News / Turnover and profits down as Kuehne + Nagel struggles through the pandemic

Kuehne + Nagel today reported reduced turnover and profits for the first nine months of the year, as it struggled to limit the effects of the coronavirus pandemic.

However, it did report year-on-year ebitda growth for both the nine-month and third-quarter periods.

The latter grew from Sfr472m ($520m) in 2019 to Sfr900m this year, but group revenue for the quarter was down 4%, to just over Sfr5bn, while nine-month group revenue declined 6.3% to Sfr14.8bn.

The group’s ocean freight arm saw a 8.3% ...