Swiss logistics firm Kuehne + Nagel tells My Logistics Magazine that its first-quarter profit attributable to equity holders of the parent company rose 11.4% to 147 million Swiss francs. In real terms the rise is from the prior year’s 132 million francs, with earnings per share improving 9.9% to 1.22 francs from 1.11 francs in the same quarter last year.
Quarterly earnings for the period increased by 11.9 per cent year-over-year to 150 million francs as a result of its concentration on profitable growth. The overland business unit ended the first quarter clearly positive; airfreight and contract logistics also recorded increased results. In seafreight, volume growth has to be highlighted.
The Group’s operational result or EBITDA increased by 7.3 per cent year-over-year to 235 million francs. EBIT was at 190 million francs, thus 12.4 per cent higher than in the previous year.
But, net turnover for the quarter declined 1.3% to 4.127 billion francs from 4.182 billion francs last year. The slight decrease in net turnover resulted from the planned adjustments in warehousing capacities, rate deterioration and margin pressure in sea and airfreight, as well as the negative currency impact, in particular.
Kuehne + Nagel increased its container volume by 6.9 per cent and handled 58,000 TEU more than in the previous year’s first quarter.
In airfreight, Kuehne + Nagel increased volumes by 1.4 per cent, handling 4,000 tons more than in the previous year’s period. Volume increases were mainly realised in Europe and North America, while in Asia, Middle East and Africa tonnage declined in comparison with the first quarter 2013.
Detlef Trefzger, CEO of Kuehne + Nagel International AG said, “In a slightly recovered market environment all our business units performed well and strengthened our market position at the same time. In view of this, we are satisfied with the results in the first quarter 2014. The cost measures introduced one year ago and active margin management have been effective. Our strategy remains unchanged: we will continue to focus on profitable growth.”
