6%
Gross profit1,5391,482+3.8%
EBIT456418+9.1%

Kuehne + Nagel further grew its position as market leader in seafreight in the 2019 business year. Net turnover was up 4.6% at CHF7.5 billion (US$7.7 billion) and gross profit was up by 3.8% at CHF1.5 billion (US$1.54 billion). Thanks to the focused growth strategy and high-quality service, the business unit again achieved growth in a stagnating market. A total of 4.9 million TEU were shipped, 171,000TEU more than last year (up 3.6%).

EBIT increased by 9.1% to CHF456 million (US$469 million) against the previous year. The business unit restored the conversion rate (EBIT to gross profit ratio) to 29.6%, one of the top results in the sector.

Read here the full 2019 annual report of Kuehne + Nagel

Overland

CHF million20192018Change
Net turnover3,5863,526+1.7%
Gross profit1,1211,088+3.0%
EBIT7876+2.6%

 

In the 2019 business year, net turnover for overland grew 1.7% against the previous year at CHF 3.6 billion (US$ 3.7 billion) and gross profit increased by 3.0% to CHF 1.1 billion (US$ 1.13 billion). Kuehne + Nagel gained market share in a weakening market environment.

The business unit added to the European network with the acquisition of Joebstl in Austria as well as Rotra, a leading road transport provider in the Belgium and the Netherlands. Business with large-scale customers continued to drive growth in North America, whilst the intermodal business weakened because of a falling oil price. The business unit expanded its presence in South East Asia with the launch of a new digital booking platform. EBIT improved by 2.6% to CHF78 million (US$80.2 million).

- Advertisment - LR Sustainability Decarbonisation Digital Adverts

Latest Posts

Pitch perfect, curbing energy wastage at sea

As the maritime sector enters a period of transformation to a zero carbon future the onus will be on owners to find mitigating technologies...

Hapag-Lloyd invests in LNG retrofit

German vessel operator Hapag-Lloyd is converting a former UASC ship, the 15,000TEU Sajir, to operate on LNG fuel. Hapag-Lloyd said that using LNG compared to...

Lines argue FMC has no jurisdiction in chassis dispute

The world’s biggest shipping lines have filed a motion to dismiss a US$1.8 billion complaint about equipment use in the US on the grounds...

DP World Australia expects to resolve dockers dispute

Dock workers in Port Botany, Sydney Australia, are expected to reach a negotiated agreement to their dispute with DP World Australia (DPWA) following a...

“Abraham Accords” leads to market buoyancy in Middle East

Maersk Line, the world's largest container shipping carrier, will start to ship boxes between Israel and United Arab Emirates (UAE), as the two countries...