Kuehne + Nagel has announced its financial results for 2014. It reported that it had continuously improved its performance in all business areas. The company posted net turnover of CHF17.50bn, which represented a 1.9% increase over the 2013. Kuehne + Nagel also recorded EBITDA of CHF1.01bn, an increase of 4.5% year-on-year. Accordingly the company’s net turnover margin stood at 5.77%.
Detlef Trefzger, Kuehne + Nagel’s CEO said, “In a volatile economic environment with fluctuating currencies, we were able to simultanously expand our market share and increase results in 2014. The turnaround in the overland business unit made an essential contribution to the considerable improvement in profitability; for the first time profits were reported over four consecutive quarters. I would also like to emphasise the continuously excellent performance in air freight and the further improvement of results in contract logistics. In sea freight we grew volumes and held margins stable, despite the high volatility of rates and negative currency impacts. By combining our industrial competence, innovative power and effective cost management we are strengthening our market position while at the same time generating added value for our customers.”
More to follow.
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