K+N posts first half growth of 11%

In airfreight, Kuehne + Nagel increased tonnage by 18 per cent, in spite of sharply declining volumes in the global airfreight market during the second quarter, resulting in a market growth of just about two per cent in the first half of 2011.


K+N


In airfreight, Kuehne + Nagel increased tonnage by 18 per cent, in spite of sharply declining volumes in the global airfreight market during the second quarter, resulting in a market growth of just about two per cent in the first half of 2011. Kuehne + Nagel’s expansion of activities in the field of perishable logistics following the acquisitions in South America as well as increased demand in the trade lanes from Europe to North America and Asia contributed to the strong performance. The global forwarder said volumes increased in trades from North America to Europe and to South America, whereas airfreight business from Asia to Europe did not reach expectations. EBITDA-to-gross profit margin improved from 29.2 per cent to 32.6 per cent. The operational result was 22.9 per cent higher than in the same period last year.

Looking forward Karl Gernandt, chairman of the Board of Directors of Kuehne + Nagel International AG said: “Market analysts anticipate slower growth in the logistics industry. Nevertheless, the Kuehne + Nagel Group is well positioned to tackle future challenges. While maintaining an effectivst management, the Group will continue to pursue its global strategy, focussing on investments in growth markets and -segments. In this context, the acquisition in Brazil announced today is a significant step.”