The fourth quarter of 2023 was the fifth period consecutive quarterly report of negative financial performance for the Kuehne + Nagel logistics group and reflects the deterioration of the markets in which the Swiss company operates, with a maritime shipments, which continues to decline after the all-time records reached between 2021 and 2022, despite a Appreciation of freight rates in the container segment at the end of 2023 mainly determined by the geopolitical crisis in the Middle East and Red Sea, with an air freight sector which declined last year, showing signs of recovery at the end of 2023, and with a market for land shipments which, like the other two business segments, was affected by the the weakening of the world's major economies.

In the period October-December last year, the revenues of the totalled 6.31 billion Swiss francs (6.6 billion Swiss francs) billions), with a reduction of -34.8% on the corresponding period of 2022. Ebitda and profit operating income amounted to €520 million (-38.3%) and CHF 322 million (-50.0%) and net profit amounted to CHF 283 million (-42.7%).

In the last quarter of 2023, the shipment segment alone in which cargoes of 1.1 million euros were handled. million TEU containers (+1.6%), revenues amounted to 2.09 CHF billion (-52.0%) and the contribution of these activities EBITDA and EBIT amounted to €146 million (-54.7%) and CHF 140 million (-54.8%). In the shipping industry in which 533,000 tonnes of loads (-2.2%), revenues amounted to €2.03 billion (-26.1%), EBITDA of CHF 143 million (-48.9%) and EBIT of CHF 126 million (-51,5%). The Ground Freight segment closed fourth quarter of 2023 with revenues of €963 million (-14.8%), an EBITDA of €24 million (-31.0%) and EBIT of €14 million (-46.2%).

For the full year 2023, the group's revenues were CHF 26.65 billion (-38.1%), of which CHF 9.93 billion (-51.8%) generated by maritime shipments, €7.46 billion (-39.6%) from air shipments and €4.09 billion (-11.0%) from shipments Terrestrial. Kuehne + Nagel closed the year with EBITDA and EBIT of CHF 2.68 billion (-40.9%) and CHF 1.90 billion respectively (-49.4%), with contributions of €1.04 billion (-49.5%) and €1.01 billion billion (-49.8%) from maritime shipments, to 624 million (-58.1%) and €555 million (-60.6%) from air shipments and €191 million (-7.7%) and €133 million (-8.9%) from land shipments. The Useful Group net income was CHF 1.46 billion (-47.9%).

Meanwhile, Kuehne + Nagel has entered into an agreement to acquire the City Zone Group of Companies del gruppo Chasen Holdings di Singapore for 67.4 million Singapore dollars (about 46 million euros). City Zone Group of Companies is made up of Malaysia's City Zone Express and its subsidiary City Zone Express Warehouse, Singapore's City Zone Express and its subsidiaries, the Vietnamese City Zone Express Vietnam Co., Thailand's City Zone Express Co. and City Zone Express Worldwide Co. and China's City Zone Express (Shanghai). City Zone Group of Companies, which collectively counts more than 500 employees, operates in the logistics sector in Malaysia, Singapore, Vietnam, Thailand and China, has a fleet of 260 vehicles and has 80 thousand square meters of warehouses.