SWITZERLAND – Kuehne+Nagel, a leading global logistics company, has experienced a net turnover of CHF 4.1 billion (USD 4.6 million) in its sea logistics unit for the first half of 2024, marking a 17 percent decrease compared to the previous period.

Earnings before interest and taxes (EBIT) also fell sharply by 38 percent to CHF 397 million (USD 446.9 million).

This downturn is attributed to various factors, including a decline in container volume and increased complexities in global supply chains.

Despite the setbacks, the company has been working to enhance its services. “The container volume at the end of June 2024 was 2.1 million standard containers,” stated the company.

Additionally, Kuehne+Nagel has been proactive in expanding its customer support, having opened 34 new care locations under its Roadmap 2026 initiative. These efforts are aimed at better supporting small and medium-sized enterprises (SMEs).

Moreover, the company is adopting more sustainable practices, such as using biofuel for transporting relief goods, which reduces CO2 emissions by around 85 percent.

In contrast, Kuehne+Nagel’s air logistics unit reported a net turnover of CHF 3.4 billion (USD 3.8 billion), with EBIT decreasing by 28 percent to CHF 210 million (USD 236.4 million).

Although turnover saw a 9 percent increase in the second quarter, the EBIT fell by 17 percent to CHF 116 million. The air logistics unit handled over one million tonnes of air freight in the first six months of 2024, a 5 percent increase from the previous year.

The company focused on high-value segments like healthcare and semiconductors, which contributed to this growth. “Demand for combined sea-air logistics services recorded strong growth in the first half of 2024,” noted a company representative.

Kuehne+Nagel also saw declines in its road logistics and contract logistics segments, with revenues dropping by 6 percent to CHF 1.8 billion (USD 2 billion) and CHF 2.3 billion (USD 2.5 billion), respectively.

Despite these challenges, the company remains optimistic about its future. “Kuehne+Nagel performed well in the first half of 2024,” said Joerg Wolle, Chairman of the Board of Directors.

“The streamlined organisational structure, initiated by the Board of Directors in April 2024, will lead to a significant increase in efficiency and greater customer proximity.”

With over 80,000 employees across nearly 1,300 sites in close to 100 countries, Kuehne+Nagel continues to serve around 400,000 customers globally.

The company aims to leverage its strategic initiatives to navigate the evolving logistics landscape and meet future demands.

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