News / Kuehne + Nagel profits halve in Q3 – but 'we gained market share'

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Kuehne + Nagel this morning said it had delivered a “good performance” in the third quarter, a statement perhaps undermined by its hefty 52% drop in ebit.

That CHF321m ($358m) result, followed a 46% drop in turnover, to CHF5.4bn ($6bn), while for the nine months, ebit fell 49% to CHF1.58bn on turnover down 41%, at CHF18.1bn.

But chief executive Stefan Paul claimed the group had “performed well”.

“We gained market share and secured our yields. We achieved important successes in the implementation of ...