Kuehne + Nagel’s road and rail logistics division saw volumes fall in the third quarter due to seasonality and the tough economic conditions affecting Europe, dragging down its nine month performance.
It meant EBITDA was 9.6% down on the same period of last year for the first nine months of 2012 at CHF 28m (£18.7m). Despite this, invoiced turnover increased 6.9% to CHF 235m.
EBITDA within its contract logistics division in the nine-month period was flat year-on-year at CHF 115m, while turnover edged up 3% to chf 3.2bn (2011: CHF £3.1bn).
The company, which generates approximately two-thirds of its turnover in Europe but is also active in the Americas, saw group EBITDA in the nine months fall 5.6% to CHF 687m (2011: CHF 728m). Group trunover was CHF 15.5bn (2011: CHF 14.6bn).
In April 2011, K+N acquired RH Freight for CHF 88m Swiss Francs, which boosted turnover in its road and rail division rise 18% during the first quarter of this year.
