For the last time, Reinhard Lange, CEO of the Kuehne + Nagel Group, illustrated the performance of the business units. After a modest start in 2013, volume development gained momentum, he said. In April, Kuehne + Nagel increased volumes in seafreight by 7 per cent, in airfreight by 9 per cent.
Effective the Annual General Meeting, the Board of Directors of Kuehne + Nagel International AG accepted the request of Reinhard Lange to be released from his duties because of health reasons, as communicated on March 4, 2013. As Executive Chairman Karl Gernandt will take over CEO responsibility until further notice.

All proposals approved
The shareholders approved the annual report, the financial statements and the consolidated financial statements for 2012 and followed the Board of Directors’ recommendation to a dividend of CHF 3.50 per share. Payout is scheduled as on May 14, 2013.
 
The Annual General Meeting granted discharge to the Board of Directors and the Management Board for the 2012 business year.

Re-elections to the Board of Directors
Dr. Renato Fassbind, Juergen Fitschen, Karl Gernandt, Klaus-Michael Kuehne, Hans Lerch, Dr. Thomas Staehelin, Dr. Joerg Wolle and Bernd Wrede were re-elected to the Board of Directors for one-year terms.

Statutory Auditor
Ernst & Young AG, Zurich, was newly elected as the statutory and Group auditor for the business year 2013.

 
The next Annual General Meeting will be held on May 6, 2014.

The final contracts that will be worked out after signing the letter of intent are subject to the approval of the relevant corporate bodies and antitrust authorities. The decision is expected for the second half of 2013.

About VTG:
VTG Aktiengesellschaft is one of Europe’s leading railcar leasing and rail logistics companies. The company has the largest private railcar fleet in Europe. Globally, the fleet consists of some 54,100 railcars, with a focus on tank cars and state-of-the-art high capacity freight cars and flat cars. In addition to the hiring of wagons, the Group offers comprehensive multi-modal logistics services, mainly around rail transport, and global tank container transports.

Further information: www.vtg.de

Further information
VTG Corporate Communications  
Monika Gabler
Telephone: +49 (0) 40 23 54-1341
Email: monika.gabler@vtg.com

"In particular, aerospace has been a key industry for Alabama, now home to more than 400 aerospace companies, providing services in the fields of space, defense, maintenance, repair, manufacturing and related segments. Our new Mobile location enables the effective implementation of our ’Supply the Sky’ aerospace logistics portfolio in the Southeast," said Juergen Gentzke, Vice President South East region of Kuehne + Nagel North America.
 
With its global 'Supply the Sky' programme, Kuehne + Nagel offers a range of logistics services for the aerospace industry. The company develops and implements customised solutions for companies in the field of maintenance, repair, overhaul, ground handling and in-flight services.

Kuehne + Nagel Group

CHF million

1^st Quarter 2013

1^st Quarter 2012

Turnover

5,094

4,834

Gross profit

1,537

1,502

Operational result (EBITDA)

219

153*

EBT

171

103*

Net earnings

134

68*

*Including one-off item of CHF 65 million.

Seafreight
Kuehne + Nagel increased its container volume by 2.3 per cent. In the trades from Europe to Asia, Kuehne + Nagel suffered a volume decline and just grew moderately in the opposite direction. On most other routes, however, volume increases between 5 and 10 per cent were realised. With measures taken to streamline the cost structure, EBIT-to-gross profit margin (28.6 per cent / previous year: 28.3 per cent) and EBITDA will continuously improve.

Airfreight
In airfreight, Kuehne + Nagel succeeded in increasing its volumes by approximately 5 per cent, opposite to the market declining by 2 per cent. Apart from the favourable demand situation in the Asian export business, the company moderately increased its tonnage in outbound traffics from Europe. Efficient cost management and productivity improvements led to an increase of the EBIT-to-gross profit margin from 23.5 to 24.2 per cent. EBITDA improved by 9.3 per cent compared to the previous year.

