Kuehne & Nagel first quarter profit down

Schindellegi, Switzerland: Kuehne & Nagel reported a 14% decline in first-quarter profit due to a one-off anti-trust fine and cost pressures but said it is confident intensified cost management will improve the second-half performance.

Turnover at  CHF4.83bn remained stable compared to the previous year’s period with currency adjusted increase of 5.4%. Gross profit improved by 3% (currency adjusted by 8.1%) to CHF1.5bnwhile the operational result (EBITDA) declined by 12% to CHF218m, including the one-off item for the antitrust fine to CHF153m.

Net earnings decreased by 14% to CHF133m  including the one-off item to CHF 68m.  “In the first quarter we had to cope with a number of adverse factors,” said Reinhard Lange, chief executive Kuehne & Nagel.

“We will counteract this trend with strict cost control and measures to improve productivity. Furthermore, profit margins declined in sea and airfreight. In addition, there are one-off charges due to a high antitrust fine, which was reported on March 28, 2012.

“As a consequence of the first quarter experiences, we have intensified our cost management, and are confident that the measures implemented as well as solid growth will contribute to an improvement of results in the second half of the year,” said Lange.


Daimler Trucks goes electric

Stuttgart, Germany: Daimler Trucks plans a range of electric trucks for urban distribution and long-haul transport and has launched a concept vehicle to demonstrate the …


Krone boosts telematics services

Werlte, Germany: Trailer maker Krone and Shippeo, which makes automated tracking systems, have partnered to provide real-time estimated time of arrival (ETA) for Krone’s trailer …


European Cold Chain Conference set for Rotterdam in November

Rotterdam, Netherlands: The 23rd GCCA European Cold Chain Conference is scheduled for 23 – 25 November 2020 at the Hilton Rotterdam. The conference for temperature controlled professionals will see …


Polish pharma firm opens new warehouse

Głogów. Poland: Polish pharmaceutical company Arra Group has opened a new temperature-controlled warehouse in Poland near Poznań. The company says the warehouse is in a …



  • Cold Chain Insight
    Cold Chain Insight into Energy, 16-20 November – the first of the new virtual insight series

Latest Tweets

This year's Cold Chain Leaders report (formerly Top 25) shows that @Culina_Group took the number one slot. Read what the chief execs say about 2020 plus tables on turnover, fleet size etc: bit.ly/3mYi3GF #logistics #SupplyChain #Coldchain pic.twitter.com/m4SMVG8DNp

© 2020 Global Cold Chain News | Terms of use | Privacy Policy
Commercial Transport Publishing Limited, registered in England and Wales, Company No: 6453302. Registered Office: 6 Corunna Court, Corunna Road, Warwick CV34 5HQ