Kuehne+Nagel delivered first‑quarter results that exceeded market expectations, supported by robust business development across several divisions and meaningful cost efficiencies stemming from measures introduced last year.

The logistics group reported a net turnover of CHF 5.6 billion for the first quarter of 2026, with EBIT of CHF 343 million and earnings of CHF 248 million.

The company said the cost‑saving programme announced in October 2025 had a "material impact" on first‑quarter earnings, with costs per unit "sustainably reduced" as efficiency measures took hold.

The stronger‑than‑expected performance was also underpinned by a solid start to the year in Air, Road and Contract Logistics, even as geopolitical tensions weighed on Sea Logistics volumes.

"Thanks to disciplined cost management, Kuehne+Nagel made a strong start to the year in Air, Road and Contract Logistics. Sea Logistics was affected short‑term by disruptions in the Middle East. We are closely monitoring the situation, particularly with regard to rising energy prices and the possible impact on consumer demand," said Stefan Paul, CEO of Kuehne+Nagel International AG.

"As the markets continue to be volatile, our access to a global network and close collaboration with customers enable us to respond swiftly and flexibly to fast‑changing conditions. This strength, combined with the current market dynamics and our consistent cost management, gives us confidence for the second quarter of 2026."

Following the stronger‑than‑expected first quarter, Kuehne+Nagel now expects recurring 2026 group EBIT in the range of CHF 1.25 to 1.40 billion.

Kuehe+Nagel said its Sea Logistics business generated net turnover of CHF 1.9 billion and EBIT of CHF 113 million. Volumes reached one million TEU at the end of March. The company said developments in the Middle East increased service intensity during the quarter, while prior‑year volumes had been "exceptionally strong" due to customer front‑loading linked to "Liberation Day".

Air Logistics posted net turnover of CHF 1.6 billion and EBIT of CHF 111 million. Air freight volumes reached 516,000 tonnes, showing slight growth from the previous year. The Middle East conflict led to a temporary tightening of air freight capacity, boosting demand for charter solutions.

Road Logistics reported net turnover of CHF 908 million and EBIT of CHF 25 million. Kuehe+Nagel said the business unit increased market share across all regions and helped maintain supply chains in the Middle East by establishing land‑bridge routes, including truck transport services from Saudi Arabia to the UAE.

Meanwhile, Contract Logistics generated net turnover of CHF 1.2 billion and EBIT of CHF 94 million, supported by a one‑off gain of CHF 35 million from the sale of a property in Germany. The company also opened new distribution centres in the Americas, the UAE and Singapore.