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...
https://www.freightwaves.com/news/kuehnenagel-operating-profit-cut-50-in-2023