NewsWeek Kuehne + Nagel back on track
SWITZERLAND-based for- warder Kuehne+Nagel (K+N) enjoyed a year-on-year rise in both revenue and gross profit over the first six months of 2012. Despite what it described as
a “difficult economic environ- ment”, turnover rose by 2.8 percent over the same six months of 2011 to reach CHF10.06 billion (US$10.2 billion). Gross profit improved by 2.6 percent year-on-year to reach CHF3.03 billion ($3.08 billion). But the news was not all
good, as earnings fell, in part due to a one-off expense asso- ciated with a fine incurred for anti-trust activity.
Reinhard Lange, CEO of
Kuehne + Nagel International AG, remarked: “In the first half of 2012, muted consump- tion in all parts of the world and increased market volatility influenced the global logistics business. “Softened demand affected
in particular the trades from Asia to Europe and North America and slowed down vol- ume development in sea freight and air freight. “Nevertheless, we achieved
above market volume growth in both sectors,” Lange said, commenting: “Our industry- specific logistics solutions positively contributed to this development.” In terms of air freight, K+N
noted that the segment con- tinued to slump in the second quarter of this year. While vol- umes across the market were down, K+N continued to focus on the expansion of its business in specific areas, such as perishable shipments, and to provide what it describes as “industry-specific air freight solutions”. As a result, its shipment
tonnages actually rose year-on- year, by approximately 1
Lange: “market volatility influenced the global logistics business”
percent – although its opera- tional result in the air freight sector fell, by 10.9 percent year-on-year. K+N International chair-
man Karl Gernandt added: “The Kuehne + Nagel Group demonstrated its strengths in the current market condition, especially in the second quar- ter; in the meantime, the implemented cost-reduction programme had a positive effect and the Group is getting back on track to achieve the profitability and productivity goals set for the full year 2012.”
IN A JOINT statement, UPS and TNT Express have noted that the former’s proposed acquisition of the latter is not expected to be completed before the fourth quarter of this year. Due, the two express service
providers said, to complexities in the deal that require “more time to analyse”, the European Commission has moved to a Phase II review, an investiga- tion that can take up to 25 weeks to finish.
Acquisition forecast for Q4 2012 The companies said that
they welcome the opportunity to further engage with the Commission but that they both remain convinced the merger “will benefit customers and other stakeholders”. They added that “the com-
bined network will help facilitate the flow of trade, making customers more com- petitive not just in US and European markets, but also in markets across Asia and Latin America”.
Farnborough air show a big success
FARNBOROUGH Interna- tional Ltd (FIL), organiser of the recent Farnborough Inter- national Air Show, has said that orders and commitments announced during the week were worth a total of US$72 billion for 758 aircraft. The figure of $72 billion represents a 53 percent rise on
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the 2010 total and is close to the 2008 high of $88 billion. FIL also confirmed that the
show attracted 107,000 trade visitors and over 1,500 exhibitors. Static displays included a
Qatar Airways B787 ‘Dream- liner’ and a Malaysia Airlines A380.
23 July 2012
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