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Kuehne + Nagel profit up 5.4pc to US$679.6 million, sales slip 4.7pc
SWISS forwarding giant, Kuehne + Nagel, reckoned to be the world's biggest, increased its net profit 5.4 per cent to CHF679 million (US$679.6 million) in 2015, drawn on revenues of CHF20.8 billion, which fell 4.7 per cent.
The board will propose a dividend of CHF5 per share, recalling the awarding of CHF4 per share in the previous year and CHF3 the year before that.
"We are proud that in a challenging environment we were able to increase profitability and again achieve a record result," said Kuehne + Nagel CEO Detlef Trefzger.
Seafreight market was marked by volatile rates and weak growth as well as a volume decline in the first half before focussing on the more profitable North American and intra-Asian trade lanes.
The company handled 3.8 million TEU, the same quantity as the previous year but with improved profitability, said the Kuehne + Nagel statement.
European exports stagnated due to regional differences in demand. With regard to specialised solutions such as reefer container and LCL (less-than-container-load), Kuehne + Nagel gained further market share and "strengthened its leading position".
In air freight, the company stayed on course in a stagnant to slightly declining market, increasing tonnage by 4.7 per cent to 1,250,000 tonnes.
A key factor in the good performance was the focus on industry-specific air freight solutions, which led to significant business wins in the pharmaceutical, aerospace and perishables sectors.
KN FreightNet, the innovative online portal, proved to be an effective new sales channel. Customers worldwide can receive instant quotes for air freight services, place bookings and track shipments.
Overland performance remained stable despite the challenging market situation in Europe. The groupage activities in Germany, France and the UK were successfully expanded.
Kuehne + Nagel's acquisition of ReTrans, a US provider of multimodal transport management solutions, in August 2015 marked an important step in the expansion of activities outside Europe.
Contract Logistics Kuehne + Nagel's industry-specific end-to-end solutions met with high demand in the market, as confirmed by the new business wins in 2015 with an additional warehousing space of some 860,000 square metres.
The board will propose a dividend of CHF5 per share, recalling the awarding of CHF4 per share in the previous year and CHF3 the year before that.
"We are proud that in a challenging environment we were able to increase profitability and again achieve a record result," said Kuehne + Nagel CEO Detlef Trefzger.
Seafreight market was marked by volatile rates and weak growth as well as a volume decline in the first half before focussing on the more profitable North American and intra-Asian trade lanes.
The company handled 3.8 million TEU, the same quantity as the previous year but with improved profitability, said the Kuehne + Nagel statement.
European exports stagnated due to regional differences in demand. With regard to specialised solutions such as reefer container and LCL (less-than-container-load), Kuehne + Nagel gained further market share and "strengthened its leading position".
In air freight, the company stayed on course in a stagnant to slightly declining market, increasing tonnage by 4.7 per cent to 1,250,000 tonnes.
A key factor in the good performance was the focus on industry-specific air freight solutions, which led to significant business wins in the pharmaceutical, aerospace and perishables sectors.
KN FreightNet, the innovative online portal, proved to be an effective new sales channel. Customers worldwide can receive instant quotes for air freight services, place bookings and track shipments.
Overland performance remained stable despite the challenging market situation in Europe. The groupage activities in Germany, France and the UK were successfully expanded.
Kuehne + Nagel's acquisition of ReTrans, a US provider of multimodal transport management solutions, in August 2015 marked an important step in the expansion of activities outside Europe.
Contract Logistics Kuehne + Nagel's industry-specific end-to-end solutions met with high demand in the market, as confirmed by the new business wins in 2015 with an additional warehousing space of some 860,000 square metres.
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