Freight Forwarders

Tonnage soars 20% in Q1 at Kuehne + Nagel

Kuehne + Nagel’s air freight tonnage soared 20 per cent in the first quarter (Q1) of this year to 422,000 tonnes, compared to Q1 in 2017.

The freight forwarder said the division continued to build on its previous year’s outstanding performance, with “solution-oriented, industry-specific offerings”, which also included the successful integration of two acquisitions.

Particularly strong growth was recorded for exports from North America where EBIT rose by 12.5 per cent from the already very high level of the previous year, reaching CHF 81 million.

Overall net turnover was up 13.1 per cent to 4,862 million CHF, while gross profit was up 11.8 per cent to 1,843 million CHF and EBIT was up 12.9 per cent to 236 million CHF.

Kuehne + Nagel chief executive officer, Detlef Trefzger said: “We have made a successful start into the business year and achieved clear increases in volume across all business units. Building on this growth combined with further productivity improvements we were able to considerably increase our results in the first quarter.

“At the start of the new year we implemented two new digital platforms globally, SeaExplorer and KN ESP, addressing specific customer requirements and creating significant efficiency gains.

“Another important milestone is the opening of two innovation centres where we we develop innovative solutions in contract logistics together with customers. We are determined to continue on this path.”