The Kuehne + Nagel Group returned to growth during the first quarter of 2010 with sales up 7.3 per cent compared to the same period the previous year, but margins slipped and EBITDA decreased by 0.87 per cent.
Within K+N’s contract logistics division the movement of goods grew compared to the first quarter of 2009, and overall turnover and results were stable, with EBITDA margin at 4.2 per cent, compared to 4.5 per cent the previous year.
K+N made investment in sales, product development and the European overland network within its road and rail logistics division, which led to an increase of 3.7 per cent in net invoiced turnover. The operational result more than doubled thanks to productivity improvements and EBITDA margin reached 2.2 per cent, up from one per cent in 2009.
Reinhard Lange, chief executive of Kuehne + Nagel International, said: “Our group is back on course for growth thanks to the economic recovery and measures we introduced in 2009. Indications are getting stronger that the global economy and logistics-related parameters are stabilising. We are, therefore, confident of our ability of reaching our goal of above-market average profitable growth in all business units.”
