During the first six months of 2013, Kuehne + Nagel Group turnover increased by 3.3 per cent to CHF 10,394 million, and gross profit increased by 2.6 per cent to CHF 3,112 million, compared to the same period of the previous year. Net earnings amounted to CHF 289 million (2012: CHF 214 million).
Seafreight
After a strong increase of freight volumes in April 2013, growth slowed to a moderate level during the next two months. Overall, Kuehne + Nagel increased container volumes by 3 per cent in the first six months of 2013. In particular, the company performed well in the intra-Europe and intra-Asia trades. Volumes stagnated in the declining Asia-Europe traffic, while, contrary to the market trend, increases were achieved in the transpacific trade lanes. As a result of moving the focus from top-line growth to profitability, Kuehne + Nagel’s gross profit margin in seafreight remained stable despite continuously declining freight rates.
Airfreight
In a worldwide stagnating airfreight market, Kuehne + Nagel increased tonnage by 3.7 per cent in the first half of the year. Also in this business unit, record volume growth was recorded in April 2013. The concentration on specific airfreight solutions for the pharmaceutical, automotive and aviation industries as well as volume increases in the European, North American and Asian export business contributed to the favorable development.
Road & Rail Logistics
In the second quarter of 2013, volume increases were achieved in the full and less than full load segments. Compared to the previous year’s six months period, gross profit remained stable. Selective growth in specific industry segments such as pharmaceutical, high-tech, automotive and industrial goods as well as the improvement of margins should enable the further positive development in the second half of 2013.
Contract Logistics
The continuous implementation of the location master plan as well as the company-wide concentration on global customers resulted in a considerable increase in profitability in the second quarter of 2013. In the first six months net turnover, adjusted for fluctuations in currency, increased by 2.8 per cent.
Karl Gernandt, Chairman of the Board of Directors and acting CEO of Kuehne + Nagel International AG stated “In particular the results achieved in the second quarter 2013 underline the fact that the measurements introduced to improve efficiency on a Group-wide level are effective. Although we do not anticipate a significant stimulation of global trade in the second half of the year, we will continue to focus on profitable growth.”