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Kuehne+Nagel reported 2025 net turnover of CHF24.5 billion (US$31.3 billion) and recurring earnings before interest and taxes of CHF 1.4 billion
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Net earnings reached CHF925 million; recurring conversion rate stood at 16%
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Cost reduction program targeting over CHF200 million in savings implemented in Q4 2025
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Sea Logistics revenue: CHF8.8 billion; EBIT: CHF 585 million; volumes: 4.3 million TEU; 29% conversion rate
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Air Logistics revenue: CHF7.3 billion; EBIT: CHF454 million; volumes up 7% to 2.2 million tonnes; 26% conversion rate
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Road Logistics revenue: CHF3.5 billion; EBIT: CHF86 million; 24 million orders processed
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Contract Logistics posted a record EBIT of CHF255 million on CHF4.8 billion revenue
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Dividend proposed at CHF6.00 per share (3.5% yield)
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The logistics group’s 2026 recurring EBIT guidance is around CHF1.2-1.4 billion
Swiss freight forwarding and logistics group Kuehne+Nagel reported net turnover of 24.5 billion Swiss francs (CHF) – equivalent to about US$31.3 billion – for the financial year 2025.
Its recurring earnings before interest and taxes (EBIT) reached CHF1.4 billion despite what management described as a deteriorating economic environment, the global logistics operator said in a media release.
Net earnings amounted to CHF 925 million, while the group’s recurring conversion rate — the ratio of recurring EBIT to gross profit — stood at 16%.
A cost reduction program targeting more than CHF200 million in savings was implemented in the fourth quarter.
Stefan Paul, CEO of Kuehne+Nagel International AG, said the group delivered growth through disciplined execution.
“In a year marked by a deteriorating economic environment, we continued to deliver growth through the consistent execution of our strategy. As a logistics partner to global cloud and server infrastructure providers, we gained significant market share in Air Logistics, contributing to our unchanged global No. 1 positions in both the sea and air freight markets on a volume basis,” Paul said.
“The accelerated deployment of AI, built upon our established global networks and proprietary technology, will be a key strategic pillar with material productivity gains expected over the next 18 months,” he added.
For 2026, the company expects group recurring EBIT in the range of CHF1.2 billion to CHF1.4 billion.
Sea Logistics
Sea Logistics generated net turnover of CHF8.8 billion and recurring EBIT of CHF 585 million. Container volumes reached 4.3 million twenty-foot equivalent unit (TEU), confirming the group’s global number one position, with a recurring conversion rate of 29%.
The business expanded its base of small- and medium-sized customers, which, for the first time, accounted for half of total annual volumes, helping stabilize yield growth in the second half.
Air Logistics
Air Logistics posted net turnover of CHF7.3 billion and recurring EBIT of CHF454 million, translating to a 26% conversion rate. Air freight tonnage increased 7% year on year to 2.2 million tonnes.
Growth was driven by services for cloud and data center customers in the United States, strengthening the company’s global number one air freight ranking. The acquisition of Eastway Global Forwarding Ltd. expanded its time-critical aircraft-on-ground services portfolio.
Road Logistics
Road Logistics recorded net turnover of CHF3.5 billion and recurring EBIT of CHF 86 million. Volume remained stable at 24 million orders, although the weak European economy weighed on the groupage segment.
The acquisition of Spanish logistics provider TDN expanded its European network, while demand for AI-supported customs services increased.
Contract Logistics
Contract Logistics delivered a record recurring EBIT of CHF255 million on a net turnover of CHF4.8 billion.
New distribution centers were opened in Japan, Turkey, Vietnam, and the UAE, alongside five additional hubs in major Indian economic centers. Demand for integrated logistics solutions remained strong.
Dr. Joerg Wolle, chairman of the board of directors of Kuehne+Nagel International AG, said the group’s strategy delivered results despite difficult conditions.
“In times of seriously challenging market conditions, Kuehne+Nagel once again demonstrated its performance capabilities in 2025. While we did not enjoy any tailwind from the markets, our clear-cut strategy and here particularly the expansion of networks in markets such as North America and Asia, as well as the disciplined execution of the cost measures launched in the autumn produced good results,” he said.
“With a dividend proposal of CHF 6.00 per share – a yield of 3.5% – we enable our shareholders to participate in the company’s success again,” said Wolle.
