Logo of Swiss logistics group Kuehne + Nagel is seen at its headquarters, in Schindellegi, Switzerland November 30, 2020. REUTERS
March 3 (Reuters) – Swiss logistics group Kuehne und Nagel reported a 17% drop in its recurring annual operating profit on Tuesday, citing a deterioration of industry conditions due to the challenging global macroeconomic environment.
The company’s recurring earnings before interest and taxes, which do not take expenses from its cost savings programme into account, fell to 1.38 billion Swiss francs ($1.77 billion) last year.
For 2026, it forecast recurring EBIT of between 1.2 billion and 1.4 billion francs, expecting to benefit from productivity gains through accelerated development of artificial intelligence solutions.
The savings programme targets a cost reduction of more than 200 million francs.
($1 = 0.7815 Swiss francs)
Reporting by Danny Callaghan, Marleen Kaesebier and Anastasiia Kozlova in Gdansk; editing by Milla Nissi-Prussak
