WASHINGTON (dpa-AFX) - Swiss logistics firm Kuehne + Nagel International AG (KHNGY) reported Monday that its first-quarter earnings declined 23.2 percent to 139 million Swiss francs from last year's 181 million francs.
The company noted that business volumes declined sharply in the first quarter due to the coronavirus pandemic.
EBIT fell 24 percent from last year to 184 million francs, and operational profit or EBITDA declined 9.6 percent to 378 million francs.
Net turnover dropped 6.2 percent to 4.91 billion francs from 5.24 billion francs a year ago.
Looking ahead, Detlef Trefzger, CEO, said, 'Our company will face major challenges in the coming months, but is well positioned in view of its customer proximity, agility and digital offerings. A high level of liquidity characterises the company's solid financial strength.'
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