KNIN.SW - Kuehne + Nagel International AG
Chart Events
Performance Outlook
- Short Term2W - 6W
- Mid Term6W - 9M
- Long Term9M+
| Previous Close | 136.85 |
| Open | 137.25 |
| Bid | 137.00 x 0 |
| Ask | 0.00 x 0 |
| Day's Range | 137.15 - 141.50 |
| 52 Week Range | 119.25 - 168.00 |
| Volume | 334,845 |
| Avg. Volume | 440,436 |
| Market Cap | 16.999B |
| Beta (5Y Monthly) | 0.88 |
| PE Ratio (TTM) | 22.49 |
| EPS (TTM) | 6.31 |
| Earnings Date | Jul 21, 2020 |
| Forward Dividend & Yield | N/A (N/A) |
| Ex-Dividend Date | May 07, 2020 |
| 1y Target Est | 150.33 |
Fair Value
Related Research
- Benzinga
CEO Says Kuehne + Nagel Well Positioned For Major Challenges Ahead
Kuehne + Nagel International AG (OTCMKTS:KHNGF) on Monday pegged the first-quarter blow to earnings before interest and taxes (EBIT) from the coronavirus pandemic at CHF 46 million ($47.1 million) across its four business units.Kuehne + Nagel reported a total year-over-year earnings drop of 23.2% for the first quarter. Earnings for Q1 2020 were CHF 139 million ($142.4 million), compared to CHF 181 million ($185.4 million) in the same period last year. EBIT was CHF 184 million ($188.5 million) in Q1 2020, down 24% from CHF 242 million ($248 million) last year. Earnings before interest, taxes, depreciation and amortization (EBITDA) totaled CHF 378 million ($387.3 million), down 9.6% from CHF 418 million ($428.2 million).Although founded in Germany in 1890, Kuehne + Nagel now is headquartered in Switzerland and reports its earnings in Swiss francs.In Kuehne + Nagel's analyst presentation Monday, CEO Detlef Trefz called the coronavirus "an immense global challenge."Despite significantly weakened industrial production and trade volumes, Kuehne + Nagel "maintained its operational performance, closely managed a number of special businesses and won new customers. In the case of basic commodities and pharmaceuticals, transport volumes were maintained at a respectable level," Trefz said.The world's second-largest freight forwarder said in its individual business units, Sea Logistics was negatively impacted by fewer exports from Asia and Road Logistics experienced lower demand in Europe and North America. However, special charters partially compensated for a volume decline in Air Logistics and restructuring progressed well in Contract Logistics.Kuehne + Nagel maintained that it has stable cash flow and solid liquidity. The company said its free cash flow at the end of the quarter totaled CHF 156 million ($159.8 million), excluding a prepayment of CHF 72 million ($73.7 million) for withholding tax, which is reversible in Q2.XPO Logistics announced in March that it was acquiring the bulk of Kuehne + Nagel's contract logistics business in the U.K. Details of the transaction — and the boost to Kuehne + Nagel's coffers — were not disclosed."Our company will face major challenges in the coming months but is well positioned in view of its customer proximity, agility and digital offerings. A high level of liquidity characterizes the company's solid financial strength," Trefz said Monday.Kuehne + Nagel has more than 83,000 employees in over 100 countries.Sea LogisticsThe Sea Logistics unit suffered "a significant double-digit decline in volume demand to and from China," Kuehne + Nagel said. That contributed to the transport of 71,000 fewer twenty-foot equivalent units (TEUs), a 6.2% volume decrease year-over-year to 1.07 million TEUs in Q1. Q1 EBIT in the Sea Logistics unit dropped 29.5% year-over-year, from CHF 112 million ($114.7 million) to CHF 79 million ($81.2 million). "There is a huge impact due to COVID-19 in Sea Logistics, with an EBIT impact of CHF 29 million ($29.7 million)," Trefz said. The analyst presentation attributed CHF 4 million ($4.1 million) to foreign exchange.Air LogisticsThe company said the Air Logistics unit was particularly affected by the pandemic beginning in March, "when a large number of passenger flights were canceled on the supply side. Global airfreight capacity fell about 60% in just a few weeks. On the demand side, the lockdowns in China, Europe and finally America led to a sharp drop in consumption, resulting in lower airfreight volumes. In contrast, short-term charter solutions for pharma and time-critical transports were in greater demand." Air Logistics EBIT declined 11.3% year-over-year in Q1, from CHF 80 million ($81.9 million) to CHF 71 million ($72.7 million). Road LogisticsKuehne + Nagel said its Road Logistics business also took a downward turn in March. "Volumes in Europe, especially France, Great