Schindellegi (Switzerland) - Swiss global transport and logistics company Kuehne + Nagel has posted increased net turnover, gross profit and EBIT in the first quarter of 2019.
In seafreight, writes a company’s press release, “EBIT expanded significantly and in overland operating results increased substantially. The market-related volume decline in airfreight was largely offset by active cost management. The result of contract logistics decreased due to ongoing restructuring and review of the project portfolio. Overall, the group achieved a good result.”
The Group managed the transport of 1.146 million standard containers (TEU) in its networks – thus almost 70,000 units more than in the previous year’s period. Imports from North American and European markets to Asia fell slightly in the first quarter (- 2 to 3 percent) reflecting the import restrictions on recycled materials and agricultural products. Kuehne + Nagel, however, was able to achieve a double-digit volume increase of Asian exports to North America and Europe. EBIT reached CHF 112 million. The EBIT-to-gross-profit ratio (conversion rate) grew to 29.3 percent (previous year: 27.2 percent).