Kuehne + Nagel International AG (KHNGY), a transport and logistics company, Wednesday reported earnings before tax of CHF 451 million for the third quarter, slightly lower than CHF 455 million in the same quarter a year ago, primarily due to increase in financial expenses. Net turnover for the quarter, however, grew more than 19 percent on increased demand.
Financial expenses for the quarter rose to CHF 12 million, from CHF 7 million.
Net earnings grew to CHF 324 million or CHF 2.73 per share from CHF 315 million or CHF 2.65 per share last year.
EBITDA, or earnings before interest, taxes, depreciation, and amortization rose to CHF 661 million from CHF 640 million a year ago.
Net turnover increased 19.3 percent to CHF 6.487 billion from CHF 5.438 billion in the previous year.
For the third quarter, net turnover grew 36 percent in Sea Logistics, 20 percent in Air Logistics, and 3 percent in Road Logistics. Net turnover for the Contract Logistics division also increased 2 percent.
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