Kuehne & Nagel Q1 Profit Surges; Says Rest Of Year To Remain Challenging

(RTTNews) - Swiss logistics firm Kuehne + Nagel Group (KHNGY) reported Monday that its first-quarter earnings surged 128.8 percent to 318 million Swiss francs from last year's 139 million francs.

EBIT climbed 134.2 percent from the prior year to 431 million francs. EBITDA went up 61.6 percent to 611 million francs.

Net turnover increased 22.8 percent to 6.03 billion francs from last year's 4.91 billion francs, driven by high demand for Sea and Air Logistics services.

Looking ahead, Detlef Trefzger, CEO of Kuehne + Nagel, said, "We expect this environment to remain challenging for the remainder of another atypical year."