K+N in bullish mood as logistics sector bounces back
'Sector is capitalising on economic recovery'
The logistics market is back in full growth mode as the global economy bounces back, according to Reinhard Lange, CEO of Kuehne + Nagel International (K+N).
K+N saw accelerated growth in the second quarter of this year as turnover rose by almost 16%, year-on-year, to Sfr9.85 billion (US$9.4bn) and net earnings by 8.9% to Sfr281 million in the first six months of 2010.
“The entire logistics industry has capitalised on the economic recovery, resulting in rising transport volumes and increased warehouse utilisation,” said Lange.
The Switzerland-based forwarder handled 20% more sea freight volumes in the first half of 2010 than a year earlier.
“Kuehne + Nagel clearly outperformed the market and returned to its pre-crisis growth dynamics,” said a financial statement.
“The group gained market share in all trade lanes, performing particularly well in the export business to South and North America.”
Growth in K+N’s air freight business was a record 31% in the first half as volumes grew in all trade lanes, especially on routes to and from the Asia-Pacific region, while its contract logistics business saw turnover rise by 4.7% year-on-year as warehouse use was optimised, especially in North America.
Karl Gernandt, Executive Vice-chairman of Kuehne + Nagel International, said the group had won market share in all business units in the first half of 2010, while demonstrating strong profitability.
“As a result of the previous year’s investments in sales and product development, Kuehne + Nagel benefited from the improvement in global trade,” he added.
“Due to this convincing start, we are optimistic about the further development of our business. However, continued credit risks in some Southern Europe countries and the situation in international finance markets still require great vigilance.”
K+N saw accelerated growth in the second quarter of this year as turnover rose by almost 16%, year-on-year, to Sfr9.85 billion (US$9.4bn) and net earnings by 8.9% to Sfr281 million in the first six months of 2010.
“The entire logistics industry has capitalised on the economic recovery, resulting in rising transport volumes and increased warehouse utilisation,” said Lange.
The Switzerland-based forwarder handled 20% more sea freight volumes in the first half of 2010 than a year earlier.
“Kuehne + Nagel clearly outperformed the market and returned to its pre-crisis growth dynamics,” said a financial statement.
“The group gained market share in all trade lanes, performing particularly well in the export business to South and North America.”
Growth in K+N’s air freight business was a record 31% in the first half as volumes grew in all trade lanes, especially on routes to and from the Asia-Pacific region, while its contract logistics business saw turnover rise by 4.7% year-on-year as warehouse use was optimised, especially in North America.
Karl Gernandt, Executive Vice-chairman of Kuehne + Nagel International, said the group had won market share in all business units in the first half of 2010, while demonstrating strong profitability.
“As a result of the previous year’s investments in sales and product development, Kuehne + Nagel benefited from the improvement in global trade,” he added.
“Due to this convincing start, we are optimistic about the further development of our business. However, continued credit risks in some Southern Europe countries and the situation in international finance markets still require great vigilance.”
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