Kuehne + Nagel achieved a 3.3-percent, year-over-year revenue increase during the first half of 2013, ending the period at CHF 10.39 million ($10.94 million).
For the second quarter, revenue increased 1.4 percent compared to the second quarter of last year.
Gross profit rose 2.6 percent in the first half of the year to CHF 3.11 million on the strength of a 2.9-percent second-quarter bump. Earnings for the first six months rose 35 percent, year over year, to CHF 289,000.
Air freight at K+N showed the biggest gains out of all the transportation segments, with volumes rising by 3.7 percent between January and June. Officials, who also saw the highest 2013 volume occur in April, attributed this success to a focus on pharmaceutical, aviation and automotive work. Exports from Asia, Europe and North America also contributed to the increase in activity.
April also proved to be a busy month for ocean cargo, but growth moderated over the next two months, leaving ocean freight with a 3 percent increase in container volumes over the first half of the year. Activity was stagnant between Asia and Europe, but domestically, the two countries performed quite well. The company saw increased volumes in the transpacific lanes.
K+N officials said progress was made during the first half of the year in the road business operations. The full and parts load segments saw increased volumes, and profit stayed stable, year over year. In the second half of the year, K+N is expecting a boost in this segment from automotive, high-tech, industrial and pharmaceutical traffic.
Revenue for the first half of the year increased by 2.8 percent in the contract logistics business. The firm’s location master plan and a focus on global customers had a significant impact on the result. Earnings before interest and tax grew by 19.4 percent during the first half of the year.
Karl Gernandt, chairman of K+N’s board of directors, attributed some of the firm’s success to a re-focusing of efforts among K+N’s key services.
“In particular, the results achieved in the second quarter 2013 underline the fact that the measurements introduced to improve efficiency on a group-wide level are effective,” Gernandt said in a statement. “Although we do not anticipate a significant stimulation of global trade in the second half of the year, we will continue to focus on profitable growth.” - Jon Ross