KUEHNE + Nagel’s results for the fist quarter of 2022 was marked by big increases in turnover, earnings and profit.
The company’s net turnover increased by 68% to CHF 10.2 billion ($14.81 billion), compared with the same period last year. Its EBIT increased by 160% to CHF 1.1 billion ($1.6 billion) and its earnings by 162% to CHF 832 million ($1.2 billion).
K+N CEO Dr Detlef Trefzger said: “Strong demand for capital and consumer goods continued in the first quarter of 2022. In parallel, the already strained supply chain situation deteriorated further.
“Kuehne + Nagel was well prepared for this scenario and we were able to reliably meet customer demands for high-quality logistics services.”
In sea logistics, the company said the ongoing congestion at many international seaports continued throughout the first quarter of 2022.
“The tense market environment once again led to an exceptionally high operational workload in sea logistics,” the company said.
“Container volumes in the first quarter of 2022 were 1.0 million TEU, the business unit’s net turnover reached CHF 4.9 billion [$7.1 billion] and EBIT was CHF 621 million [$902 million]. The conversion rate reached 63.8%.”
Turning to airfreight, the company said the sudden closure of Russian airspace led to multiple changes in airfreight routes between Asia and Europe.
“Together with the overall limited capacities, this led to a significantly higher operational workload in the first quarter of 2022,” it said.
“Airfreight volumes in the first quarter of 2022 were 574 million tonnes, net turnover CHF 3.1 billion [$4.5 billion] and EBIT CHF 425 million [$617 million]. The conversion rate reached 52.0%.”
