Kuehne+Nagel post record high profit for 2022
Logistics major Kuehne+Nagel reported a 30 percent jump in earning over 2022, hitting a figure of ₣2.8 billion ($2.9 billion). The company’s net turnover increased by 20 percent to ₣39.4 billion ($42 billion).
From today’s perspective, the macroeconomic environment will remain challenging in 2023 due to geopolitical developments and inflation, the company’s statement reads. However, Kuehne+Nagel expect the positive growth and earnings trend that has continued for many years to continue this year, albeit excluding the exceptional business volumes and results in financial years 2021 and 2022, which were the result of a corona-related special economic situation.
Commenting on the results, Stefan Paul, CEO of Kuehne+Nagel International said, “The 2022 financial year was exceptional for Kuehne+Nagel in many respects – a year of great financial success, but also with challenges for us and our customers. Thanks to our dedicated employees, we were able to provide our customers around the world with high-quality logistics services.”
“Now is the right time to launch our new strategic Roadmap 2026 and ensure Kuehne+Nagel’s sustainable future success with a dedicated focus on quality, customer satisfaction and employee motivation,” he said.
All K+N units boost results
The company noted in its report that all business units have contributed to the performance over 2022. Sea Logistics saw the net turnover reach ₣18.8 billion, with container volumes reaching 4.4 million TEU as complexity of global ocean freight markets eased.
Net turnover in the Air Logistics business unit was ₣11.7 billion. Demand for cargo capacity remained high on most trade routes. Following the turbulence in commercial aviation in the summer of 2022, supply of capacity remained volatile in the second half of the year, the company said in its report.
Net turnover of the Road Logistics business unit amounted to ₣4.0 billion while Contract Logistics business unit reached a net turnover of ₣4.9 billion. The Contract Logistics premises were heavily utilised worldwide. In 2022 alone, the unit implemented more than 150 new logistics projects – often large-scale warehouses with state-of-the-art technology and robotics, the statement reads.
Joerg Wolle, Chairman of the Board of Kuehne+Nagel International, said, “The Kuehne+Nagel Group performed extremely well in the 2022 financial year and took advantage of the opportunities that emerged from the challenging, extremely complex macroeconomic situation. The company achieved a new record in both net turnover and profit.”
The company has unveiled its new strategic Rodmap 2026, an organic development on Roadmap 2022,and covers the coming four years.
The Roadmap 2026 consists of four mutually supporting, cross-divisional cornerstones, namely the Kuehne+Nagel Experience, Digital Ecoystem, Living ESG and Market Potential which includes geographic growth plans and high-margin service offerings.