News / Kuehne + Nagel sees 2020 profits up despite revenues taking first-half hit

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Kuehne + Nagel today reported a full-year 5% growth in ebitda to Sfr1.9bn ($2.06bn) for 2020, despite seeing revenues decline by 3.4% to Sfr20.4bn after earnings were hammered in the first half.

The star performer in the group was its air freight forwarding arm, which despite a volume decline of 12.8% for the 12 months to 1.4m tonnes, saw full-year revenues grow 11.6% to Sfr5.2b and ebit by 53.5% to Sfr505m on the back of sky-high freight rates.

It also revealed that ...