Global logistics firm Keuhne + Nagel enjoyed a successful beginning to 2015, thanks to a tonnage increase of 7 percent in airfreight compared to Q1 2014. In contrast to current market trends, the company’s large share of European export business, mostly to North America and Asia, was strong, and airfreight business from South America, the Middle East and Africa remained at the same volume as last year in the same period. Overall earnings for the group improved by 2 percent to US$157 million, up from $154 million, year-over-year. EBIT (earnings before interest and taxes) increased by 9 .7 percent over 2014.
In seafreight, container volumes decreased by -0.7 percent compared to Q1 2014, however Kuehne + Nagel did improve gross profit per 20-foot equivalent unit (TEU) by 2.2 percent, and EBIT grew by 2.2 percent. Trucking improved as well, from $3 million to $4 million EBIT.
In contract logistics, new business wins extended into the first quarter of the year, but then slowed down due to volume reductions in existing business with Western European companies. EBIT decreased by $9 million, compared to Q1 2014.
“The development of our results is remarkably positive, considering the decreasing import flows of goods to Europe due to the weakness of the Euro,” said Detlef Trefzder, CEO. “In addition, the strong Swiss Franc negatively affected the result.”
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