Kuehne + Nagel expects to continue winning market share this year after strengthening its grip on freight markets during 2009.
The company said unprecedented declines in turnover and volumes in the first half of 2009 eased in the second half, when logistics demand started to recover. But despite the tough trading conditions, the forwarding and logistics group claimed to have made market share gains in all business fields.
Announcing net earnings of Sfr467m (US$435m) in 2009, a year-on-year decline of more than 20%, CEO Reinhard Lange said:“We will further enhance our product offering, develop new areas of value creation and increase our service quality to make Kuehne + Nagel an even more attractive logistics partner for companies in trade and industry.”
In 2009, the company saw turnover decrease by 19.4% to Sfr17,46m, with gross profit down 26.2%.
Ocean volumes fell only 4.6%, although the operational result decreased by almost 18%.
Air freight volumes were down 9.2%, which KN said was less than the market average and had helped the company become the world’s third-largest air freight forwarder.
In road and rail logistics, KN compensated for falling European road transport volumes by making full-truckload and less-than-truckload market share gains.
Ebitda margin increased from 0.8% to 2.1% for the business unit and the operational result improved by 126.1%, boosted by the 2009 acquisition of the French Alloin Group.
“The good performance in the crisis year of 2009 was due to its operational strengths and the timely and consistent execution of its strict cost management and commitment to market share expansion,” said Karl Gernandt, executive VP.
“Thus, we were able to considerably strengthen our global market position. In addition, we took advantage of the crisis to further improve organisational and operational efficiencies.”
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