Kuehne + Nagel says it is  on track to reach its goals for profitable growth, despite a slip in turnover and EBITDA in its road and rail business.

Turnover in the division fell 2.5% to CHF2.28bn (£1.5bn) for the nine months ended 30 September 2013, compared to CHF2.34bn (£1.6bn) during the same period last year, its Q3 results have revealed.

EBITDA also dropped 21% to CHF22m (£15m), compared to CHF28m (£19m) last year.

K+N said the division has been focused on growing in the pharmaceutical, high-tech, automotive and industrial goods markets, as well as its international groupage and part- and full load work.

Contract logistics

However in contract logistics, K+N’s EBITDA rose 17.5% to CHF134m (£91.7m), up from CHF114m (£78m) for the same period in 2012, which it attributed to a concentration on end-to-end logistics for international customers.

Turnover in contract logistics also increased to CHF3.4bn (£2.3bn), an increase of 5.2% to CHF3.2bn (£2.2bn).

Detlef Trefzger, CEO, said: "Strict cost management will remain in place for the whole company and at the same time we will also continue to enhance the spectrum of solutions and the service quality for our customers."

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