Sales boost Kuehne + Nagel

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Sales at Kuehne + Nagel grew 15.7 per cent to £6.5bn (CHF 15.4bn) for the first nine months of the year while operating profit (EBITDA) rose 16 per cent to £297m (CHF 709m).
The group said its contract logistics business maintained growth and margins were at high levels despite the traditionally weaker summer period
“At 20.4 per cent, Kuehne + Nagel’s turnover growth outperformed the market three-fold. Margins were improved to 5.0 per cent thanks to productivity increases and enhanced production flexibility,” the group said.
Chief executive Klaus Herms said: “Our dynamic growth is a result of strong global trade and our ability to offer customers value-adding, integrated services worldwide. The effective implementation of our strategy is reflected in the constant growth rates recorded across our business units and regions. We are confident that this trend will continue and we will exceed last year’s good results.”
The seafreight division produced a 16 per cent rise in volumes, despite growth in the global seafreight market slowing to seven or eight per cent while, in airfreight, business wins and contract extensions meant that tonnage increased 15 per cent, despite underlying market growth of only around four per cent in the first nine months of the year.
Sales in K+N’s overland network were up 16.9 per cent but operating profit was down 18.1 per cent.

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