Wednesday, June 19, 2024
Successful first half of 2018 for Kuehne + Nagel’s airfreight division

Successful first half of 2018 for Kuehne + Nagel’s airfreight division

First half profits for Kuehne + Nagel have grown by 9.6 per cent with the airfreight division posting “successful” results.

Net turnover for the group was up 14.2 per cent to 10 billion Swiss francs (CHF), with earnings for the period increasing 9.6 per cent to CHF390 million.

The airfreight division has been performing well, continuing its strong performance from the previous quarters.

Tonnage increased by 18.1 per cent to 863,000 tonnes, and earnings before interest and tax rising by 20.5 per cent to CHF182 million, with industry specific solutions making important contributions.

Kuehne + Nagel International chief executive officer, Dr Detlef Trefzger says: “We achieved strong volume growth across all business units. This growth combined with active cost management delivered a significant improvement in results confirming the consistency of the implementation of our business strategy. Our high level of industry-specific competence and our digital solutions are key factors here.”

He says Kuehne + Nagel is monitoring volatile markets and geopolitical developments “very closely”, but despite the environment, the company is ambitious as it enters the second half of the year.

Chairman of the board of directors, Dr Jorg Wolle adds: “We demonstrated our performance strength yet again in the first half of 2018 and have established a solid basis for the second half of the year. Kuehne + Nagel’s agility and efficiency make us confident that the positive development of the company will continue.”


Stay informed. Stay ahead. To get the latest air cargo news and industry trends delivered directly to your inbox, sign up now!

related articles

Swedavia strengthens its collaboration with Médecins Sans Frontières

DHL Express leads the way in electrification of ground fleet at Brussels Airport

GEODIS Denmark is migrating to 100% renewable energy on the electricity consumption