Switzerland · Delayed Price · Currency is CHF Kuehne + Nagel International AG Earnings Call Transcripts
Fiscal Year 2026
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Recurring EBIT exceeded guidance in Q1 2026, driven by cost reductions and stable yields, despite a 17% year-over-year EBIT decline. Guidance for 2026 was raised, with no major negative impact expected from Middle East disruptions.
Fiscal Year 2025
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Group EBIT declined 14% year-over-year due to yield pressure in sea logistics, but Q4 saw stabilization and strong free cash flow. AI initiatives and cost reductions are expected to drive future productivity, with 2026 EBIT guidance set at CHF 1.2–1.4 billion.
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Challenging market conditions led to lower yields and EBIT, but market share expanded in key segments. A CHF 200 million cost reduction program was announced, and the Apex stake buyout will increase net debt but is expected to be EPS accretive.
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Market share gains in Sea and Air Logistics drove volume growth above market rates, but currency headwinds weighed on EBIT and EPS. Guidance for 2025 EBIT was lowered by 5% due to FX, with stable profitability and continued market share gains expected in H2.
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Q1 2025 saw strong market share gains, 8% gross profit growth, and robust EBIT increases, especially in Sea-Air and Air Logistics. Free cash conversion was unusually high, and guidance remains unchanged amid ongoing market uncertainty.
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Ambitious targets include 1.5x GDP growth, a 35% conversion rate for sea and air logistics, and an 80% dividend payout. Strategic focus is on organic growth, digitalization, and high-value verticals, with enhanced financial guidance and disciplined capital allocation.
Fiscal Year 2024
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Solid 2024 results with EBIT growth in H2, strong cash conversion, and record Contract Logistics EBIT. Market share gains in key segments, ongoing cost discipline, and a stable dividend set the stage for continued improvement in 2025.
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Q3 saw sequential and year-over-year EBIT growth, driven by volume gains, cost control, and contract logistics expansion. Sea and air logistics delivered strong conversion rates, while ongoing portfolio optimization and digital initiatives support future growth.
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Q2 EBIT improved sequentially, driven by seasonal volume uplift and cost management, with adjusted EBIT at CHF 419 million. Stronger profits are expected in H2, supported by higher sea and air freight yields, while cost savings and technology initiatives continue to enhance efficiency.