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Freight forwarder Kuehne+Nagel posts fall in second-quarter operating profit
Freight forwarder Kuehne+Nagel posts fall in second-quarter operating profit

Yahoo

time6 days ago

  • Business
  • Yahoo

Freight forwarder Kuehne+Nagel posts fall in second-quarter operating profit

(Reuters) -Swiss logistics group Kuehne und Nagel reported a 15% drop in its second-quarter operating profit on Thursday, citing significant negative foreign exchange impacts in its Sea Logistics division. Its earnings before interest and taxes (EBIT) fell to 342 million Swiss francs ($431.76 million) in the three months ended June 30, missing analysts' median forecast of 363 million Swiss francs. On a currency-adjusted basis, EBIT declined by 9%. The company attributed the miss to an extraordinary provision of CHF 16 million related to an ongoing tax fraud investigation in Italy. The freight forwarder, which operates in more than a 100 countries, said its underlying earnings outlook and expectations for 2025 remain unchanged. However, due to persistent currency headwinds, Kuehne + Nagel has lowered its recurring EBIT forecast to the range of CHF 1.45 billion-CHF 1.65 billion from CHF 1.50 billion-CHF 1.75 billion. Analysts are expecting a median operating profit of 1.53 billion francs for 2025, a company-provided poll showed. Since the Covid-19 pandemic, logistics firms have weathered a series of disruptions from port congestion and labor strikes to geopolitical tensions and attacks on key shipping routes. More recently, the sector has been hit by a new wave of uncertainty stemming from U.S. tariff hikes and retaliatory measures by trade partners. These developments have reignited volatility across global supply chains and weighed heavily on demand visibility. Kuehne + Nagel has not been spared. The company's shares hit their lowest level since August 2020 in early April following the announcement of new U.S. tariffs. The stock, which is under pressure after issuing subdued EBIT guidance for 2025, has been underperforming the logistic sector over the last six months with declines of 15%. ($1 = 0.7921 Swiss francs)

Freight forwarder Kuehne+Nagel posts fall in second-quarter operating profit
Freight forwarder Kuehne+Nagel posts fall in second-quarter operating profit

Reuters

time6 days ago

  • Business
  • Reuters

Freight forwarder Kuehne+Nagel posts fall in second-quarter operating profit

July 24 (Reuters) - Swiss logistics group Kuehne und Nagel (KNIN.S), opens new tab reported a 15% drop in its second-quarter operating profit on Thursday, citing significant negative foreign exchange impacts in its Sea Logistics division. Its earnings before interest and taxes (EBIT) fell to 342 million Swiss francs ($431.76 million) in the three months ended June 30, missing analysts' median forecast of 363 million Swiss francs. On a currency-adjusted basis, EBIT declined by 9%. The company attributed the miss to an extraordinary provision of CHF 16 million related to an ongoing tax fraud investigation in Italy. The freight forwarder, which operates in more than a 100 countries, said its underlying earnings outlook and expectations for 2025 remain unchanged. However, due to persistent currency headwinds, Kuehne + Nagel has lowered its recurring EBIT forecast to the range of CHF 1.45 billion-CHF 1.65 billion from CHF 1.50 billion-CHF 1.75 billion. Analysts are expecting a median operating profit of 1.53 billion francs for 2025, a company-provided poll, opens new tab showed. Since the Covid-19 pandemic, logistics firms have weathered a series of disruptions from port congestion and labor strikes to geopolitical tensions and attacks on key shipping routes. More recently, the sector has been hit by a new wave of uncertainty stemming from U.S. tariff hikes and retaliatory measures by trade partners. These developments have reignited volatility across global supply chains and weighed heavily on demand visibility. Kuehne + Nagel has not been spared. The company's shares hit their lowest level since August 2020 in early April following the announcement of new U.S. tariffs. The stock, which is under pressure after issuing subdued EBIT guidance for 2025, has been underperforming the logistic sector over the last six months with declines of 15%. ($1 = 0.7921 Swiss francs)

K+N posts 7% jump in 1st quarter operating profit, confirms outlook
K+N posts 7% jump in 1st quarter operating profit, confirms outlook

Reuters

time24-04-2025

  • 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)

K+N posts 7% jump in 1st quarter operating profit, confirms outlook
K+N posts 7% jump in 1st quarter operating profit, confirms outlook

Yahoo

time24-04-2025

  • 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

Logistics firm Kuehne+Nagel to profit from complexities around global trade war
Logistics firm Kuehne+Nagel to profit from complexities around global trade war

Reuters

time25-03-2025

  • 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.

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