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Kuehne + Nagel lifts bottom end of earnings guidance
(Sharecast News) - Swiss logistics company Kuehne und Nagel lifted the lower end of annual earnings guidance but noted that the war on Iran was hitting its sea freight business. The group forecast recurring operating profit 1.25 billion to 1.40 billion Swiss francs, up from the previously guided 1.2 billion to 1.4 billion francs.
K+N said its cost-reduction programme was ahead of plan in the first quarter and reiterated that it aimed to realise at least 200 million francs of gross savings by the end of the year.
First-quarter recurring operating profit fell 23% to SFR 308m in the first quarter.
K+N said its sea logistics business was negatively affected in the short term by the Middle East war.
"We are closely monitoring the situation, particularly with regard to rising energy prices and the possible impact on consumer demand," said chief executive Stefan Paul.
Volumes in its sea logistics unit fell 2% on an annualised basis and 6% compared with the final quarter of 2025, including a negative impact of 1.5% from the Middle East.
Reporting by Frank Prenesti for Sharecast.com
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