K+N sees strong profitability despite currency hit

Kuehne + Nagel reported “excellent performance” in the air freight sector for the first half of 2015, which helped the global logistics giant to post a 4.2 per cent rise in net earnings for the period to CHF 326 million (US$341.5 million), compared to the same period in 2014. This was despite a negative currency impact of 7.3 per cent, the group said, while noting that revenue fell 3.2 per cent compared with the first half of 2014, to CHF 8.23 billion.


Kuehne + Nagel reported “excellent performance” in the air freight sector for the first half of 2015, which helped the global logistics giant to post a 4.2 per cent rise in net earnings for the period to CHF 326 million (US$341.5 million), compared to the same period in 2014. This was despite a negative currency impact of 7.3 per cent, the group said, while noting that revenue fell 3.2 per cent compared with the first half of 2014, to CHF 8.23 billion.

Commenting on the results, Detlef Trefzger, CEO of the Kuehne + Nagel International AG said: “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 sea freight 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 global logistics firm grew faster than the market with a 5.2 per cent increase in airfreight tonnage, to 610,000 tonnes. Significant volume increases were realised in exports from Europe, North America and Asia, it said. In addition, the expansion of services for customers from the segments perishables, pharma and industrial goods contributed to the favourable development.