Asia exports and Red Sea conflict helped drive up air freight volumes for healthcare equipment for K+N in the second quarter of 2024. Air freight volumes at K+N increased 7.3 per cent to 517,000 tonnes in Q2 of 2024 compared to the same period in 2023. The net turnover in K+N’s air logistics division in Q4 was CHF1.8 billion, up 9 per cent YoY. However, despite the increase in volumes and generally robust rates in the market during the quarter, profit for the division was down slightly. Gross profit declined by 4 per cent and earnings before interest and taxes were down 17 per cent. “Volume growth developed in line with the addressable market and focused on profitable segments such as Healthcare and Semicon,” the K+N stated In total, the division handled more than 1 million tonnes of air freight in the first six months of 2024 or 5 per cent more year on year. In its half year analyst conference document, the forwarder stated the air logistics division had maintained market share in the hard cargo segment, while Asian exports had driven YoY and seasonal sequential growth..
Commentaires