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Kuehne & Nagel sales up in Q1

Zurich, Switzerland: Kuehne & Nagel International AG reported a 5% increase in first-quarter sales despite difficult market conditions, and said it expects growth this year to come outside of western Europe.

Turnover in the three months through March increased 5.4% cent to CHF5.094bn compared to CHF4.83bn in the previous year. Gross profit improved 2.3% to CHF1.537bn and at CHF219m, the operational result (EBITDA) was above the previous year’s level.

Kuehne & Nagel¬† concentrated on the improvement of internal efficiency and profitability, resulting in “positive achievements in the business units airfreight and contract logistics”. Karl Gernandt, chairman of Kuehne & Nagel International AG said: “Particularly in view of the recessive economic situation in the euro zone, which also poses challenges for our company, we can be quite satisfied with the results of the first quarter 2013.

“We will continue to focus on margin and cost management and are therefore confident to achieve further improvements.

“Growth opportunities will arise mainly in regions outside of Western Europe, and in the first quarter 2013, we have seen positive developments particularly in North America, Middle East, Eastern Europe and South Asia,” he said.