Hi-tech cargo powers K+N growth as DSV rebuilds volumes 

Semiconductor and cloud infrastructure shipments helped drive almost 10% growth in Kuehne + Nagel’s third-quarter airfreight volumes, contrasting with falling tonnage at rival DSV, as it pruned accounts and managed Schenker integration effects.

K+N handled 619,000 tonnes in Q3, up 9.8% year on year, with growth accelerating from 2.8% in Q2. Air Logistics net turnover rose 38%, to CHF2.4bn ($2.9bn), while EBIT increased 84%, to CHF169m.

Its results presentation identified semiconductors and cloud infrastructure as key growth drivers alongside general hard cargo, and highlighted export strength from South-east Asia, excluding China.

Gross profit per 100kg was broadly stable, quarter on quarter, while unit costs edged lower. The division’s conversion ratio increased to 32.4%, from 22.8% a year earlier.

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