Kuehne + Nagel remains on success course with double digit organic growth in all business units
Schindellegi / CH, April 23, 2007 – The globally operating Kuehne + Nagel Group delivered good results for the first quarter of 2007.
Turnover increased by 13.5 per cent to CHF 4,869.5 million and the
operational result (EBITDA) improved by 15.4 per cent to CHF 229.8
million. Net earnings rose by 28.2 per cent to CHF 130.3 million
compared with the previous year.
| Kuehne + Nagel Group |
1st Quarter
(CHF million) |
|---|
| | 2005 |
2006 |
2007 |
| Turnover |
3,027.3 |
4,290.7 |
4,869.5 |
| Gross profit |
626.6 |
1.231.4 |
1,421.7 |
| Operational result (EBITDA) |
118.0 |
199.1 |
229.8 |
| EBT |
97.9 |
141.9 |
175.1 |
| Net earnings |
69.5 |
101.6 |
130.3 |
Seafreight
Kuehne + Nagel’s seafreight business field maintained its momentum and
once again performed strongly. Compared with the previous year, turnover
for the first three months improved by 11.4 per cent to CHF 2,227.1 million,
and the last year’s high business volume grew a further 14 per cent.
Productivity improvements and efficient transport management contributed to
an operational result up 18.3 per cent. EBITDA margin increased from 3.8 to
4.1 per cent.
Airfreight
The company’s airfreight operations delivered excellent results for the first
quarter. Despite a lower than expected market growth of between 3 and 4
per cent, Kuehne + Nagel was able to increase the demand for its innovative
airfreight solutions and raised volumes by 13 per cent. Especially Europe
performed strongly, with the German organisation achieving record turnover,
tonnage and operational result. Stringent cost management and high
productivity led to a 27.7 per cent increase of the operational result and
considerably improved margins.
Overland
European overland operations made good progress. Successful cross selling
and the launch of the Kuehne + Nagel European hub system contributed to a
significant increase in volumes; turnover grew by 21.3 per cent. In line with
the strategy of offering customers single-source services from the first to the
last mile, investments will continue to be made in strengthening the
European network and standardising IT systems.
Contract Logistics
Contract logistics activities are becoming a growth driver for the Kuehne +
Nagel Group. In the first quarter, turnover grew organically by 19.9 per cent –
a strong confirmation of successful implementation of the strategy to deliver
integrated logistics solutions. The operational result improved by 14.5 per
cent. In this business unit, the focus will continue to be on leveraging cross
selling potentials, on expanding activities particularly in Asia, Latin America
and Eastern Europe, as well as on aggressive cost management.
“We are delighted about the good performance and sustained growth that
we achieved across all business units,” commented Klaus Herms, Chief
Executive Officer of Kuehne + Nagel International AG. “Kuehne + Nagel’s
business model is proving effective, and our comprehensive offering is
meeting the global requirements of our customers. We are confident to be
able to continue our dynamic performance.”
Link: Datasheets 1. Quarter 2007
