Kuehne+Nagel has announced a net turnover of US$31 billion, earnings before interest and taxes (EBIT) of US$3.1 billion and net earnings of US$2.3 billion in the first nine months of the year, marking the best-ever nine-months results for the company.
From January to September 2022, Kuehne+Nagel achieved significant increases with its net turnover increased by 40%, EBIT by 71% and net earnings by 73%.
Stefan Paul, CEO of Kuehne+Nagel International AG, commented, "Kuehne+Nagel posted its best-ever nine-months results. However, higher energy prices, broad-based inflation as well as geopolitical tensions drive additional volatility in supply chains. At the same time, the easing in sea and air freight markets translates to some relief for our customers. Our asset-light business model is primarily focused upon responding to our customers' worldwide needs in a flexible manner while ensuring a high quality of service."
Net turnover in the business unit Sea Logistics amounted to US$15 billion and EBIT was US$1.7 billion for the period January to September 2022, while the company's container volumes reached 3.3 million TEUs in the same period.
"Overall, complexity in global sea freight markets steadily decreased in the first nine months of 2022, while volatility steadily increased in major trade routes," said Kuehne+Nagel in a statement.
