The Kuehne + Nagel Group reported that gross profits were up by by 8 percent to US$3.3 billion in the first six months of 2016, even as net sales decreased. The logistics provider\u2019s operating result (EBITDA) grew by 10 percent to $554.9 million, while earnings before tax and interest (EBIT) were up $45.6 million over the first half of 2015, at $461.6 million. Earnings for the first half grew by 9 percent to $361.2 million, compared to the previous year.
\nShrinking demand and excess capacity in the global airfreight market cranked up downward pressure on carrier\u2019s margins, K+N said. The feeling was apparently shared by others in the industry, as seen in IATA\u2019s most recent business confidence index survey, which found that executives in the air cargo business were dourer than ever.
\nKuehne + Nagel\u2019s air cargo revenues declined 4.1 percent to $1.9 billion in the first half of 2016. However, compared to the first half of 2015, air cargo tonnage increased by 1.3 percent so far this year, although the forwarder did not disclose actual tonnage figures in this report. The company also managed to increase its tonnage by 2.9 percent in the second quarter of 2016. This was credited to the expansion of \u201ccustomer-specific services and industry solutions.\u201d Strong export business in Asia, the Middle East and Africa also contributed, K+N said.
\nProfitability, reflected in the EBIT-to-gross profit margin of 30.8 percent, was slightly above the previous year\u2019s level. EBIT improved by 8.1 percent to $149.2 million.
\nDetlef Trefzger, CEO of Kuehne + Nagel International AG, explained that the first half of 2016 was \u201cshaped by different regional economic development trends. Global trade showed a lack of growth momentum.\u201d\u00a0 He added that Kuehne + Nagel had focused on \u201corganic growth and gaining market shares by offering industry-specific solutions once again led to increases in volumes and results.\u201d
\nSource: aircargoworld<\/p>\n","protected":false},"excerpt":{"rendered":"
The Kuehne + Nagel Group reported that gross profits were up by by 8 percent to US$3.3 billion in the first six months of 2016, even as net sales decreased. The logistics provider\u2019s operating result (EBITDA) grew by 10 percent to $554.9 million, while earnings before tax and interest (EBIT) were up $45.6 million over[…]<\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"false","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[8],"tags":[49],"class_list":["post-1685","post","type-post","status-publish","format-standard","hentry","category-news","tag-airport-code"],"_links":{"self":[{"href":"https:\/\/www.actlogistics.vn\/kr\/wp-json\/wp\/v2\/posts\/1685","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.actlogistics.vn\/kr\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.actlogistics.vn\/kr\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.actlogistics.vn\/kr\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.actlogistics.vn\/kr\/wp-json\/wp\/v2\/comments?post=1685"}],"version-history":[{"count":0,"href":"https:\/\/www.actlogistics.vn\/kr\/wp-json\/wp\/v2\/posts\/1685\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.actlogistics.vn\/kr\/wp-json\/wp\/v2\/media?parent=1685"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.actlogistics.vn\/kr\/wp-json\/wp\/v2\/categories?post=1685"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.actlogistics.vn\/kr\/wp-json\/wp\/v2\/tags?post=1685"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}