Logistics major Kuehne+Nagel posted a rise in net earnings for the first nine months of the year. The company reported earnings of $2.29 billion, which was 73 percent above the figures reported in the first nine months of 2021. 

Commenting on the results, Stefan Paul, CEO of Kuehne+Nagel International, said, that the company has posted its best-ever nine-month results. “However, higher energy prices, broad-based inflation as well as geopolitical tensions drive additional volatility in supply chains. At the same time, the easing in sea and air freight markets translates to some relief for our customers. Our asset-light business model is primarily focused upon responding to our customers’ worldwide needs in a flexible manner while ensuring a high quality of service.”

From January to September 2022, net turnover increased by 40 percent to $30.5 billion, EBIT by 71 percent to $3.09 billion while free cash flow amounted to $2.59 billion.

In the Sea Logistics business unit, Kuehne+Nagel noted a steady decrease in the complexity of global sea freight markets, while volatility increased steadily in major trade routes.

Kuehne+Nagel once again championed environmentally friendly technologies in sea freight. With the purchase of biofuel linked to the shipment of 50,000 TEU in the third quarter of 2022, customers were given easy access to directly CO2e emission-free transport.

The unit had a net turnover of $14.7 billion. Container volumes were 3.3 million TEU through the end of September 2022. The Air Logistics unit had a net turnover of $9 billion with air freight volumes hitting 1.7 million tons through the end of September 2022.

Net turnover in the business unit Road Logistics amounted to $2.99 billion for the period from January to September 2022. High utilisation of networks in all regions once again delivered significant revenue growth. Overall, the result in the third quarter of 2022 was very strong.

Net turnover in the business unit Contract Logistics amounted to $3.59 billion for the period January to September 2022. Utilisation of warehouse space worldwide was again very high. Growth in the third quarter of 2022 was more pronounced year-on-year, the company said.