More returns on sea than air freight
Kuehne + Nagel recorded good results for the period January to September 2023, with ebit almost doubling compared to pre-pandemic levels. Net sales for the first nine months of 2023 amounted to CHF 18.2 billion. Ocean freight in particular performed well, with a net revenue of CHF 6.8 billion.
Market share was gained mainly on the Asia-Europe route and in transpacific traffic. This is complemented by the new partnership with Neom, for which Kuehne + Nagel is transporting 1.4 million freight tonnes of equipment for the construction of wind turbines.
Air freight also posted good results, but at CHF 5 billion net revenue remained below ocean freight. Future projects, at Paris airport, for example, are expected to promote the growth in the air freight segment. (mk)