The Kuehne+Nagel Group has reported an improvement in all key financial figures for the first quarter of 2025.
Compared to its Q1 2024 figures, the company reported a net turnover growth of 15 per cent, year-over-year, of €6.7 billion (6.3 billion CHF ).
Its EBIT for Q1 increased by 7 per cent to €428 million (402 million CHF) and earnings rose by 9 per cent to €323 million (303 million CHF).
Kuehne+Nagel International AG CEO, Stefan Paul, said the company started the new financial year in strong fashion.
“We increased our market share, gained new customers, and also improved profitability,” he said.
“Despite the challenging global economic environment, the company achieved double-digit growth in net turnover.
“We remain well prepared and positioned to implement our strategic objectives.”
All four key business units – Sea, Air, Road and Contract Logistics – grew in net turnover, with Road Logistics reporting a modest increase of 1 per cent (€927 million or 871 million CHF) from Q1 last year.
That business unit also reported a 2 per cent increase in gross profits, but a 37 per cent drop in EBIT (€20 million or 19 million CHF).
The company said the general cargo business declined compared with the previous year due to weak demand in the European markets.
It did not expect the market situation would change in the near future.
In the first quarter of 2025, net turnover in Sea Logistics rose by 30 per cent year-over-year for Kuehne + Nagel, reaching €2.66 billion (CHF 2.5 billion), while EBIT rose to €224 million (210 million CHF).
The increase was attributed to the first-time consolidation of US-based IMC Logistics in January 2025.
Net turnover for Air Logistics rose by 13 per cent to €1.9 billion (1.8 billion CHF) and EBIT by 23 per cent to €123 million (116 million CHF). This increase was due to the unit handling 514,000 tonnes of freight in the first quarter of 2025, 5 per cent more than in Q1 2024.
Net turnover for the Contract Logistics business unit in Q1 2025 rose 3 per cent, totalling €1.28 billion (1.2 billion CHF), with EBIT rising 4 per cent to €61 million (57 million CHF).
The company sees its Contract Logistics unit as continuing a growth trajectory, after it opened new fulfilment centers for Sanofi in Turkey and for Rolls Royce in Dubai.
In light of the elevated and fluctuating level of market uncertainty, including global tariff developments, the Kuehne+Nagel Group said it would not currently update the Group recurring EBIT guidance for the current year, being €1.6 billion to €1.86 billion (CHF 1.5 billion to 1.75 billion CHF).
