The Kuehne+Nagel Group generated net turnover of CHF 24.8 billion in 2024, an increase of 4% year-on-year. The EBIT amounted to CHF 1.7 billion with earnings of CHF 1.2 billion. The conversion rate, which describes the ratio of EBIT to the Group's gross profit, was 19%. These 2024 results once again significantly exceeded the comparable figures from before the pandemic.
Stefan Paul, CEO of Kuehne+Nagel International AG said: "The streamlining of Kuehne+Nagel's organisational and sales structure in April 2024 already yielded visible successes in the second half of the year. In addition, we enabled new growth opportunities through acquisitions in North America and Asia. In short, we have created a more efficient organisation with a broader offering to achieve our future ambitions. Kuehne+Nagel will report on strategic progress and provide a financial outlook at the upcoming Capital Markets Day on March 25, 2025."
Net turnover in the business unit Sea Logistics rose to CHF 9.3 billion in 2024 with EBIT of CHF 851 million. The container volume through December 2024 was 4.3 million TEU. The conversion rate remained high at 41%.
Kuehne+Nagel strengthened its presence in the United States with the acquisition of 51% of IMC Logistics from Collierville, Tennessee. IMC, which handles about 2.2 million TEU annually, specialises in comprehensive end-to-end transportation solutions between seaports, rail hubs, and customer facilities within the United States. The transaction was announced in November 2024.
Net turnover in the business unit Air Logistics in 2024 increased to CHF 7.3 billion with EBIT of CHF 478 million. The unit handled 2.1 million tonnes of freight in 2024, 6% more than in the previous year. The conversion rate was 27%.
Kuehne+Nagel Air Logistics once again proved its resilience in challenging markets, thanks to its broad positioning, especially in the perishables, pharma, semiconductors and aerospace sectors.
Net turnover in the business unit Road Logistics totaled CHF 3.5 billion in 2024 with EBIT of 98 million. The volume totaled nearly 24 million orders, but the weak economic development in Europe affected the general cargo business.
The acquisitions of the customs broker Farrow in Canada and the road logistics provider City Zone Express in South East Asia expanded Kuehne+Nagel's Road Logistics service offering and contributed to growth.
Net turnover in the business unit Contract Logistics totaled CHF 4.7 billion in 2024 with a record-high EBIT of CHF 227 million.
In September 2024, Kuehne+Nagel opened a highly automated fulfilment centre for Adidas in Mantova, Italy. The 130,000 sqm facility serves Southern and Eastern Europe with up to 500,000 daily shipments, from single e-commerce parcels to bulk orders for large retailers.
Dr. Joerg Wolle, Chairman of the Board of Directors of Kuehne+Nagel International AG said:
"Kuehne+Nagel looks back at a successful financial year 2024. We achieved the positive results despite extensive strains on the global economy and despite geopolitical events. In these challenging times, Kuehne+Nagel once again proved to be a reliable strategic partner, supporting its customers with sophisticated logistics solutions.
We would like our shareholders to participate in the company's success by proposing an ordinary dividend of CHF 8.25 per share for the 2024 financial year, corresponding to a dividend yield of 4.0%.
Kuehne+Nagel has started well into the new financial year. We are confident that the positive development will continue in 2025."
For more information:
Kuehne+Nagel
[email protected]
www.newsroom.kuehne-nagel.com