Latest news with #KNIN.S
Reuters
24-04-2025
- Business
- Reuters
K+N posts 7% jump in 1st quarter operating profit, confirms outlook
April 24 (Reuters) - Swiss logistics group Kuehne und Nagel (KNIN.S), opens new tab reported a 7% increase in its first-quarter operating profit on Thursday, helped by improved profitability in sea and air logistics amid a challenging global economic environment. Its earnings before interest and taxes (EBIT) rose to 402 million Swiss francs ($485.04 million) in the first three months of 2025 from 376 million a year earlier. here. Analysts expect global logistic companies to benefit from rising market uncertainty caused by sweeping U.S. tariffs, as supply chain issues and trade complexities prompt companies to charge higher fees for their services. The company said it will not update the Group recurring EBIT guidance for the current year, in light of the elevated and fluctuating level of market uncertainty, including global tariff developments. Last month the company said it expected recurring EBIT between 1.50 billion and 1.75 billion Swiss francs ($1.70-$1.98 billion) for this year. "Kuehne+Nagel has had a strong start in the new financial year. We increased our market share, gained new customers, and also improved profitability," Chief Executive Officer Stefan Paul said in a statement. The group said its sea and air logistics business recorded 7% and 23% rises in first quarter EBIT. ($1 = 0.8288 Swiss francs)
Reuters
25-03-2025
- Business
- Reuters
Logistics firm Kuehne+Nagel to profit from complexities around global trade war
March 25 (Reuters) - Swiss logistics group Kuehne und Nagel (KNIN.S), opens new tab on Tuesday said it has been capitalizing on increasingly complex global trade issues - from U.S. President Donald Trump's tariffs to the Red Sea crisis - by charging customers more for value-added services. Since the Covid-19 pandemic, shipping and logistics firms have had to navigate several supply chain crises from backed-up sea ports in the United States and China to worker strikes and Houthi attacks on vessels in the Suez Canal. More recently, supply chains have been rocked by the threat and implementation of Trump's tariffs on U.S. imports, and subsequent retaliatory levies imposed by the country's trade partners. There is huge customer demand for consultancy services in navigating through difficult times, CEO Stefan Paul said in a call on the company's capital markets day. Trump's tariffs, aimed at protecting domestic industries and reducing trade deficits, have had significant impact on logistics companies. "The inflationary impact of tariffs could likely hurt demand," Parash Jain, Global Head of Transport & Logistics research at HSBC, said, adding that the complexity will continue to increase with the several layers of tariffs across countries and types of cargoes. However, for logistics services providers, the added complexity has created an opportunity to expand advisory and customs services beyond traditional transportation brokering, he added. Kuehne und Nagel said last week it plans to open a new site at Texas-Mexico border to meet growing demand for customs support between the United States and Mexico. The COVID-19 pandemic caused global supply chain disruptions, leading to a surge in demand for logistics services, boosting K+N earnings in 2021 and 2022.
Reuters
04-03-2025
- Business
- Reuters
Kuehne+Nagel's operating profit jumps 31%, but lags estimates
March 4 (Reuters) - Swiss logistics group Kuehne und Nagel (KNIN.S), opens new tab reported a 31% jump in its forth quarter operating profit on Tuesday, driven by improved profitability in its Sea and Air Logistics businesses, but missed market expectations for the metric. Like its ocean shipping peers, Kuehne+Nagel has benefited from longer sailing times and soaring freight rates as ships were rerouted around Africa to avoid attacks by Iran-backed Houthi militants in the Red Sea in support of Palestinians in Gaza. The freight forwarder's earnings before interest and taxes (EBIT) rose to 421 million Swiss francs ($470 million) in the final quarter of 2024 from 322 million a year earlier. That was below analysts' median estimate of 430 million francs in a company-provided poll. The company said its sea and air logistics businesses recorded 41% and 18% higher quarterly EBIT, respectively. The freight forwarder, which operates in more than 100 countries, said it would provide a financial outlook for 2025 at its upcoming Capital Markets Day event on March 25.
