The Swiss logistics group Kuehne+Nagel has made a strong start to the 2025 financial year. The group’s net sales increased by 15 per cent to 6.3 billion Swiss francs (approximately 6.7 billion euros) in the first quarter, while operating profit (EBIT) rose by 7 per cent to 402 million francs. Net profit also improved by 9 per cent year-on-year to 303 million francs. The results reflect stable business development despite global uncertainties.
Growth was primarily driven by the sea and air freight segments. In sea freight, revenue grew by 30 per cent to CHF 2.5 billion. Volume reached approximately one million standard containers. Kuehne+Nagel also recorded growth in the air freight business: Revenue rose by 13 per cent to CHF 1.8 billion, and transport volume increased by 5 per cent to 514,000 tonnes.
Land transport is struggling with headwinds
The situation in land transport is different: The segment’s revenue remained virtually stable at CHF 871 million (+1%), while EBIT fell by 37 per cent to CHF 19 million. The company cites subdued demand in European markets as the main reason. As a result, network traffic utilisation was lower than in the first quarter of the previous year.
According to Kuehne+Nagel, there are no signs of a rapid turnaround:
“It cannot be assumed that the situation will improve in the short term,” the statement says.
Despite the difficult environment, the company is maintaining its full-year forecast for the current year. EBIT is expected to be between CHF 1.5 billion and CHF 1.75 billion and “will not be updated due to the current uncertainties surrounding trade tariffs,” the group explains.
Kuehne+Nagel achieved slight growth in contract logistics: Sales climbed to CHF 1.2 billion, and EBIT rose by 4 per cent to CHF 57 million (Q1 2024: CHF 55 million). New distribution centres, for example, for Sanofi (Turkey) and Rolls-Royce (Dubai), are expected to enable further growth.
The full integration of the US logistics company IMC Logistics was completed at the beginning of the year. The acquisition’s earnings contribution has been minimal so far, but is expected to increase in significance in the medium term, especially for the North American land transport business.
