Transportation Kuehne+Nagel grows and gets off to a good start in 2025
Kuehne + Nagel has stabilized in 2024 after a marked downturn in the previous year. According to the logistics group, the new year got off to a very good start.
04.03.2025, 07:12
04.03.2025, 08:20
SDA
Net turnover for the year as a whole increased by 4 percent to 24.80 billion Swiss francs, as the company announced on Tuesday. However, gross profit adjusted for volatile freight rates fell by 1 percent to 8.67 billion.
As a result, the key earnings figures developed slightly worse. The operating result (EBIT) fell by 13% to CHF 1.65 billion, while net profit fell by 16% to CHF 1.23 billion. In addition to the low gross profit, currency effects also had a negative impact, according to the company. There were also restructuring costs.
The so-called conversion margin, which indicates the ratio of EBIT to gross profit, reached 19.1 percent after 21.7 percent in the previous year. It is considered an important key figure in the industry. In the medium term, the company is aiming for a figure of 25% to 30% as part of its "Roadmap 2026" strategy.
Market share defended
Shareholders will now receive a dividend of CHF 8.25 per share, compared to CHF 10.00 in the previous year. The key figures were in line with analysts' expectations.
In the individual divisions, Ocean Freight achieved an 11 percent lower gross profit and a 16 percent lower EBIT. However, the company was able to defend its market share, according to the documents. The operational development in air freight was similar (gross profit -1%, EBIT -14%).
Meanwhile, overland transportation suffered from the weak economic development, which weakened margins. As a result, EBIT fell by 26%. In the fourth segment, Contract Logistics, on the other hand, margins and market share increased according to the information provided.
Above pre-boom level
All in all, business has stabilized. In the previous year, there was a significant double-digit slump in all key figures. The post-corona boom, which had brought the logistics group a lot of work and dream returns due to delivery bottlenecks, had come to an end at that time. The current results are once again well above the comparable figures from before the pandemic, the company emphasized in the press release.
The company will not provide an outlook until the Investor Day on March 25. "Overall, we have created a more efficient and broader basis for realizing our future ambitions in the 2024 financial year," CEO Stefan Paul was quoted as saying in the press release. The streamlined organizational and sales structure showed initial success in the second half of 2024. In fact, all key figures in the final quarter were up on the previous year.
The Group has also made a "very good" start to the new financial year, the statement added. "We are confident that we will be able to continue our positive development in 2025," said Chairman of the Board of Directors Jörg Wolle.
