Kuehne + Nagel has seen profits increase by 5.4 per cent to 679 million Swiss francs in 2015 ($680 million) with strong performance in the airfreight division.
The airfreight division saw earnings before interest and tax (EBIT) increase from 238 million Swiss francs in 2014 to 265 million Swiss francs in 2015. This is despite airfreight turnover falling from 4.2 billion Swiss francs in 2014 to four billion in 2015. It says tonnage increased by 4.7 per cent to 1.2 million tonnes, helped by contract wins in the pharmaceutical, aerospace and perishable sectors.
Kuehne + Nagel chief executive officer, Dr Detlef Trefzger says: “We are proud that in a challenging environment we were able to further increase profitability and once again achieve a new record result. This positive performance was driven by both the effectiveness of our efficiency programmes and the successful implementation of strategic initiatives.”
Kuehne + Nagel chairman of the board of directors, Karl Gernandt says: “The market environment will again remain challenging in the current year but our resilient business model, strong leadership and, above all, the commitment of all employees worldwide allow the board of directors to be optimistic that the company’s positive development will continue.”
Net turnover for the whole company was down 4.4 per cent from 17.5 billion Swiss francs to 16.7 billion Swiss francs, which is says is mainly because of the Swiss franc’s strength again the euro.