Net profit of Kuehne&Nagel Group, one of the world’s largest logistics companies, decreased by 14.4% (6.4% excluding currency exchange rates changes and procurements) in January-September, 2009. The company’s net profit amounted to CHF387 million within 3 quarters current year млн швейцарских франков (current exchange rate - $0.98985 per a franc) as compared to CHF452 million received within the corresponding period of the previous year, informed IA RZD-partner.ru.
EBITDA reduced by 10% (to CHF694 million from CHF 771 million). Gross profit decreased by 7.3% (to CHF4.388 billion against CHF4.731 billion previous year). Business amount amounted to CHF12.8 billion in January-September, 2009 against CHF16.305 billion in the same period of 2008.
Kuehne&Nagel Group highlighted that first six moths of the current year freight situation was characterized by a significant slump in volumes against QIII figures that showed first signes of recovery.
It is also informed sea freight volumes increased by 11% as compared to April-June. Still the decrease in January-September current year amounted to 8.5% against the same period of the previous year.
Air freight tonnage increased by 7% as compared to the previous three months, but decreased by 15.5 % in January-September 2009 against the corresponding period of 2008.
Kuehne & Nagel was founded in 1890. The company has about 55 thousand employees working in more than 100 countries.