Britain and Italy, and North America, primarily the intermodal business, declined significantly. All sectors were affected, with the exception of e-commerce and pharma," the company said in its earnings release. Road Logistics EBIT dropped 29.2% year-over-year in Q1, from CHF 24 million ($24.6 million) to CHF 17 million ($17.4 million). Kuehne + Nagel said in a bright note that "performance in Asia remained encouraging," with increased demand for its eTrucknow digital solution.Contract LogisticsQ1 EBIT in the Contract Logistics division plunged 34.6% year-over-year, from CHF 26 million ($26.6 million) to CHF 17 million ($17.4 million). "The supply of automotive production and retail was particularly affected by the impacts of the coronavirus," Kuehne + Nagel said. "However, demand for basic goods, pharma and e-commerce services increased." The company said the coronavirus crisis "required a rapid and comprehensive adjustment of resources, with added support from further progress in restructuring Contract Logistics. Over the quarter, 90% of all Kuehne + Nagel distribution centers worldwide operated without interruption."Coronavirus responseKuehne + Nagel said during the COVID-19 pandemic, it has: * Activated business continuity plans at 1,400 locations in 108 countries. * Ensured its 45,000 office staff members could access internal systems remotely. * Imported about 300 million protection masks for its customers via airfreight from Asia. * Handled twice as many e-commerce shipments in Q1 as in Q4. * Recorded a 145% increase year-over-year in users of its digital customer platform."Our organization has shown a high degree of resilience in the face of this crisis," Trefz said, pointing to "a worldwide trade reduction — in some markets down 20, 40, 60%, especially in February and March. Business in China has started to recover since March and today I would say we are back to 90, 95% normal."Europe and the Americas started to become heavily impacted by the COVID-19 pandemic since the beginning of March and the duration and severity of the pandemic is totally uncertain. Also its economic impact is uncertain," he said.Trefz said he foresees the markets normalizing in the third and fourth quarters."We expect to exit the current coronavirus pandemic in a much stronger position than we have entered," he said.See more from Benzinga * Rail Industry Positioned For Resilience Despite Coronavirus Toll * What The Truck: Pay It Forward (With Video) * Tanker Craziness Continues As Product Carriers Hit Record High(C) 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
- Benzinga
XPO To Acquire Kuehne + Nagel's UK Contract Logistics Unit
Less than two months after announcing plans to divest potentially all of its operating segments, except for its less-than-truckload (LTL) offering, XPO Logistics, Inc. (NYSE: XPO) announced that an acquisition is in the works.In a March 9 press release, the company announced that it has entered into an agreement to buy the bulk of global transportation and logistics provider Kuehne + Nagel International AG's (OTC US: KHNGY) contract logistics segment in the U.K.The acquisition includes Kuehne + Nagel's operations that provide inbound and outbound distribution, reverse logistics management and inventory management. Revenue in these operations are derived from the beverage, technology and e-commerce sectors and totaled approximately GBP 500 million ($656.4 million) in 2019 ($1 equals 0.76 GBP).In its press release, XPO said that the deal will bolster its contract logistics offering in the U.K., adding 75 facilities and a "blue-chip customer base" to the segment. XPO plans to integrate Kuehne + Nagel's business onto its technology platform under its pan-European network.Terms of the transaction that is expected to close in the first half of 2020 were not disclosed.Equity research analyst Amit Mehrotra with Deutsche Bank noted that the announced acquisition was "a bit of a head-scratcher optically," but that the deal is likely very small in nature and affords XPO the opportunity to improve profitability on a business that has underperformed. "To be sure, we think this is a very small deal despite the big $500 million revenue contribution... sub-$100 million of total consideration is our best guess, which we estimate equates to a very low multiple of trailing EBITDA [earnings before interest, taxes, depreciation and amortization]," said Mehrotra.Mehrotra said that while his firm views Kuehne + Nagel as "good operators," he believes that this segment of its logistics business