News / Kuehne + Nagel now an airfreight market leader, but had a poor Q4

Kuehne + Nagel secured its position as a market leader in air freight with its 2022 annual results, but like its rivals, suffered a poor fourth quarter.

Despite its protestations of “very strong” results, which saw annual net turnover increase by 20%, to CHF39.4bn ($42bn), ebit by 28%, to CHF3.8bn, and net profit by 30%, to CHF2.8bn, its Q4 “was weaker”.

Ebit fell 50% in air logistics, to CHF260m, on turnover down 39% at CHF2.6bn.

“The market in 2022 was characterised by a ...