Kuehne + Nagel International AG

Latest Results (17.12.2024):

Overall Financial Performance

In the third quarter of 2024, Kuehne + Nagel International AG reported a net turnover of CHF 6.487 billion, marking a 19% increase compared to the same period in 2023. The company's EBIT for Q3 2024 was CHF 455 million, reflecting a 2% increase year-on-year. Earnings for the quarter stood at CHF 339 million, a 6% rise from Q3 2023. The company also saw a significant improvement in free cash flow, which increased by 25% to CHF 292 million.

Sea Logistics Performance

For the period from January to September 2024, Kuehne + Nagel's Sea Logistics division achieved a net turnover of CHF 6.7 billion, with an EBIT of CHF 653 million. The division handled 3.2 million containers (TEU) by the end of September 2024. The conversion rate for Sea Logistics was notably high at 42%, and the division expanded its network by opening 37 new locations. The digital platform seaexplorer.com played a crucial role in providing real-time information during supply chain disruptions.

Air Logistics Growth

Kuehne + Nagel's Air Logistics division reported a net turnover of CHF 5.2 billion for the first nine months of 2024, with an EBIT of CHF 330 million. The division handled 1.5 million tonnes of air freight, marking a 6% increase year-on-year. Growth was particularly strong in the perishable goods segment. The company also advanced its sustainability efforts by partnering with Cathay Pacific in its Sustainable Aviation Fuel (SAF) programme and using SAF for air freight operations with Mercedes-Benz.

Road Logistics Developments

In the Road Logistics segment, Kuehne + Nagel recorded a net turnover of CHF 2.6 billion and an EBIT of CHF 88 million for the period from January to September 2024. The European transport network experienced lower utilisation due to macroeconomic factors. However, the acquisition of City Zone Express in August 2024 enabled the company to offer less-than-truckload (LTL) services from China to major Southeast Asian hubs, enhancing its service offerings in the region.

Contract Logistics Achievements

The Contract Logistics division of Kuehne + Nagel posted a net turnover of CHF 3.5 billion and an EBIT of CHF 162 million for the first nine months of 2024. A significant development was the opening of a highly automated and sustainable logistics hub for Adidas in Mantova, Northern Italy. This facility, covering over 130,000 sqm, is capable of processing up to half a million shipments per day, supporting various retail channels from e-commerce parcels to bulk orders for large retailers.