News / Contract logistics the star performer as K+N reports above-market growth for first quarter

Kuehne+Nagel (KN) today reported an above-market 11.2% growth in EBITDA in the first quarter of 2016, despite turnover falling 2% to just over Sfr4bn (US$4.15bn).

The company maintained its position as the world’s largest sea freight forwarder, seeing volumes increase 6%, while global volumes recorded a 1% growth in what has generally been regarded as one of the worst quarters for container shipping since the financial crisis in 2009.

KN said its gross profit per teu had also increased, by just over 1%, while EBIT ...