The Kuehne + Nagel Group made a net profit of CHF720 million (US$710 million) in 2016, a year-on-year increase of 6%, according to financial results released by the company.
“We set ourselves ambitious targets for 2016 and we are pleased with having achieved them and to report a new record result,” said Detlef Trefzger, CEO of Kuehne + Nagel International AG. “In a market environment characterized by multiple challenges, we were successful with our focus on customer requirements, our solution-oriented approach and our balanced service portfolio. In all business units we gained market share while further increasing overall profitability. Thanks to our portfolio of scalable industry-specific end-to-end solutions and our operational efficiency, we are well positioned for continued profitable growth, which we will accelerate by selected acquisitions.”
In the sea freight business, the company handled more than 4 million TEUs in a year for the first time, growing its volume by 6.1% over 2015.
In air freight, Kuehne + Nagel increased its tonnage by 4.3% to 1,304,000 tonnes, with significant contributions from temperature-sensitive goods, pharmaceuticals and perishables.
As for the contract logistics division, net turnover increased by 5.7%. The company implemented more than 100 new logistics projects for customers during the year.
Joerg Wolle, chairman of the board of directors at Kuehne + Nagel International AG, said that the group is in excellent shape and in a strong competitive position for the year ahead.
“Based on the 2016 full-year results, the company can look forward to the future with confidence,” he said. “Competence, professionalism and the high level of commitment among all employees worldwide, a proven long-term strategy, efficiency and effective cost control are the drivers for success. The board of directors thanks the management board for the very good performance. Both the management board and the board of directors will face the challenging market development and competitive environment with focus and full cmmittment.”
