The double-digit percentage decline trend in volume registered by the Kuehne + Nagel logistics group in the previous six quarters was interrupted in the period April-June of this year when the company's net sales amounted to 6.05 billion Swiss francs, with an increase of +1.2% over the corresponding period of 2023 and with a growth of +9.5% on the previous quarter. The slight rise year-on-year was generated by the increase in turnover from the air freight sector, which is was equal to 1.81 billion, with an increase of +9.4% on the second quarter of 2023, while that produced by shipments decreased by -2.8% to 2.13 billion and Net sales from shipments also decreased which amounted to €910 million (-0.8%) and the generated by contract logistics amounted to 1.20 billion francs (-1.2%).

The increase in air freight revenue was produced by the +7.3% growth in the volumes of goods sent to by air which amounted to 517 thousand tons. In the segment of maritime shipments, volumes decreased by -0.9% being 1.10 million TEU containers.

In the second quarter of 2024, the group recorded a EBITDA of CHF 604 million (14.8%), with a contribution of €206 million from maritime shipments (-32.0%), €132 million million from air shipments (-15.4%), 52 million from road shipments (-5.5%) and €219 million from contract logistics (+9.5%). Group operating profit was 402 million (-23.1%) to which the air freight segment was was the only one to contribute with a negative result equal to to -304 million, while the contribution from the other three main business areas even if - with regard to shipments by sea and those - lower than that of the second quarter of 2023. Kuehne + Nagel closed the period April-June 2024 with a profit net of CHF 298 million (-25.1%).