was "barely profitable," noting difficulty surrounding a large customer contract as a headwind. He continued that this may provide XPO the opportunity to "leverage its technology and fixed cost base to re-rate margins of the business [higher]."In a separate press release, Kuehne + Nagel stated that the transaction includes its "drinks logistics, food services and retail & technology businesses," with approximately 7,500 employees.Kuehne + Nagel has been exploring strategic alternatives for this business segment fo the last year."One year ago, we first announced the strategic review of our contract logistics business to improve profitability and focus on our core, scalable solutions. We have now reached a major milestone in this effort, having secured an agreement to sell significant non-core assets in the U.K.," stated Kuehne + Nagel CEO Dr. Detlef Trefzger.Kuehne + Nagel said that it was retaining its U.K. contract logistics operations serving aerospace, government and pharmaceutical customers.As previously announced, XPO's divestiture plan is to put nearly $13 billion of the company's $17 billion in revenue up for sale. When announced in January, all units except for LTL were being shopped.Shares of XPO are off more than 10%, nearly doubling the loss of broader equity markets which continue to move lower on coronavirus concerns.Image Sourced from PixabaySee more from Benzinga * Port Of New York And New Jersey Chief Tests Positive For Coronavirus * What Crude Price Collapse Means To Ocean Shipping * Soggy Week Ahead In Several Large Freight Markets(C) 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
- GuruFocus.com
Invesco European Growth Fund's Biggest 4th-Quarter Trades
Fund sells out of Bic, invests in offshore oil and transportation Continue reading...
- Benzinga
Kuehne + Nagel Acquires Overland Logistics Operations Of Dutch-Based Rotra
Freight forwarding major Kuehne + Nagel (K+N) has announced that it will acquire the overland and logistics activities of Dutch-based Rotra, a company with roughly 800 employees and annual revenue of over €100 million. K+N expects to leverage Rotra's network to expand its footprint across road networks in all major markets within Europe. "Rotra is a leading and well-rooted player in the Netherlands and in Belgium – two of the centres of gravity for logistics in Europe," said Stefan Paul, member of the management board of K+N, responsible for overland freight forwarding.
- Benzinga
AirBridge Cargo Completes Record Container Transport
AirBridgeCargo airlines (ABC) completed a record transport of 27 temperature-controlled containers aboard a single flight, delivering a vaccine product from Milan to Beijing on October 30 for logistics ...
- Benzinga
Maersk Outlines Fuel Choices For Shipping's Carbon-Free Future
Maersk said its goal of carbon-free shipping will be best reached with new types of marine fuels based on alcohol, renewable natural gas and ammonia. It is urging refiners and fuel producers to start research into how these fuels can be produced at scale to reduce the shipping industry's contribution to greenhouse gas emissions. The world's largest shipping fleet by size, Maersk is also the largest producer of greenhouse gases in container shipping.
- Benzinga
K+N: Forget Air Cargo Peak Season This Year
Speaking during a 22 October conference call with analysts after the Switzerland-based forwarder announced a downturn in its third quarter 2019 air freight performance, he said only growth in global gross domestic product (GDP) could provide the trade expansion momentum sufficient to persuade shippers to use air freight for more shipments. As reported in FreightWaves, K+N's ocean freight and land transport units both made third-quarter gains, helping to offset the downturn in air freight markets. The Swiss logistics giant's third-quarter earnings before interest and tax (EBIT) rose 16% year-on-year to CHF283 million ($287.2 million), while net turnover fell 1.1% to 5.23 billion Swiss francs in the period.
- Benzinga
Kuehne + Nagel Q3 Ocean Growth Offsets Air Decline
Kuehne + Nagel's ocean freight and land transport units both made third-quarter gains, helping to offset volatile air freight markets that hit earnings. The Swiss forwarder's third-quarter earnings before interest and tax (EBIT) rose 16% year-on-year to CHF283 million ($287.2 million), while net turnover fell 1.1% to 5.23 billion Swiss francs in the period. Net revenue of CHF15.8 billion over the period was 3.1% higher than a year earlier, while EBIT rose 6.6% to CHF794 million.
