Kuehne+Nagel: Profitability stabilized at high level in 2024

The Kuehne+Nagel Group achieved net sales of EUR 26.34 billion in 2024, an increase of 4% year-on-year. EBIT (earnings before interest and taxes) reached EUR 1.756 billion with a profit of EUR 1.3 billion. The conversion ratio, which describes the ratio of EBIT to the Group's gross profit, was 19%. These results for 2024 again significantly exceeded the comparable figures before the pandemic.

“The simplification of Kuehne+Nagel’s organizational and business structure in April 2024 already yielded visible results in the second half of last year. In addition, we have gained new growth opportunities through acquisitions in North America and Asia. In short, we have created a more efficient organization with a broader offering in order to meet our ambitions and commitments and to be able to implement our global Roadmap 2026 strategy,” said Stefan Paul, CEO of Kuehne+Nagel International AG.

Sea Logistics
Net sales in the Sea Logistics business unit increased to EUR 9.85 billion in 2024 with an EBIT of EUR 903.80 million. The container volume transported up to December 2024 was 4.3 million TEU. The conversion rate remained high at 41%.

Kuehne+Nagel has strengthened its presence in the United States with the acquisition of 51% of IMC Logistics, based in Collierville, Tennessee. IMC, which handles approximately 2.2 million TEUs annually, specializes in comprehensive end-to-end transport solutions between ports, rail hubs and customer facilities in the United States. The transaction was announced in November 2024.

Air Logistics
Net sales in the Air Logistics business unit increased to EUR 7.76 billion in 2024 with EBIT of EUR 507.66 million. The unit transported up to 2.1 million tons of cargo in 2024, up 6% from the previous year. The conversion rate was 27%.

Kuehne+Nagel Air Logistics once again demonstrated its resilience in challenging markets, thanks to its broad focus, particularly in the areas of perishable goods, pharmaceuticals and semiconductors.

Road Logistics
Net sales in the Road Logistics business unit reached almost EUR 3.7 billion in 2024 with an EBIT of EUR 104.08 million. The transport volume reached a total of almost 24 million orders, but the weak economic development in Europe generally negatively affected the freight forwarding business.

The acquisitions of customs broker Farrow in Canada and road logistics provider City Zone Express in Southeast Asia not only contributed to the expansion of Kuehne+Nagel's road logistics service offering, but also to the growth of the business unit.

Contract Logistics
Net sales in the Contract Logistics business unit totaled EUR 5.02 billion in 2024, with a record-high EBIT of EUR 241.08 million.

In September 2024, Kuehne+Nagel opened a highly automated distribution center for Adidas in Mantua, Italy. The 130,000 m2 facility delivers up to 500,000 shipments per day in Southern and Eastern Europe, from individual e-commerce packages to bulk orders for wholesalers.

“Kuehne+Nagel sees the 2024 financial year as a success. We achieved positive results despite the tensions in the global economy and geopolitical events. In these challenging times, Kuehne+Nagel has once again proven itself to be a reliable strategic partner that supports its customers with sophisticated logistics solutions. We want our shareholders to share in the company’s success by proposing a regular dividend of EUR 7.78 per share for the 2024 financial year, which corresponds to a dividend yield of 4.0%. Kuehne+Nagel has also started the new financial year well. We believe that the positive development will continue in 2025,” said Dr. Joerg Wolle, Chairman of the Board of Management of Kuehne+Nagel International AG.

For the period from January to September 2024, the Contract Logistics business unit achieved net turnover of EUR 3.75 billion and EBIT of EUR 173.34 million, which is again a very good result.