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Kuehne+Nagel Q1 2022 EBIT up 160% at $1.16 Billion

Views: 6     Author: Site Editor     Publish Time: 2022-04-29      Origin: Site

Kuehne+Nagel's ocean logistics business generated net revenue of approximately $4.764 billion.


On April 26, ocean freight forwarder Kuehne+Nagel announced its results for the first quarter of 2022.


During the reporting period, Kuehne+Nagel achieved a net revenue of 10.16 billion Swiss francs (about 10.55 billion US dollars), a year-on-year increase of 68%; earnings before interest and taxes (EBIT) 1.12 billion Swiss francs (about 1.16 billion US dollars), a year-on-year increase of 160% %.


Kuehne & Nagel Q1 2022 EBIT up 160% at 1.16 Billion

Kuehne+Nagel Group's first quarter results


Regarding the growth in the first quarter, Detlef Trefzger, CEO of Dexun Group, said: "This is due to the continued strong market demand for capital and consumer goods in the first quarter. At the same time, the tension in the supply chain has further intensified. However, Dexun It is well prepared for this situation and is able to provide reliable services to meet customers' needs for quality logistics services."

Kuehne & Nagel Q1 2022 EBIT up 160% at 1.16 Billion_2

Kuehne+Nagel's first quarter performance data for the maritime logistics business


Specifically for the shipping logistics business, in the first quarter, Kuehne+Nagel achieved a net revenue of CHF 4.59 billion (about $4.76 billion), a year-on-year increase of 103%; EBIT was CHF 620 million (about $640 million), a year-on-year increase 202%. In addition, the container operation volume is 1 million TEUs.


Kuehne+Nagel said that in the first quarter, the continuous congestion of many ports around the world was still a pain point for the industry. At the same time, the maritime logistics business was also greatly impacted by the tense market environment.


Kuehne & Nagel Q1 2022 EBIT up 160% at 1.16 Billion_3

Performance data of Kuehne+Nagel's air logistics business in the first quarter


In the air logistics business, Kuehne+Nagel achieved a net revenue of 3.146 billion Swiss francs (about 3.261 billion US dollars), a year-on-year increase of 91%, and an EBIT of 42.5 million Swiss francs (about 44.05 million US dollars), a year-on-year increase of 161%. The air freight logistics business handled a total of 574,000 tons.


In addition, Kuehne+Nagel and Atlas Air have reached a long-term charter agreement for two Boeing 747-8 all-cargo aircraft in order to ensure the capacity demand of strategic partner customers. This will give Dexon the full capacity of the two freighters and will deploy charter flights on international routes starting in the third quarter of 2022.

Kuehne & Nagel Q1 2022 EBIT up 160% at 1.16 Billion_4

Kuehne+Nagel's first quarter performance data for the contract logistics business segment


In addition, in the contract logistics business, Kuehne+Nagel achieved a net revenue of 1.17 billion Swiss francs (about 1.22 billion US dollars), a year-on-year increase of 5%; EBIT was 44 million Swiss francs (about 45.69 million US dollars), a year-on-year increase of 16%.


According to Kuehne+Nagel, the contract logistics business again achieved strong volume growth in the first quarter and further expanded the scope of services for pharmaceutical and e-commerce orders.







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