SWISS logistics company Kuehne+Nagel reported its “best-ever nine-months results” yesterday.
The company said in the first nine months of 2022 its net turnover increased by 40% to CHF 30.6 billion ($48.04 billion). Over that period, its EBIT increased by 71% to CHF 3.1 billion ($4.87 billion) and its net earnings increased by 73% to CHF 2.3 billion ($3.61 billion).
Kuehne+Nagel CEO Stefan Paul said, “Kuehne+Nagel posted its best-ever nine-months results. However, higher energy prices, broad-based inflation as well as geopolitical tensions drive additional volatility in supply chains.
“At the same time, the easing in sea and air freight markets translates to some relief for our customers. Our asset-light business model is primarily focused upon responding to our customers’ worldwide needs in a flexible manner while ensuring a high quality of service,” Mr Paul said.
The company’s sea logistics unit’s net turnover for the nine months to September came to CHF 14.8 billion ($23.24 billion). The company’s total container volumes for the period were 3.3 million TEU.
The company said complexity in the global sea freight markets decreased over the first nine months of this year, while volatility increased steadily on major trade routes.
Net turnover for the air logistics unit was CHF 9.1 billion ($14.29 billion) for the period. And net turnover for road logistics and contract logistics were CHF 3 billion ($4.71 billion) and CHF 3.6 billion ($5.65 billion), respectively.
