Tough market sees Kuehne + Nagel air volumes down, net earnings up | Air Cargo World
Air Cargo World
Subscribe
  • News
  • Data & Tools
  • Events
    • Cargo Airport Growth Summit
    • Cargo Facts Symposium
    • Cargo Facts EMEA
    • Cargo Facts Asia
  • Multimedia
  • Podcast
  • Magazine
  • Features
Monday, March 1, 2021
Log In
No Result
View All Result
  • Airports
  • Carriers
  • COVID-19 Vaccine Logistics
  • E-Commerce
  • Freight Forwarders
  • Technology
Air Cargo World
  • News
  • Data & Tools
  • Events
    • Cargo Airport Growth Summit
    • Cargo Facts Symposium
    • Cargo Facts EMEA
    • Cargo Facts Asia
  • Multimedia
  • Podcast
  • Magazine
  • Features
Log In
No Result
View All Result
Air Cargo World
No Result
View All Result

Tough market sees Kuehne + Nagel air volumes down, net earnings up 

Chelsea Toczauer by Chelsea Toczauer
July 23, 2019
in Freight Forwarders, News
Reading Time: 2min read
Share on FacebookShare on TwitterShare on Pinterest

Reflecting the continued weakness of the airfreight market, first-half results from Kuehne + Nagel showed a 5.8% drop in air cargo volume to 813,000 tonnes, despite a 5.5% rise in gross profit and a modest 2.0% increase in earnings before interest and taxes (EBIT). 

Describing the market as “tough,” Kuehne + Nagel said the air unit’s volume decreased “due to stagnating markets of some key industries.” Kuehne + Nagel noted, however, that it saw growth in its pharma, healthcare and perishables sectors. EBIT for the air unit was down by 4.4% compared to the same period last year, to US$174 million. 

According to Kuehne + Nagel, the market-related volume decline in airfreight was largely offset by continued volume growth its seafreight and overland segments saw in the first quarter of the year. 

The seafreight business saw a 4.5% growth in volume for the first half of 2019, reaching 2.39 million standard containers (TEU), or nearly 103,000 units more than in the same period in 2018. The increase produced an EBIT of $238.6 million. 

In terms of overland, Kuehne + Nagel saw a 3.3% net turnover increase and a 4% rise in gross profit, year-over-year, for the first six months of 2019. North America and Europe, and especially Germany and France, drove growth in the sector, while project business in the Middle East and Africa stagnated. During the period, the group also expanded its offering for overland in Asia with a digital booking platform, which will be gradually rolled out in Southeast Asia. 

Meanwhile, Contract Logistics saw gross profits increase by 2.7%, y-o-y, during the first half of the year, driven by new business in pharma and healthcare, as well as e-commerce fulfillment.  

Tags: Americasasia pacificEMEAKuehne + Nagel (K+N)
Previous Post

PayCargo files lawsuit against competitor CargoSprint 

Next Post

UPS to add Sunday pickup, delivery in 2020

Related Posts

LATAM growing 767 freighter fleet to meet Latin America cargo demand
Carriers

LATAM growing 767 freighter fleet to meet Latin America cargo demand

March 1, 2021
Forwarding helps Kerry Logistics lift revenue and core net profit in 2017
Freight Forwarders

PE firms are feasting on China’s $5.5 billion logistics M&A

March 1, 2021
Top 5 vaccine logistics stories of 2020
Cargo Traffic

Cargo Facts Consulting vaccine airfreight dashboard goes live on Air Cargo World

February 28, 2021
Next Post
UPS partners with blockchain company Inxception to launch B2B app

UPS to add Sunday pickup, delivery in 2020

By subscribing you agree to our Terms of Use and Privacy Policy

Current Issue Magazine Cover

FROM OUR CONTRIBUTORS

Automotive industry transformation and tariffs have long-term implications for airfreight

Consultant Insight: Brighter days may be ahead for automotive supply chain

February 26, 2021
UN recruits 40 airlines to deliver vaccine to poorest states

Air cargo expectations adjust to vaccine shipment requirements

February 23, 2021
Delta to launch BOM-JFK 777 service beginning Dec. 22

Consultant Insight: Post-pandemic airline survival depends on transformation

February 19, 2021

SPONSORED

Apex reduces retailer lead times and costs—increasing air charters by 225%

Apex reduces retailer lead times and costs, increasing air charters by 225%

January 29, 2021
Delta Cargo introduces priority COVID-19 vaccine handling

Delta Cargo introduces priority COVID-19 vaccine handling

December 31, 2020
Executive Q&A with Manu Jacobs, Director of Specialty Products, United Cargo

Executive Q&A with Manu Jacobs, Director of Specialty Products, United Cargo

December 17, 2020
  • About Us
  • Help Center
  • Privacy Terms
  • ADA Compliance
  • Advertise

Follow Us

twitter twitter linkedin podcast

© 2021 Royal Media & Air Cargo World

No Result
View All Result
  • News
    • All News
    • Airports
    • Carriers
    • COVID-19 Vaccine Logistics
    • E-Commerce
    • Freight Forwarders
    • Technology
  • Data & Tools
  • Events
    • Cargo Airport Growth Summit
    • Cargo Facts Symposium
    • Cargo Facts EMEA
    • Cargo Facts Asia
  • Multimedia
  • Podcast
  • Magazine
  • Features
  • Subscribe
  • Log In / Account

© 2021 Royal Media & Air Cargo World

Go to mobile version