Kuehne und Nagel second quarter core earnings drop

Swiss freight forwarder Kuehne und Nagel International reported on Tuesday a 12.6% drop in second-quarter core earnings

A truck leaving the port

Schindellegi - Swiss freight forwarder Kuehne und Nagel International reported on Tuesday a 12.6% drop in second-quarter core earnings, citing the crisis triggered by the novel coronavirus pandemic, and currency fluctuations.

The group’s earnings before interest and tax (EBIT) came in at 235 million Swiss francs ($250 million), below the 269 million francs a year earlier, as sea freight, the largest part of the group’s business, fell 28.5% due to reduced shipping volumes. ($1 = 0.9392 Swiss francs)
 
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