Kuehne + Nagel’s start to the 2021 business year was marked by strong demand in transport services, especially for pharma and e-commerce fulfilment. Kuehne + Nagel reported a net turnover of over CHF*6.0bn, EBIT of CHF431m and earnings for the period of CH 318m were all higher year-on-year.
Sea Logistics
Container volumes in the first quarter of 2021 were up 2% year-on-year at 1.1m TEU, despite a decline in recyclables demand. The unit’s net turnover was CHF2,392m, up 38.8% year-on-year. Meanwhile, EBIT was CHF206m, up from CHF79m in Q2 2020.
Air Logistics
Air Logistics saw a return to trade volume growth in the first quarter of 2021. Air freight volumes developed positively, reaching 433,000 tons in the first quarter of 2021 (up 16% year-on-year). Combined with strong yields, net turnover improved 51.2% year-on-year to total CHF1,650m. EBIT was CHF163 million, up from CHF71m in 2020.
Road Logistics
In Road Logistics, the first quarter of 2021 was characterised by a significant increase in consignment numbers and a return of European national transport capacities to prior-year levels. After a weak start, UK transport demand recorded a noticeable recovery throughout the remainder of the quarter.
The unit’s net turnover of CHF 870mn in the first quarter of 2021 was at the previous year’s level; however, EBIT of CHF24m improved by 41.2% year-on-year.
Contract Logistics
In the first quarter of 2021, Contract Logistics returned to organic growth of 4%, in line with the market. As a result of the divestment of part of the UK business as of January 1, 2021, turnover declined in the first quarter of 2021.
The unit’s net turnover of over CHF1.1bn was 9.3% below the previous year; EBIT, however, increased by 123.5% to total CHF38m.
The pharma business and e-commerce fulfilment activities again had a positive impact. In March 2021, the business unit entered into a strategic partnership with Jointown, a non-state pharmaceutical distributor in China.
Source: Kuehne + Nagel