Contract Logistics
The restructuring measures in the contract logistics business unit showed very positive effects. Currency adjusted, net turnover rose by 2.5 per cent. EBITDA increased by 27.3 per cent compared to the previous year’s period. The EBITDA margin was at 3.8 per cent (2012: 3.1 per cent).

Road & Rail Logistics
The difficult economic situation in Europe impacted the development of both, business and results. In addition, adverse weather conditions throughout the first quarter negatively impacted the volume development. While results in the full and part loads segment improved, volume declines in the groupage business affected results negatively. Overall, EBITDA decreased from CHF 14 million in the previous year’s period to CHF 2 million in the first quarter of 2013. The EBITDA margin was unsatisfactory at 0.3 per cent.

Karl Gernandt, Chairman of Kuehne + Nagel International AG: “Particularly in view of the recessive economic situation in the euro zone, which also poses challenges for our company, we can be quite satisfied with the results of the first quarter 2013. The measures introduced to increase efficiency and improve profitability are working effectively, underlined by the performance of the business units airfreight and contract logistics. We will continue to focus on margin and cost management and are therefore confident to achieve further improvements. Growth opportunities will arise mainly in regions outside of Western Europe. In the first quarter 2013, we have seen positive developments particularly in North America, Middle East, Eastern Europe and South Asia.“ 

Myanmar, an emerging market with increasing international trades with Europe, the USA as well as the rest of Asia, has a population of about 60 million. The country is rich in natural resources and is a key exporter of agricultural goods, textiles, wood products, construction materials, gems, metals, oil and natural gas. Major products imported include dairy products, machinery and equipment.

“With our innovative service portfolio, we are perfectly positioned to offer our customers in this dynamic market tailor-made, IT-based integrated logistics services,” said Andy Weber, President of Kuehne + Nagel (Asia Pacific) Management Pte. Ltd.

The report of the globally operating logistics group is accessible online and available for download at

http://www.kn-portal.com/about_us/investor_relations/annual_reports/

Kuehne + Nagel performs a multitude of tasks and is responsible for the handling and shipping of about 5’000 TEUs and some 65’000 products per year. The range of articles is huge and includes hotel supply, hotel equipment, food & beverages, provisions, stores and marine spare parts. To add complexity, commodities are expedited in three different temperature zones - frozen, chilled and dry.
 
Royal Caribbean operates cruises all over the world and therefore a dedicated team of Kuehne + Nagel experts - supported by colleagues in strategically located control towers - ensures the reliable supply of ships in Europe, Asia, Oceania, Northern and Latin America.
 
"We're proud to team with Royal Caribbean Cruises Ltd. and look forward to building a long-term relationship, delivering logistics solutions that add value to the supply chain,” said John Hextall, President of Kuehne + Nagel North America. “Our logistics experts understand the importance of reliable cruise line delivery and of managing essential freight arriving in a foreign port to meet a tight loading window.”

Holger Altvater, Global Head of Hotel Logistics at Kuehne + Nagel, adds: “We are very pleased to have been selected by Royal Caribbean to be their global logistics provider. With our worldwide network, special industry expertise and local market know-how in all countries involved we are perfectly positioned to establish a successful and long-lasting business relationship with the customer.”

The Khimji Ramdas Group, a Muscat based family owned company, established in the year 1870, runs 30 business divisions with interests ranging from agency representations of world’s leading brands to trading and manufacturing. Now owned by the fifth generation of Khimjis, it employs around 3000 people and is strongly linked to the development and expansion of the economic activity of Oman.

Werner Kleymann, Regional Manager Middle East, Turkey and Central Asia at Kuehne + Nagel: “This acquisition fits our objective to significantly expand our activities in Oman, one of the region’s key growth markets. At the same time, the establishment of a Kuehne + Nagel company in Oman underlines the exciting business opportunities in the Sultanate in light of the government’s economic development strategy as well as increasing investments from the public and private sector.”