Kuehne + Nagel has announced its financial results for the first nine months of 2014. It reported turnover of CHF13.00bn, an increase of 1.02% over the prior comparable period. The company also recorded EBITDA of CHF743m, a rise of 4.65% over the first 9 months of 2013. Accordingly Kuehne + Nagel’s margin stood at 5.71%.
The overall increase in revenue was attributed to an increase in volumes which led to a higher market share, in fact when adjusted for currency fluctuations the increase in turnover was 4.7%. Some of the most significant growth came from sea freight which increased volumes by 8%. Air freight operations brought in more modest volume growth of 5%. Currency adjusted turnover also increased in the Overland and Contract Logistics divisions.
The increase in EBITDA was primarily the result of growth in profits at the Overland and Contract Logistics divisions, although the result form freight forwarding operations was also strong.
Detlef Trefzger, Chief Executive Officer of Kuehne + Nagel said, “Part of our organic growth strategy is to concentrate on internationally operating customer groups, profitable growth and selective market share expansion. Additional key success factors include our strict cost control and the continuous enhancement of innovative solutions. This is clearly demonstrated by the positive development of our overland operations. The consistent implementation of our market strategies is leading to sustainable success.”
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