The continued recovery of the global economy led to strong demand for logistics services in the first half of 2021.
In this environment, the Kuehne+Nagel Group delivered an outstanding financial performance; all business units were able to significantly exceed prior year earnings.
At CHF 13.3 billion (£10.62 billion) , the Group’s net turnover for the first six months of 2021 was 35% higher than in the same period of last year while EBIT more than doubled to CHF 1.0 billion (£0.8 billion).
Dr. Detlef Trefzger, CEO of Kuehne + Nagel International AG, says: “This year, we are experiencing uniquely high consumer demand combined with supply chain uncertainty. Thanks to the tireless efforts of our employees, a successfully implemented strategy and our agile logistics solutions, we have once again met the increased service requirements of our customers in a challenging market environment. We expect demand to remain strong and look forward with confidence to continuing the positive development.”
Air Logistics
CHF million |
H1 2021 |
H1 2020 |
Δ |
Q2 2021 |
Q2 2020 |
Δ |
Net turnover |
3,976 |
2,460 |
62% |
2,326 |
1,369 |
70% |
Gross profit |
959 |
642 |
49% |
557 |
335 |
66% |
EBIT |
406 |
181 |
124% |
243 |
110 |
121% |
Despite global capacity constraints, Air Logistics recorded significant volume growth in the first half of 2021 thanks to tailor-made customer solutions such as combined sea and air freight. The business unit again recorded strong market share gains. Transport solutions for pharma and essential goods as well as e-commerce were in particularly high demand.
From May onwards, the first-time consolidation of Apex also contributed to the overall result. The company is one of Asia’s leading freight forwarders, especially on the transpacific trade route. Together, Kuehne+Nagel and Apex offer their customers a compelling value proposition in the competitive Asian logistics industry, especially in e-commerce fulfilment, hi-tech and e-mobility.
Air freight volumes in the first half of 2021 were up 44% on the same period last year at 988,000 tonnes. Net turnover was CHF 4.0 billion (£3.19 billion) and EBIT CHF 406 million (£324.1 billion). The conversion rate was 42.3%.
The demand for ecologically-friendly solutions such as Sustainable Aviation Fuel (SAF) expanded sharply over the period. In response, Kuehne+Nagel entered into partnerships with American Airlines, IAG Cargo (British Airways) and Air France-KLM Martinair Cargo.