Business, Forwarding, Freight News, Logistics

Kuehne+Nagel comes through the crisis

[ July 21, 2020   //   ]

Kuehne+Nagel Group said it achieved a good financial result in the second quarter and first half of 2020 in the face of the corona crisis. Market share gains and the cost savings had a positive impact, with net turnover for the first half-year CHF 9.8 billion – down just 7.5% on 2019 – and earnings before interest and tax (EBIT) CHF 419 million – down 18%.

Chief executive, Dr Detlef Trefzger, commented: “The crisis triggered by the coronavirus pandemic, which led to a lockdown in most countries, had profound and sudden negative impacts on international trade. We took the right measures early on and successfully managed Kuehne+Nagel under these difficult conditions. We expect the second half of the year to continue to be marked by major uncertainties, for which Kuehne+Nagel is well prepared.”