02
May
2006
|
05:55
Europe/Berlin

Kuehne + Nagel International AG - 1st Quarter Results 2005

With a 17 per cent increase in turnover to CHF 3,027.3 million and the operational result (EBITA) up 18.4 per cent to CHF 97.9 million, Kuehne +
Nagel, the globally operating logistics group, has made a successful start to the business year 2005. Net earnings rose 45.7 per cent versus last year to CHF 69.5 million. Due to the adoption of the accounting principles IFRS 3, CHF 12.8 million higher net earnings were reported.

The business unit Sea & Air Logistics continued its dynamic growth in the first three months of the year. Turnover increased by 19.9 per cent and the operational result grew by 32.1 per cent compared with the first quarter 2004.

A 22 per cent rise in transport volumes saw Kuehne + Nagel’s seafreight operations grow more than double the market average. Strong growth in container traffic was not only generated from Asia to Europe (28 per cent), but also on trade lanes from Europe to North America (21 per cent) and Asia / Europe to South America (45 per cent). The operational result in this business field improved by 47.6 per cent versus last year.

In airfreight, too, Kuehne + Nagel increased its market shares worldwide and raised tonnage by 19 per cent, thereby growing twice as fast as the market. Significant increases in cargo and results were achieved by the national companies in South America. In an environment of growing pressure on
margins Kuehne + Nagel improved its operational result by 13.6 per cent.

Good utilisation of capacities in rail and road transportation resulted in an improvement in gross profit by 29 per cent. Restructuring measures in connection with the integration of Häring Service Company, acquired as of January 1, 2005, led to a temporary reduction in the operational result of this business unit to CHF 3.9 million.

In Contract Logistics, increases in added value contributed to a 6.1 per cent higher gross profit. Margins in this business unit remained at last year’s level, mainly due to investments in standardisation and the centralisation of IT systems.

“The results for the first three months meet our expectations. We are therefore very confident regarding the future performance of our business,“ commented Klaus Herms, CEO of Kuehne + Nagel International AG.