Kuehne+Nagel’s earnings double in H1 2021
In the first half of 2021, the Kuehne+Nagel Group delivered an outstanding financial performance; all business units were able to significantly exceed prior year earnings.
July 20, 2021: In the first half of 2021, 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 percent higher than in the same period of last year while EBIT more than doubled to CHF 1.0 billion.
Detlef Trefzger, CEO of Kuehne + Nagel International AG, said, "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 percent on the same period last year.
From May onwards, the first-time consolidation of Apex also contributed to the overall result. The company is one of Asia's leading freight forwarders, especially on the transpacific trade route.
Air freight volumes in the first half of 2021 were up 44 percent on the same period last year at 988,000 tonnes. Net turnover was CHF 4.0 billion and EBIT CHF 406 million. The conversion rate was 42.3 percent.
The demand for ecologically-friendly solutions such as sustainable aviation fuel (SAF) expanded sharply over the period. In response, Kuehne+Nagel entered into partnerships with American Airlines, IAG Cargo (British Airways) and Air France-KLM Martinair Cargo.
In road logistics, the first half of 2021 was characterised by a significant increase in the number of shipments, maximising network utilisation.
The digital customs clearance platform "Your Easy Brexit Solution," originally designed for Brexit, was rolled out further in Q2 2021 due to its great success and is now available to manage customs clearance globally. In Asia-Pacific, digital bookings via eTrucknow experienced strong growth. This platform is now available in 18 countries worldwide.
In the first half of 2021, Contract Logistics managed to expand its business with strong growth of pharma and e-commerce fulfilment solutions.
