Kuehne+Nagel sea logistics net turnover up 8%

Kuehne+Nagel sea logistics net turnover increased eight percent to CHF 9.3 billion with EBIT of CHF 851 million, down 16 percent.

"The container volume through December 2024 was 4.3 million TEU," says an official release. "Kuehne+Nagel strengthened its presence in the United States with the acquisition of 51 percent of IMC Logistics from Collierville, Tennessee. IMC, which handles about 2.2 million TEU annually, specialises in comprehensive end-to-end transportation solutions between seaports, rail hubs, and customer facilities within the United States. The transaction was announced in November 2024."

 Air logistics revenue up 5%
Kuehne+Nagel reported a five percent increase in air logistics turnover at CHF 7.3 billion in 2024 compared to CHF 6.9 billion in 2023.

"The unit handled 2.1 million tonnes of freight in 2024, six percent more than in the previous year," says an official release. "Freight rates declined by 1.1 percent to CHF 372 per 100 kg (2023: 376)."

EBIT declined 14 percent to CHF 478 million. "Kuehne+Nagel air logistics once again proved its resilience in challenging markets, thanks to its broad positioning, especially in the perishables, pharma, semiconductors and aerospace sectors."

Group net turnover up 4%
The Kuehne+Nagel Group reported a four percent increase in net turnover at CHF 24.8 billion in 2024 on improved performance in sea and air logistics. Earnings declined 16 percent to CHF 1.2 billion from CHF 1.5 billion in 2023, says an official release.

"The streamlining of Kuehne+Nagel's organisational and sales structure in April 2024 already yielded visible successes in the second half of the year," says Stefan Paul, CEO, Kuehne+Nagel. "In addition, we enabled new growth opportunities through acquisitions in North America and Asia. In short, we have created a more efficient organisation with a broader offering to achieve our future ambitions. Kuehne+Nagel will report on strategic progress and provide a financial outlook at the upcoming Capital Markets Day on March 25, 2025."

Joerg Wolle, Chairman, Board of Directors, Kuehne+Nagel says: "We would like our shareholders to participate in the company's success by proposing an ordinary dividend of CHF 8.25 per share for the 2024 financial year, corresponding to a dividend yield of four percent.

"Kuehne+Nagel has started well into the new financial year. We are confident that the positive development will continue in 2025."