Responding to Market Challenges
Kuehne+Nagel has announced a Group-wide cost-reduction programme exceeding CHF 200 million per year to address persistent overcapacity and margin pressure in global logistics markets. The initiative includes structural and sustainable measures aimed at improving efficiency through automation, process optimization, and shared service centres.
For the first nine months of 2025, the Group recorded a 3% increase in net turnover to CHF 18.5 billion, EBIT of CHF 1.0 billion, and earnings of CHF 761 million. Despite strong free cash flow of CHF 521 million, profitability declined due to tough market conditions and currency effects.
Strategic Progress in Air and Sea Logistics
Kuehne+Nagel gained market share in Air Logistics by investing in services for cloud infrastructure and perishables. In Sea Logistics, the company strengthened its position in the SME segment, now accounting for over half of its customer base.
“Despite very challenging market conditions, Kuehne+Nagel gained market share through targeted investments in key areas,” said Stefan Paul, CEO of Kuehne+Nagel International AG. “Our cost-reduction programme will protect our competitiveness while maintaining high-quality customer service.”
Segment Performance Overview
Sea Logistics
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Net turnover: CHF 7.0 billion
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EBIT: CHF 479 million
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Volume: Up 1% to 3.3 million TEU
The segment was affected by declining volumes to the US but saw import growth in Europe.
Air Logistics
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Net turnover: CHF 5.4 billion
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EBIT: CHF 322 million
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Volume: Up 7% to 1.6 million tonnes
Growth came from perishables and hyperscale data centre logistics, supported by new gateways in India, Canada, Italy, and Spain.
Road Logistics
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Net turnover: CHF 2.6 billion
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EBIT: CHF 67 million
Demand in Europe remained weak, while customs services in the US stayed strong amid tariff complexities.
Contract Logistics
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Net turnover: CHF 3.6 billion
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EBIT: CHF 161 million
The company expanded its partnership with Lego, opening a new distribution centre near Ho Chi Minh City to serve Southeast Asia and beyond.
Outlook
Kuehne+Nagel expects EBIT for FY2025 to exceed CHF 1.3 billion, despite trade tensions and ongoing market uncertainty in Q4. The company also confirmed that Partners Group will sell its 24.9% stake in Apex, with settlement expected in Q4 2025.
Kuehne+Nagel remains focused on safeguarding profitability, improving productivity, and sustaining long-term growth through operational excellence and disciplined cost management.
