Thursday, June 26, 2025
Home Most Popular Kuehne+Nagel records net turnover of US$6 billion

Kuehne+Nagel records net turnover of US$6 billion

Global transport and logistics company Kuehne + Nagel International AG saw a gradual uptick in demand for transportation services, particularly in the Sea and Air Logistics divisions of the company.

During the first quarter, Kuehne+Nagel recorded a net turnover of US$6 billion, earnings before interest (EBIT) of US$410 million and earnings before minorities totalling US$305 million.

Despite an overall decline, these results were influenced by a 3% negative impact from exchange rate fluctuations compared to the previous year, noted the company.

In the first quarter of 2024, the group’s conversion rate, representing the ratio of EBIT to gross profit, reached 18%, marking a notable increase from the pre-Covid level of 12% observed in the first quarter of 2019. Overall, these figures surpass corresponding pre-pandemic levels.

Kuehne+Nagel Group Q1 2024 Q1 2023 Percentage of Decrease
Net turnover US$6 billion (CHF5.5 billion) US$7.3 billion (CHF6.75 billion) 18%
Gross profit US$2.25 billion (CHF2 billion) US$2.6 billion (CHF2.4 billion) 13%
EBITDA US$630 million (CHF576 million) US$880 million (CHF803 million) 28%
EBIT US$410 million (CHF376 million) US$665 million (CHF612 million) 39%
Earnings US$305 million (CHF278 million) US$505 million (CHF462 million) 40%

Stefan Paul, CEO of Kuehne+Nagel International AG, commented, “In a challenging environment, Kuehne+Nagel started the business year 2024 with solid but lower year-over-year results. Our focus on efficiency and streamlined structures allowed us to reduce costs per unit by 12% in Sea Logistics and 14% in Air Logistics. By discontinuing the regional structure, we have laid the foundations for further growth and enabled more direct access to our customers worldwide. Additionally, we have strengthened our offering for our South East Asia customers through our strategic acquisition of City Zone Express, a Penang, Malaysia-based Road Logistics service provider.”





Latest Posts

Maersk unveils “Trade & Tariff Studio” to simplify customs management

Maersk has launched Maersk Trade & Tariff Studio, an AI-driven customs-management platform. Lars Karlsson, Global Head of Trade & Customs Consulting at Maersk stated that...

Solstad renews partnership with Marlink

Solstad has renewed its long-standing partnership with Marlink to advance its digitalization strategy through to 2028. Under the new agreement, Marlink will deliver SealinkNextGen, a...

KEZAD and Witthal Gulf Industries sign deal to launch recycling plant

Khalifa Economic Zones Abu Dhabi Group has signed a 50-year land lease agreement with Witthal Gulf Industries for the establishment of the country’s first...

Emirates Shipping Line announces new service to Seattle

Emirates Shipping Line has announced its entry into the United States market with the launch of the Sun Chief Express service, a direct, fortnightly...

Port of Long Beach approves $833 million budget

The Long Beach Board of Harbor Commissioners has approved an $833 million budget for fiscal year 2026, nearly half of which will go toward...
error: Content is protected !!