Kuehne+Nagel, one of the biggest names in logistics, had a mixed year in 2024. The company moved more airfreight than the year before, with volumes climbing by 5.5% to 2.1 million tons, thanks to strong demand for perishables and e-commerce shipments, especially out of China. Revenue from airfreight also went up by 4.1%, hitting Sfr7.8 billion. But despite these gains, the company faced some bumps—profits took a hit, dropping 13.9% to Sfr478 million. Lower airfreight rates, which fell by 1.1% to Sfr372 per 100 kg, were a big reason for the profit slide, even as the team worked hard to keep things moving smoothly.
The year wasn’t all smooth sailing for Kuehne+Nagel. They called 2024 a “challenging” time, with ups and downs in demand shaking things up. The boost in volumes came partly from their Apex Logistics business and steady growth in areas like aerospace and healthcare. Still, the lower rates squeezed their earnings, showing how tricky it can be to balance more shipments with making money. Looking ahead, the company is staying positive, pointing to a stronger finish in the last few months of 2024 as a sign that 2025 might bring better days for their airfreight operations.