In the first nine months of 2015 the Kuehne + Nagel Group accelerated its growth and results development.
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While net turnover and gross profit slightly decreased due to currency impacts, the operational result (EBITDA) improved by 4.6 percent to CHF 777 million compared with the previous year’s period.
In spite of negative currency effects of 7.5 percent, the earnings for the period increased by 6.7 percent to CHF 512 million.
Seafreight
In the first nine months of the year Kuehne + Nagel exploited growth opportunities in the US import business from Europe and Asia which compensated for the continuous market weakness in exports from Asia to Europe.
Profitability improved substantially in this business unit: Gross profit per TEU increased by 4.4 percent and the EBIT-to-gross profit margin (conversion rate) improved from 30.2 to 32.7 percent. In comparison to the previous year’s period EBIT increased by 11.7 percent.
Airfreight
In a stagnating airfreight market, Kuehne + Nagel grew volumes by 5.1 percent in the first nine months of 2015. The increasing demand for specialised services in the industry segments automotive, pharma, aerospace and perishables contributed to this favourable development as did the good performance in Asia, Europe and North America.
In comparison to the previous year the conversion rate rose from 27.5 to 30.0 percent. EBIT increased by 11.0 percent.
Overland
The overland business reported a stable result. During the first nine months net turnover declined by 12.1 percent due to the discontinuation of project business and lower rates as a result of lower diesel prices.
The acquisition of ReTrans, a US-based provider of multimodal transportation management solutions, consolidated since August 2015, will strengthen Kuehne + Nagel’s market position as an integrated logistics provider in North America.
Contract Logistics
The capability to offer scalable end-to-end solutions in industries including automotive, high-tech, pharma and consumer goods led to numerous new contracts during the first nine months of 2015. However, the restructuring of selective projects in the United Kingdom and currency effects continued to impact the result negatively.
EBIT decreased by CHF 21 million to CHF 86 million compared with the previous year’s period. ■