Kuehne+Nagel Q2 profits rise 78% in earnings
Publish Time: 2022-07-27 Origin: Site
On July 25, Kuehne+Nagel announced its second quarter and first half of 2022 results, achieving three consecutive quarters of profit in excess of $1 billion.
Kuehne+Nagel Announces Second Quarter and First Half Results：
Specifically, in the first half of the year, Kuehne+Nagel reported net revenues of CHF 20,631 million ($21,388 million), up 55% year-over-year; EBITDA of CHF 2,580 million ($2,674 million), up 85% year-over-year; and EBIT of CHF 2,195 million ( EBIT was CHF 2,195 million (US$ 2,276 million), an increase of 112% year-over-year.
In the second quarter, net income was CHF 10,473 million (US$ 10,857 million), up 45%, EBITDA was CHF 1,274 million (US$ 1,321 million), up 62%, and EBIT was CHF 1,075 million (US$ 1,114 million), up 78%. This represents an increase of 78% year-over-year.
Kuehne+Nagel's key performance figures for the second quarter and first half：
Detlef Trefzger, CEO of Kuehne+Nagel, said the global supply chain remains in a state of uncertainty in 2022, with continuing epidemics, escalating geopolitical conflicts, rising energy prices and high inflation all making the outlook for global trade more challenging.
"In response, Kuehne+Nagel is providing customers with more efficient and diverse logistics service options through digital platforms, industry solutions and the tireless efforts of our employees." Detlef Trefzger said.
Kuehne+Nagel Sea Logistics Division key results for the second quarter and first half：
In the marine logistics business, Kuehne+Nagel carried 2.2 million TEUs of containers in the first half of the year; net revenue was CHF 9,869 million (US$ 10,231 million), up 88% year-on-year; and EBIT was CHF 1,208 million (US$ 1,252 million), up 140% year-on-year.
In the second quarter, container volume was 1.1 million TEUs; net revenue was CHF 5.012 billion ($5.196 billion), up 76%; and EBIT was CHF 587 million ($609 million), up 97%.
Kuehne+Nagel Air Logistics Division key results for the second quarter and first half：
In air logistics, Kuehne+Nagel achieved 1.1 million tons of air cargo in the first half of the year; net revenues were CHF 6,324 million ($6.556 billion), up 59% year-over-year; and EBIT was CHF 826 million ($856 million), up 103% year-over-year.
In the second quarter, net revenues were CHF 3,178 million (USD 3,295 million), up 37% year-on-year, and EBIT was CHF 401 million (USD 416 million), up 65% year-on-year.
Commenting on the first-half results, Joerg Wolle, Chairman of the Board of Directors of Kuehne+Nagel Group, said: "Geopolitical and macroeconomic turmoil is challenging the global economy, especially in the logistics industry. In this challenging environment, Kuehne+Nagel is still delivering on the Group's strategic positioning and providing customers with innovative supply chain solutions based on globalization. We expect the demand for high-quality services in the global market to continue to remain stable in the second half of 2022."