Kuehne + Nagel Reveal Q3 Results
Kuehne + Nagel has significantly increased EBIT and earnings for the period in the first nine months of 2018, achieving strong volume growth, with a particularly dynamic development in seafreight.
Dr. Detlef Trefzger, CEO of Kuehne + Nagel International AG, said: “Kuehne + Nagel has continued its dynamic performance from the first half of the year into the third quarter and achieved a very positive result for the first nine months of 2018.
“The performance in the business units seafreight, airfreight and overland is remarkable.
“In contract logistics, results are as expected negatively affected by investments in the operation platform, which have been realised according to plan in this year.
“Based on the very good results of the first nine months, we expect this year to close successfully.”
In seafreight, Kuehne + Nagel increased the volume by 8.8% and thus grew twice as fast as market.
In the first nine months of the year the company shipped 3.519 million standard containers (TEU), 284,000 more than in the same period of the previous year.
A substantial amount of new business was gained with digital end-to-end solutions, with high demand on the market for the two digital platforms KN ESP and SeaExplorer, launched in 2018.
Airfreight stayed en route for success in the first nine months of 2018 and continued its strong performance from the previous quarters.
Tonnage increased by 16% to 1,302 million tonnes, therewith well above market growth with major contributions from industry-specific end-to-end solutions.
With the recent acquisition of Panatlantic’s business, a perishables airfreight specialist in Ecuador, Kuehne + Nagel continues to strengthen its network in this segment after successfully completing the integration of CFI Commodity Forwarders, the leading perishables provider in the USA.
Success continued in Kuehne + Nagel overland with a net turnover growth of 16.2% compared with the same period of the previous year whilst gross profit increased by 15.6%.
Growth in contract logistics was well above the market with net turnover increasing by 10.6% and gross profit by 10.7%.
Business performance developed well in North America, Asia and Germany and with e-commerce fulfilment solutions.
Results are negatively affected by investments in the operation platform, which have been made according to plan in this year.
Read more: Kuehne + Nagel - World Trade Booming