Kuehne+Nagel Group generated a net turnover of CHF 24.5 billion in 2025. Recurring EBIT reached CHF 1.4 billion. Earnings amounted to CHF 925 million, a decrease of 25% compared to the previous year. The group maintained its global number one position in sea and air freight volumes. Free cash flow surged by 48% to CHF 917 million.

The company implemented a cost reduction program targeting over CHF 200 million in savings during the fourth quarter. The recurring conversion rate stood at 16%.

CEO Stefan Paul stated that the company gained significant market share in Air Logistics as a logistics partner to global cloud and server infrastructure providers. AI deployment built on established networks will be a key strategic pillar, with material productivity gains expected over the next 18 months.

Sea Logistics recorded a net turnover of CHF 8.8 billion with recurring EBIT of CHF 585 million. Container volumes reached 4.3 million TEU, confirming the global number one position. For the first time on a full-year basis, small and medium-sized customers accounted for half of total volumes.

Air Logistics posted a net turnover of CHF 7.3 billion with recurring EBIT of CHF 454 million. Air freight tonnage grew by 7% to 2.2 million tonnes. This business unit strengthened its position through outsized growth in services for cloud and data center customers in the U.S. The company also acquired Eastway Global Forwarding Ltd. to expand its time-critical aircraft-on-ground services.

Road Logistics recorded a net turnover of CHF 3.5 billion...