Tuesday, July 19, 2016

Freight Forwarding and Logistics Giant Releases Profit Figures

First Six Months of 2016 Looks Healthy for Swiss Group
Shipping News Feature
SWITZERLAND – WORLDWIDE – As one of the largest and most influential freight forwarding and logistics groups in the world Kuehne + Nagel results are often taken as a useful benchmark as to the progress of the industry. Despite a slight decrease in net turnover during the first six months of 2016 the group managed to return an increase in gross profit, up by 8% for the period.

GP was CHF 3,257 million against 3,018 last year and the operating result (EBITDA) rose by 10% to CHF 547 million whilst earnings for the same period hit CHF 365 million, a rise of 9%. Dr. Detlef Trefzger, CEO of Kuehne + Nagel International AG commented:

“The first half of 2016 has been shaped by different regional economic development trends. Global trade showed a lack of growth momentum. Our strategy to focus on organic growth and gaining market shares by offering industry-specific solutions once again led to increases in volumes and results. Our Group delivered a strong performance and has significantly improved gross profit, and therewith increased profit.”

Along with many other leaders in its field the Swiss group has had to pay heavily for the various antitrust actions it has been involved in over the past decade or so but tempered some of these by initiating actions itself with the European Commission thereby avoiding some of the fines levied against fellow forwarders.

Photo: Kuehne + Nagel's distribution centre in Geel, Belgium.