In the third quarter of 2022, the Kuehne+Nagel Group continued to perform well in the market. From January to September 2022, net turnover increased by 40% to CHF 30.6 billion, EBIT by 71% to CHF 3.1 billion and net earnings by 73% to CHF 2.3 billion. Free cash flow amounted to CHF 2.6 billion. The Group's conversion rate amounted to 36.2%.
Stefan Paul, CEO of Kuehne+Nagel International AG: "Kuehne+Nagel posted its best-ever nine-months results. However, higher energy prices, broad-based inflation as well as geopolitical tensions drive additional volatility in supply chains. At the same time, the easing in sea and air freight markets translates to some relief for our customers. Our asset-light business model is primarily focused upon responding to our customers' worldwide needs in a flexible manner while ensuring a high quality of service."
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