Strong environment for K+N
Q1/2021 brought large profits for Kuehne + Nagel. Net turnover (CHF 6 billion), ebit (CHF 431 million) and a CHF 318 million profit in this quarter were all significantly above the levels of Q1/2020. The positive turnaround, which had already begun in the second half of 2020, continued in Q1/2021.
At 1.1 million teu, container volumes in Q1/2021 were 2% above Q1/2020. For the first time in more than two years, air freight volumes showed an increase in Q1/2021, rising to 433,000 t (up 16.4% from Q1/2020). Here, net turnover climbed to CHF 1.7 billion and ebit to CHF 163 million. With an organic growth of 4%, contract logistics regained market level.
Following the sale of some of the UK business on 1 January 2021, turnover suffered a light decline in Q1/2021. At CHF 1.1 billion, net turnover in this segment was 9.3% below the same period in 2020, and ebit amounted to CHF 38 million. (sh)