Kuehne + Nagel airfreight grows on Europe-Middle-East route
The Kuehne + Nagel Group grew airfreight tonnage by 3.3 percent in the first nine months of 2013 year over year.
In airfreight, the positive business continued in the third quarter.
The European airfreight business had a good performance, and transports to the Middle East in particular grew significantly. In North America, higher volumes mainly on the South American routes resulted from new business opportunities.
There was a special focus on services for certain industries such as pharmaceutical and health care, automotive and aviation. Gross profit margin improved from 20.8 percent in the first nine months of 2012 to 21.5 percent in the same period of 2013.
The Kuehne + Nagel Group improved overall results in the first nine months of 2013 by 6 percent compared to the same period in 2012, adjusted for an antitrust fine.
While the overall turnover increased by 1.5 percent in the first nine months, gross profit improved by 2.8 percent. Net earnings amounted to CHF 442 million (US$482.3 million).