Net turnover and gross profit fell slightly in the first half of 2015, but a number of factors helped the Kuehne + Nagel Group improve its operational result, among them a strong airfreight performance.
Tonnage rose by 5.2 per cent over the first six months of the year. Airfreight turnover (external customers) fell from two billion Swiss francs ($2.1 billion) to 1.9 billion Swiss francs year on year (YOY).
Gross profit for the airfreight segment rose from 439 million Swiss francs to 445 million Swiss francs YOY, helped by a fall in expenses and a reduction in customs duties and taxes.
Significant volume increases were seen in exports from Europe, North America and Asia.
The expansion of services for customers in the perishables, pharmaceuticals and industrial goods segments contributed further to the development of Kuehne + Nagel’s airfreight operation.
The conversion rate improved from 27.8 per cent in the first half of 2014 to 30.6 per cent in the first six months of 2015. EBIT increased year on year by 11.5 per cent for the same period.
Kuehne + Nagel International chief executive officer, Detlef Trefzger, says: “Given the demanding market environment and currency volatilities, we are very pleased about the development of our results in the first half of 2015.
The solid performance in seafreight and the increased profitability in airfreight are to be highlighted. Due to our proven business model and the consistent implementation of our global strategy, we were able to increase the earnings for the period despite the stronger Swiss franc.”
The Swiss firm’s net turnover for the first six months was 8.2 billion Swiss francs and gross profit was three billion Swiss francs.