Kuehne+Nagel exceeds prior year results

0
280
Kuehne + Nagel makes changes to top management


The Kuehne+Nagel Group has again reported an excellent business performance in the third quarter of 2021. All business units were able to exceed their prior-year results, in some cases significantly. At CHF 21.8 billion (£17.14 billion), the Group’s net turnover in the first nine months of 2021 was almost 50% higher than in the same period last year and EBIT more than doubled to over CHF 1.8 billion (£1.42 billion).

Dr. Detlef Trefzger, CEO of Kuehne + Nagel International AG, said: “In the current situation with supply chains that are difficult to plan, our Kuehne+Nagel experts are working tirelessly to implement the best possible logistics solutions for our customers. We are on track and were again able to achieve an excellent business result in the third quarter. In the coming months, we do not expect any significant change in the constrained market situation.”

Air logistics 

With strong volume growth, air logistics once again posted market share gains in the third quarter of 2021. Globally limited cargo capacities required tailor-made customer solutions, the company reports. Services for pharma and essential goods as well as e-Commerce continued to be in high demand.

Air freight volumes in the first nine months of 2021 were around 50% higher than in the same period of the previous year at 1.6 million tonnes, of which around 20% is attributable to the acquisition of the Chinese air freight forwarder Apex. Net turnover was CHF 6.6 billion (£5.2 billion) and EBIT CHF 645 million (£507 million). The conversion rate was at 41.2%.

QuickSTAT, the global network for time-critical pharmaceutical shipments, was expanded with a new control tower in Singapore.

Road logistics 

Road Logistics was again able to significantly increase shipment volume in the third quarter of 2021. Network capacity utilisation was high in Europe in particular; demand also remained strong in North America. As a special service offering, demand was particularly strong for the digital solution for global customs clearance.

The unit’s net turnover for the first nine months of 2021 was CHF 2.7 billion (£2.12 billion) and EBIT almost doubled to CHF 75 million (£58.9 million) compared to the same period last year.

The digital booking platform for land freight, eTrucknow, again recorded strong growth. The service, which has so far been focused primarily on Asia, is currently being rolled out worldwide and is already available in over 20 countries.