Business, Forwarding, Freight News, Logistics

Strong start for Kuehne+Nagel

[ April 27, 2021   //   ]

Swiss-headquartered forwarder Kuehne+Nagel says the first quarter of its 2021 business year was marked by a strong demand for ransport services, especially for pharma and e-commerce fulfilment. Kuehne+Nagel achieved a net turnover of over CHF6.0 billion (34.72bn), EBIT of CHF 431 million and earnings for the period of CHF 318 million were all significantly higher year-on-year, it added.

Container volumes in the first quarter of 2021 were up 2% year-on-year at 1.1 million TEU, despite a decline in recyclables demand.

Air Logistics saw a return to trade volume growth in the first quarter of 2021, the first time in more than two years. Kuehne+Nagel said its expertise in dealing with limited global capacity was particularly crucial for the transport of pharma and essential goods.

Road Logistics saw 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.