KUEHNE+NAGEL's (K+N) airfreight business had a positive start to the year, with semiconductors and perishables leading the improvements.
The world's largest airfreight forwarder saw air turnover improve by 13 per cent year on year to CHF1.8 billion (US$2.17 billion), earnings before interest and tax (EBIT) was up 23 per cent to CHF116m and airfreight volumes improved by 5 per cent to 514,000 tonnes.
The forwarder said improvements were led by its semiconductor and perishable business, as well as its investment in China-based Apex Logistics.
Meanwhile, automotive was a drag on performance, according to London's Air Cargo News.
'Excluding the automotive sector, the business unit gained market share across all industries and particularly in semiconductors,' K+N said in a press release.
'New cool corridors for healthcare were opened between Brussels and Chicago as well as between Brussels and Singapore.'
At the company's recent capital markets day, it said that investment in semiconductor equipment is projected to grow at a compound annual growth rate (CAGR) of 8-9 per cent between 2025 and 2028.
Overall, K+N saw revenues improve by 15 per cent year on year to CHF6.3 billion, EBIT was up 7 per cent to CHF402 million and earnings increased 9 per cent to CHF303 million.
SeaNews Turkey
The world's largest airfreight forwarder saw air turnover improve by 13 per cent year on year to CHF1.8 billion (US$2.17 billion), earnings before interest and tax (EBIT) was up 23 per cent to CHF116m and airfreight volumes improved by 5 per cent to 514,000 tonnes.
The forwarder said improvements were led by its semiconductor and perishable business, as well as its investment in China-based Apex Logistics.
Meanwhile, automotive was a drag on performance, according to London's Air Cargo News.
'Excluding the automotive sector, the business unit gained market share across all industries and particularly in semiconductors,' K+N said in a press release.
'New cool corridors for healthcare were opened between Brussels and Chicago as well as between Brussels and Singapore.'
At the company's recent capital markets day, it said that investment in semiconductor equipment is projected to grow at a compound annual growth rate (CAGR) of 8-9 per cent between 2025 and 2028.
Overall, K+N saw revenues improve by 15 per cent year on year to CHF6.3 billion, EBIT was up 7 per cent to CHF402 million and earnings increased 9 per cent to CHF303 million.
SeaNews Turkey
