Volume Growth, Increased Gross Profit Through Third Quarter
The Kuehne + Nagel Group moves into the fourth quarter with reports showing successful volume growth and overall increased EBIT and earnings for the first nine months of 2018, supporting the hopes and anticipation of a successful end-of-year close.
The release details successes and challenges the company experienced within the seafreight, airfreight, overlan and contract logistics net turnover growth and performance snapshots from implemented business strategies.
The company increased seafrieght volume by 8.8 percent, doubling the growth as market and shipped 284,000 more TEUs than what was reported during the same time frame last year.
The contract logistics finished the first nine months strong with an increased net turnover of 10.6 percent and gross profit increase by 10.7 percent. On the business and strategy side of things, Kuehne + Nagel are moving forward with Chinese and Indonesian logistics companies pertaining to the automotive sector while continuing to operate the new digital warehouse management system.
Airfrieght tonnage increased by 16.0 percent to numbers exceeding market growth thanks to industry-pointed end-to-end solutions. Airfreight also provided an impressive 30.3 percent conversion rate and a 19.4 percent increase in EBIT.
Overall earnings for the period displayed a +7.4% variance from 2017, providing additional support that implemented strategies, planning and acquisition efforts align with industry success.
For more information on the report, visit: Kuehne + Nagel
Source: Kuehne + Nagel
Global Marine Lubricants Market to Hit $5.9 bn by 2024