Kuehne+Nagel reports CHF 925 million earnings for 2025

Kuehne+Nagel Group generated net turnover of CHF 24.5 billion in 2025. Recurring EBIT reached CHF 1.4 billion. Earnings amounted to CHF 925 million, down 25% from the previous year.

The group maintained its global number one position in sea and air freight volumes. Free cash flow surged 48% to CHF 917 million.

The company implemented a cost reduction program targeting over CHF 200 million in savings during the fourth quarter. The recurring conversion rate stood at 16%.

CEO Stefan Paul said the company gained significant market share in Air Logistics as a logistics partner to global cloud and server infrastructure providers. AI deployment built on established networks will be a key strategic pillar. Material productivity gains are expected over the next 18 months.

Sea Logistics recorded net turnover of CHF 8.8 billion with recurring EBIT of CHF 585 million. Container volumes reached 4.3 million TEU, confirming the global number one position. Small and medium-sized customers accounted for half of total volumes for the first time on a full-year basis.

Air Logistics posted net turnover of CHF 7.3 billion with recurring EBIT of CHF 454 million. Air freight tonnage grew 7% to 2.2 million tonnes. The business unit strengthened its position through outsized growth in services for cloud and data center customers in the U.S. The company acquired Eastway Global Forwarding Ltd. to expand time-critical aircraft-on-ground services.

Road Logistics recorded net turnover of CHF 3.5 billion and recurring EBIT of CHF 86 million. The weak European economic environment affected the groupage segment. Volume remained stable at 24 million orders. The acquisition of Spanish logistics provider TDN expanded the European groupage network.

Contract Logistics generated net turnover of CHF 4.8 billion and recurring EBIT of CHF 255 million, a new record. New distribution centers opened in Japan, Turkey, Vietnam and the UAE. Five additional hubs launched in India.

The Board proposed a dividend of CHF 6.00 per share, representing a 3.5% yield. The company expects 2026 recurring EBIT in the range of CHF 1.2 to 1.4 billion.

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