Latest news with #KuehneundNagel
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)
Yahoo
24-04-2025
- Business
- Yahoo
K+N posts 7% jump in 1st quarter operating profit, confirms outlook
(Reuters) -Swiss logistics group Kuehne und Nagel 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. 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) Sign in to access your portfolio
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.
Zawya
25-03-2025
- Business
- Zawya
European shares rise ahead of key German survey on business sentiment
European shares rose on Tuesday as investors awaited a German survey that could indicate the recent historic debt deal was improving business morale in the region's largest economy. The pan-European STOXX 600 index was up 0.3% at 0815 GMT. Most sectors advanced, with banks and energy being among the top gainers. A survey from Munich-based Ifo Institute, scheduled for 0900 GMT, is expected to show the business climate index rising to 86.7 in March, up from 85.2 the previous month. Germany's plans to invest hundreds of billions of euros in defence and infrastructure have led to upgrades for the euro zone economy, contributing to European equities outperforming their U.S. counterparts so far this year. Investors were also keeping an eye on U.S. trade policy that has roiled global markets this month. U.S. President Donald Trump said on Monday not all of his threatened levies would be imposed on April 2 and some countries may get breaks, sparking a rotation into battered U.S. stocks while European equities ended largely flat. Among stocks, Kuehne und Nagel slipped 2.7% after the Swiss logistics group warned its full-year operating profit could be lower than analysts' expectations due to global economic uncertainty. Shares in Germany-based lubricant supplier Fuchs rose 5.4%, topping the benchmark STOXX 600 index following the release of its results. (Reporting by Medha Singh in Bengaluru; Editing by Sherry Jacob-Phillips)
Reuters
25-03-2025
- Business
- Reuters
European shares rise ahead of key German survey on business sentiment
March 25 (Reuters) - European shares rose on Tuesday as investors awaited a German survey that could indicate the recent historic debt deal was improving business morale in the region's largest economy. The pan-European STOXX 600 index (.STOXX), opens new tab was up 0.3% at 0815 GMT. Most sectors advanced, with banks (.SX7E), opens new tab and energy (.SXEP), opens new tab being among the top gainers. Get a look at the day ahead in European and global markets with the Morning Bid Europe newsletter. Sign up here. A survey from Munich-based Ifo Institute, scheduled for 0900 GMT, is expected to show the business climate index rising to 86.7 in March, up from 85.2 the previous month. Germany's plans to invest hundreds of billions of euros in defence and infrastructure have led to upgrades for the euro zone economy, contributing to European equities outperforming their U.S. counterparts so far this year. Investors were also keeping an eye on U.S. trade policy that has roiled global markets this month. U.S. President Donald Trump said on Monday not all of his threatened levies would be imposed on April 2 and some countries may get breaks, sparking a rotation into battered U.S. stocks while European equities ended largely flat. Among stocks, Kuehne und Nagel (KNIN.S), opens new tab slipped 2.7% after the Swiss logistics group warned its full-year operating profit could be lower than analysts' expectations due to global economic uncertainty. Shares in Germany-based lubricant supplier Fuchs rose 5.4%, topping the benchmark STOXX 600 index following the release of its results.
