23
April
2007
|
07:05
Europe/Amsterdam

1st Quarter Results 2007 - Kuehne + Nagel remains on success course with double digit organic growth in all business units

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

1. Quarter

 

 

 

in 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.”