2021-08-03 09:00

Kuehne+Nagel more than Doubles Earnings in the First Half of 2021



The continued recovery of the global economy led to strong demand for logistics services in the first half of 2021. In this environment, the Kuehne+Nagel Group delivered an outstanding financial performance; all business units were able to significantly exceed prior year earnings. At CHF 13.3 billion, the Group's net turnover for the first six months of 2021 was 35% higher than in the same period of last year while EBIT more than doubled to CHF 1.0 billion.
 
Dr. Detlef Trefzger, CEO of Kuehne + Nagel International AG, says: "This year, we are experiencing uniquely high consumer demand combined with supply chain uncertainty. Thanks to the tireless efforts of our employees, a successfully implemented strategy and our agile logistics solutions, we have once again met the increased service requirements of our customers in a challenging market environment. We expect demand to remain strong and look forward with confidence to continuing the positive development.“
 
In the second quarter of 2021, the trend towards transporting higher value products in Sea Logistics continued. This, coupled with limited container capacity and reduced productivity across the supply chain, required a very high and sustained level of service intensity. At 2.2 million TEU, container volumes in the first half of 2021 were up 3% on the same period last year. The unit's net turnover was CHF 5.2 billion and EBIT CHF 504 million. The conversion rate again reached a new record level of 46.7%.
 
The online platform Seaexplorer with actual information on the transport situation proved to be particularly valuable for Kuehne+Nagel's customers. 

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