Kuehne+Nagel operating profit cut 50% in 2023

Capt. John

Global logistics powerhouse Kuehne+Nagel suffered substantial revenue and profit erosion in 2023, including the final quarter, as excess air and ocean capacity combined with a post-COVID slow down in trade lowered rate levels, hurting bottom lines across the freight transportation sector.

Executives said they are seeing some stabilization in demand , but don’t expect a huge improvement this year. 

In conjunction with Friday’s quarterly results, Kuehne+Nagel announced an agreement to acquire City...


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