Kuehne + Nagel Launches Cost-Cutting Program After Earnings Fall

By Nina Kienle

Kuehne + Nagel posted lower earnings and revenue and launched a cost-reduction program, flagging a challenging market and overcapacity.

The Swiss logistics company on Thursday posted a net profit of 206 million Swiss francs ($258.8 million)in the third quarter. That compares with 339 million francs in the same period a year earlier. Turnover fell 7% to 6.04 billion francs.

Analysts had estimated net profit at 209.9 million francs and turnover at 6.05 billion francs, according to Visible Alpha provided consensus estimates.

Earnings before interest and taxes fell to 285 million francs from 455 million francs, missing estimates of 307.9 million francs, according to Visible Alpha.

The company also launched a cost-reduction program, aiming for annual savings of at least 200 million francs, it said.

The company cut its full-year outlook for EBIT to more than 1.3 billion francs, from a previous forecast of between 1.45 billion and 1.65 billion francs. This is due to uncertainties and impact of trade tensions in the fourth quarter, it said.

Separately, Switzerland's Partners Group said it agreed to sell its 24.9% stake in logistics solution company Apex Logistics to Kuehne + Nagel, the majority shareholder. The transaction values Apex at an enterprise value of over $4 billion, Partners Group said. The sale, set to close in 2025, marks a full exit from the 2021 investment.

Write to Nina Kienle at [e-mail]

(END) Dow Jones Newswires

10-23-25 0140ET