The Kuehne+Nagel Group delivered strong operational results in the first half of 2025, navigating various external headwinds successfully.
Net revenue rose 8% year-over-year to CHF 12.5 billion, representing a 12% increase when accounting for currency fluctuations. EBIT reached CHF 744 million, while earnings totaled CHF 555 million. Volume growth was particularly notable in Air Logistics.
First-half 2025 profits faced pressure from adverse currency movements of 3% and exceptional Contract Logistics expenses of CHF 16 million (recognized in Q2).
Sea Logistics experienced the most significant currency challenges due to its US Dollar denomination, followed by Air Logistics and remaining business segments.
Core earnings projections and 2025 outlook remain stable. Considering currency headwinds exclusively, Kuehne+Nagel anticipates recurring EBIT between CHF 1.45 billion and CHF 1.65 billion.
Stefan Paul, CEO of Kuehne+Nagel International AG, commented that their robust operational results in the first half of 2025 again highlighted our adaptability within a demanding market landscape. Sea Logistics volumes grew 2%, while Air Logistics expanded 7% substantially exceeding overall market expansion.
Sea Logistics net revenue climbed 16% year-over-year during the first half of 2025 to CHF 4.7 billion. EBIT totaled CHF 368 million, substantially affected by unfavorable exchange rate impacts. The conversion rate stood at 34%.
Container volumes increased 2% year-over-year to 2.1 million TEU in the first half of 2025. Kuehne+Nagel achieved notable market share expansion on the Asia-Europe trade corridor.
Air Logistics net revenue grew 8% year-over-year in the first half of 2025 to CHF 3.6 billion. Air freight volumes expanded 7% year-over-year to 1.1 million tonnes during the first half of 2025.
Road Logistics generated CHF 1.8 billion in net revenue during the first half of 2025 with CHF 47 million EBIT. The road network remained underutilized due to weak European market demand.
Through acquiring Spanish groupage logistics company TDN, Kuehne+Nagel enhanced its Iberian Peninsula operations and substantially expanded regional customer coverage. The acquisition concluded at the end of Q2 2025.
Contract Logistics recorded CHF 2.4 billion net revenue in the first half of 2025 with CHF 99 million EBIT. Results included an exceptional CHF 16 million provision connected to an ongoing cross-industry investigation in Italy.
Operationally, Q2 2025 marked the business unit’s strongest quarter historically.
In June 2025, Contract Logistics extended its established Louis Vuitton partnership and launched a new Tokyo distribution center for Japanese market service.
Dr. Joerg Wolle, Chairman of the Board of Directors of Kuehne+Nagel International AG, stated that during the first half of 2025, Kuehne+Nagel again produced excellent operational performance amid geopolitical uncertainty.
