K & N: good overall performance, air freight stays afloat
The Kuehne + Nagel group recorded a significant improvement in its results in the business year 2019. Compared to the previous year, net turnover increased by 1.5% to CHF 21.1 billion, and gross profit rose by 3.5% to CHF 8 billion. Ebit improved by 7.5 to CHF 1.1 billion, breaking the 1 billion barrier for the first time. Earnings for the year were up 3.6% at CHF 800 million.
Detlef Trefzger, CEO Kuehne + Nagel International: "In a changing market, our strategy proved successful. In sea freight and overland traffic, our focus on customer service, cost efficiency, operative systems and digitalisation paid off. In the more volatile air freight market, we consolidated our overall results on the level of 2018. In contract logistics, restructuring measures considerably enhanced our performance in the product, customer and real estate portfolios."
The Emea region (Europe, Middle East and Africa) contributed CHF 12.8 billion (60.8% of the total) of net turnover. The Asia Pacific region posted net turnover of CHF 2.5 billion (1.7%), while the Americas region generated net turnover of CHF 5.8 billion (27.5%). (mw)