K + N reports 5.4% increase in net profits

Swiss-based third-party logistics provider Kuehne + Nagel posted net profits of 679 million Swiss Francs for 2015, a 5.4 percent increase from 2014.    The Swiss-based Kuenhe + Nagel Group posted net profits of 679 million Swiss Francs (U.S. $679 million) for 2015, a 5.4 percent increase from 2014, according to the third-party logistics provider’s latest financial statements.
   Gross profits totaled CHF 6.25 billion, a 0.6 percent decline from 2014. In the Americas and in the Asia Pacific, gross profits increased 14 percent and 10.9 percent year-over-year, respectively. However, in the EMEA region, gross profits were hindered by the strong Swiss Franc, resulting in a 5.1 percent drop from 2014.
   The seafreight division saw gross profits per TEU increase 5.2 percent year-over-year for 2015 and the conversion rate rise from 30.3 percent for 2014 to 33.2 percent for 2015. However, the division handled 3.8 million TEUs during the year, the same amount as 2014.
   Volumes in the airfreight division rose 4.7 percent year-over-year to 1.25 million metric tons.
   “A key factor in the good performance was the focus on industry-specific airfreight solutions, which led to significant business wins in the pharmaceutical, aerospace and perishables sectors,” K + N said. In addition, the division’s conversion rate rose from 27 percent to 29.3 percent.
   Kuehne + Nagel’s overland division posted an EBIT (earnings before interest and taxes) of CHF 7 million, a year-over-year drop of 76.7 percent. The company primarily attributed the decline to an antitrust fine imposed by the French competition authority on 20 French parcel service providers.
   The contract logistics division’s EBIT totaled CHF 119 million, a 22.2 percent decline from 2014.