Global forwarder Kuehne+Nagel (K+N) said that the continued recovery of the global economy led to strong demand for logistics services in the first half of 2021. All business units were able to significantly exceed prior year earnings.
At CHF 13.3 billion, the Group’s net turnover for the first six months of 2021 was 35% higher than in the same period of last year while EBIT more than doubled to CHF 1.0 billion.
Dr. Detlef Trefzger, CEO of Kuehne + Nagel International, said: “This year, we are experiencing uniquely high consumer demand combined with supply chain uncertainty.”
He added: “We expect demand to remain strong and look forward with confidence to continuing the positive development.”
K+N Air Logistics
Despite global capacity constraints, Air Logistics recorded significant volume growth in the first half of 2021 thanks to tailor-made customer solutions such as combined sea and air freight. The business unit again recorded strong market share gains. Transport solutions for pharma and essential goods as well as e-commerce were in particularly high demand.
From May onwards, the first-time consolidation of Apex also contributed to the overall result. The company is one of Asia’s leading freight forwarders, especially on the transpacific trade route. Together, Kuehne+Nagel and Apex offer their customers a compelling value proposition in the competitive Asian logistics industry, especially in e-commerce fulfilment, hi-tech and e-mobility.
Air freight volumes in the first half of 2021 were up 44% on the same period last year at 988,000 tonnes. Net turnover was CHF 4.0 billion and EBIT CHF 406 million. The conversion rate was 42.3%.
The demand for ecologically-friendly solutions such as Sustainable Aviation Fuel (SAF) expanded sharply over the period. In response, Kuehne+Nagel entered into partnerships with American Airlines, IAG Cargo (British Airways) and Air France-KLM Martinair Cargo.
K+N Sea Logistics
In the second quarter of 2021, the trend towards transporting higher value products in Sea Logistics continued. This, coupled with limited container capacity and reduced productivity across the supply chain, required a very high and sustained level of service intensity.
At 2.2 million TEU, container volumes in the first half of 2021 were up 3% on the same period last year. The unit’s net turnover was CHF 5.2 billion and EBIT CHF 504 million. The conversion rate again reached a new record level of 46.7%. The online platform Seaexplorer with actual information on the transport situation proved to be particularly valuable for Kuehne+Nagel’s customers.
The online platform Seaexplorer with actual information on the transport situation proved to be particularly valuable for Kuehne+Nagel’s customers.
| Kuehne+Nagel Group CHF million | H1 2021 | H1 2020 | Δ | Q2 2021 | Q2 2020 | Δ |
| Net turnover | 13,273 | 9,808 | 35% | 7,241 | 4,896 | 48% |
| Gross profit | 4,327 | 3,650 | 19% | 2,308 | 1,772 | 30% |
| EBITDA | 1,398 | 799 | 75% | 787 | 421 | 87% |
| EBIT | 1,036 | 419 | 147% | 605 | 235 | 157% |
| Earnings for the period | 764 | 309 | 147% | 446 | 170 | 162% |
