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).
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$469 million) against the previous year. The business unit restored the conversion rate (EBIT to gross profit ratio) to 29.6%, one of the top results in the sector.
In the 2019 business year, net turnover for overland grew 1.7% against the previous year at CHF 3.6 billion (US$ 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).