Kuehne + Nagel International (KHNGY), a Swiss transport and logistics company, reported Thursday lower earnings in its second quarter, despite higher revenues.
Looking ahead, for fiscal 2025, the company said underlying earnings assessments and expectations are unchanged.
Kuehne+Nagel now expects a recurring EBIT between 1.45 billion Swiss francs and 1.65 billion francs in light of currency headwinds alone.
The company's previous estimate for Group recurring EBIT guidance for the current year was 1.5 billion francs to 1.75 billion francs.
In its second quarter, earnings dropped 15 percent to 252 million francs from last year's 298 million francs.
EBITDA was 566 million francs, down 7 percent from 609 million francs a year ago.
Net turnover, however, grew 2 percent to 6.15 billion francs from 6.05 billion francs last year. The growth was 8% adjusted for foreign exchange effects.
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