Strong demand for Kuehne + Nagel’s transport services continues according to Q1 2022 results.
The group was able to improve all key figures compared to the same period last year.
Net turnover increased by 68 per cent to approx. €11.7 billion, EBIT by 160 per cent approx. €1 billion, earnings by 162 per cent to approx. €808.9 million and free cash flow by almost €972.1 million.
The group’s conversion rate, which reflects EBIT as a percentage of the group’s gross profit, reached 38.1 per cent.
In response to the war in Ukraine, Kuehne + Nagel pledged emergency aid of €9.7 million, available on short notice, in the form of relief goods and free transport services.
“Strong demand for capital and consumer goods continued in the first quarter of 2022,” said Kuehne + Nagel International AG CEO, Dr. Detlef Trefzger.
“In parallel, the already strained supply chain situation deteriorated further. Kuehne+Nagel was well prepared for this scenario and we were able to reliably meet customer demands for high-quality logistics services.”
The business unit Road Logistics once again was able to significantly increase volumes in the first quarter of 2022 which resulted in a well-utilised network.
In the first quarter of 2022, net turnover of the business unit improved by 13 per cent year-on-year to €954.7 million and EBIT by 25 per cent to €29.1 million.