The company reported first half year results ending in June. Net revenues declined marginally by 0.9% to CHF8.15bn (market estimates: CHF8.14bn; our estimates CHF8.17bn). EBIT, however, increased 11% to CHF455m (market estimates: CHF450m; our estimates CHF446m). The EBIT margin increased from 5% to 5.6%. The operating performance was mainly driven by lower costs of goods sold which declined by 6.1%. The gross margin improved from 36.7% to 40%. Sea- and airfreight contributed 78.1% to total ne
19 Jul 2016
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Kuehne & Nagel International AG (0QMW:LON) | 0 0 0.5% | Mkt Cap: 19,620m
- Published:
19 Jul 2016 -
Author:
Heinz Steffen -
Pages:
2
The company reported first half year results ending in June. Net revenues declined marginally by 0.9% to CHF8.15bn (market estimates: CHF8.14bn; our estimates CHF8.17bn). EBIT, however, increased 11% to CHF455m (market estimates: CHF450m; our estimates CHF446m). The EBIT margin increased from 5% to 5.6%. The operating performance was mainly driven by lower costs of goods sold which declined by 6.1%. The gross margin improved from 36.7% to 40%. Sea- and airfreight contributed 78.1% to total ne