Global logistics provider, Kuehne + Nagel, has announced a strong first half of 2022 across all of its business units.
In the first six months of the year, Kuehne + Nagel’s net turnover rose by 55 per cent year-on-year (YOY) to €21 billion.
The company also saw an EBIT growth of 112 per cent to €2.2 billion, a gross profit of 36 per cent to €6 billion and a growth in earnings by 113 per cent to €1.6 billion.
Kuehne + Nagel International AG CEO, Dr Detlef Trefzger, said the constant uncertainties and obstacles in global supply chains during the year didn’t take effect on the company’s results.
“The Covid-related lockdowns in China, the invasion of Ukraine, the exceptionally strong increase in energy prices and high inflation resulted in an even more challenging business environment,” he said.
“Based on our digital platforms and industry solutions, as well as the tireless efforts of our employees, we were able to deliver efficient, complex logistics solutions for our customers.”
In Kuehne + Nagel’s Road Logistics unit, its networks were fully utilised in all regions, and as a result, shipment volumes again significantly increased in the first half of 2022.
The unit recorded a net turnover of €2 billion, up by 12 per cent YOY, a gross profit of €696 million and an EBIT of €81 million, 48 per cent up YOY.
The company’s Contract Logistics unit again achieved very high utilisation of warehouse space in the first half of 2022, and consistently expanded its range of services for healthcare and e-commerce fulfilment.
Reflecting its positive performance, the unit saw a net turnover of €2.4 billion, 7.0 per cent higher than during the same period last year.
It also recorded an almost-identical gross profit to 2021 of €1.6 billion, and a 13 per cent-higher EBIT of €82 billion.
Kuehne + Nagel International AG Chairman of the Board of Directors, Dr Joerg Wolle, said the company continued to deliver during geopolitical and macroeconomic turmoil.
“Even in this challenging environment, Kuehne + Nagel delivers what it promises: a strategically excellently positioned group that impresses with innovative customer solutions based on a global, highly adaptive network,” he said.
“As such, we expect demand for high quality services to remain solid in the second half of 2022.”
In other news, Kuehne + Nagel launched an Electric Vehicle (EV) service for airport transfers in Mumbai, India, last month.