Solid first half results for Kuehne + Nagel

Global transport and logistics company, Kuehne + Nagel, has reported first half financial results that are greater to the comparable figures of the pre-pandemic period.

Net turnover for the first six months of 2023 was 12.7 billion CHF (approx. €13.3 billion), EBIT was approximately 1.1 billion CHF (approx. €1.2 billion)  with earnings of 860 million CHF (approx. €900.2 million). The conversion rate, which describes the ratio of EBIT to gross profit of the Group, remained at a high level of 24 per cent.

“Kuehne + Nagel coped well with the transition from the exceptional economic situation shaped by the pandemic,” said CEO, Stefan Paul. “In a weakened economic environment, Sea and Contract Logistics gained market share and kept earnings stable. In contrast, volumes in Air Logistics declined broadly in line with the market.”

Its strategic plan, according to the company, is unchanged with a focus on high-quality logistics services and an extraordinary customer orientation.

In other news, an event transportation specialist has added an additional 20 S.BO EXPRESS trailers from Schmitz Cargobull to its business.

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