Kuehne + Nagel releases Q1 2021 results

Strength in transport services, particularly pharma and e-commerce fulfilment, underpinned Kuehne + Nagel’s latest performance report.

The business claims it secured an excellent result with a net turnover of approx. €5.4 billion, EBIT of €390.9 million and earnings for the period Q1 2021 of €288.4 million were all significantly higher year-on-year.

“Exactly one year ago, when we were still at the beginning of the pandemic, we decided to commit to our proven strategy,” said Kuehne + Nagel International AG CEO Dr Detlef Trefzger.

“Upon reflection, we are assured that we chose the correct path: in the first quarter of 2021, we were well-prepared to serve our customers’ robust demand for high quality logistics services despite the tense market environment.

“We expect this environment to remain challenging for the remainder of another atypical year.”

In Road Logistics, the first quarter of 2021 was characterised by a significant increase in consignment numbers and a return of European national transport capacities to prior year levels. After a weak start, UK transport demand recorded a noticeable recovery throughout the remainder of the quarter.

In the first quarter of 2021, Contract Logistics returned to organic growth of 4.0 per cent, in line with the market. As a result of the divestment of part of the UK business as of 1 January 2021, turnover declined in the first quarter of 2021.

The pharma business and e-commerce fulfilment activities again had a positive impact. In March, the business unit entered into a strategic partnership with Jointown, the largest non-state pharmaceutical distributor in China.