All business units profitable in Q1/2023
For Kuehne-Nagel, the start of the 2023 business year was marked by geopolitical and inflation-related challenges worldwide. Nevertheless, the Switzerland-based global logistics company achieved a high profitability in all business units compared to the years before the pandemic. Net turnover for the first three months of 2023 was CHF 6.7 billion, ebit CHF 612 million and net earnings totalled CHF 462 million.
In Q1/2023, the sea logistics business unit recorded a net turnover of CHF 2.7 billion, while container throughput amounted to 987,000 teu. The air logistics business unit generated a net turnover of CHF 1.9 billion and posted air freight volumes of 475,000 t.
In an overall declining air freight market, Kuehne + Nagel maintained a stable market share while gaining share in areas like the transport of perishable goods, the company said. Road logistics reported a net turnover of CHF 956 million. Around 6 million orders were processed in the first quarter. The networks continued to be well utilised, enabling the unit to post a record quarterly result.
In March 2023, Kuehne + Nagel put the first 23 electric trucks into operation in France; they will be used primarily in urban environments. Net turnover in the contract logistics business unit amounted CHF 1.3 billion. (ben)