Airfreight boosts Kuehne + Nagel to a prosperous 2014

Forwarding giant Kuehne + Nagel reported a robust 2014, with improvement in all areas of its business.  Profits were reported in each quarter with excellent performance in the company’s airfreight sector.

The Switzerland- based logistics provider increased air cargo tonnage by 5.3 percent in a market that grew by 3 to 4 percent. As a result, K+N reported that the company is now the second- largest global airfreight forwarder. Pharmaceutical, automotive and industrial goods were the big business wins for K+N.  “KN EngineChain,” a new service for the transport and handling of aircraft engines, saw an increased demand as well.

KN FreightNet, an online application introduced last year, has also streamlined its operation. All of this has led to an improved earnings before interest and tax (EBIT) of 7.2 percent over 2013.

“In a volatile economic environment with fluctuating currencies, we were able to simultaneously expand our market share and increase results in 2014,” said CEO Detlef Trefzger. “I would also like to emphasize the continuously excellent performance in airfreight and the further improvement of results in contract logistics.”

EBIT increased 7.7 percent over 2013 in K+N’s contract logistics division. New global pharmaceutical, automotive and e-commerce customers added to KN’s bottom line in the airfreight sector. The company’s gross profit overall rose by 0.5 percent.

K+N has more thanover 63,000 employees in 1,000 locations in over 100 countries worldwide.

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