It was all-good for Kuehne + Nagel (K+N) in 2014 as the logistics giant posted a 6.1 per cent rise in earnings for the year on the back of improved business across its sectors – seafreight, airfreight, land and contract logistics.
In 2014 K+N recorded a net turnover of CHF 17,501 million, up 1.9 per cent (in constant currencies 5.1 per cent) higher than in the previous year. Gross profit rose by 0.5 per cent (in constant currencies 2.9 per cent) to CHF 6.288 million and the operational result (EBITDA) increased by 4.5 per cent (in constant currencies 7.8 per cent) to CHF 1,005 million. Earnings for the year improved by 6.1 per cent (in constant currencies 9.7 per cent) to CHF 644 million.
K+N CEO, Detlef Trefzger commented: “In a volatile economic environment with fluctuating currencies, we were able to simultanously expand our market share and increase results in 2014. The turnaround in the overland business unit made an essential contribution to the considerable improvement in profitability; for the first time profits were reported over four consecutive quarters.
“I would also like to emphasise the continuously excellent performance in airfreight and the further improvement of results in contract logistics. In seafreight we grew volumes and held margins stable, despite the high volatility of rates and negative currency impacts. By combining our industrial competence, innovative power and effective cost management we are strengthening our market position while at the same time generating added value for our customers.”
In airfreight Kuehne + Nagel continued the successful ascent in 2014 with improved profitability on the back of a 5.3 per cent growth in volumes against market growth of only 3-4 per cent, continuing its position as the second largest global airfreight forwarder after Panalpina. K+N said the success factors in this business unit were “industry-specific airfreight products, which led to significant business wins in the pharmaceutical, automotive and industrial goods sectors.”
There was also increased demand for the 2013-launched product KN EngineChain, a special service for the transport and handling of aircraft engines. “The new online portal KN FreightNet, which was brought to market in 2014, underlines Kuehne + Nagel’s innovative power while setting a new standard in the airfreight industry,” the group said. In comparison to the previous year, EBIT improved by 7.2 per cent. The conversion rate developed positively from 25.3 per cent in the previous year to 27 per cent.
