Kuehne + Nagel QA Profit Rises, Proposes Dividend; Says Confident Of FY21 - Quick Facts

(RTTNews) - Swiss logistics firm Kuehne + Nagel Group (KHNGY) reported Wednesday that its fourth-quarter net earnings grew 6 percent to 214 million Swiss francs from last year's 202 million francs.

EBITDA increased 6.8 percent to 521 million francs from 488 million francs last year.

Net turnover grew 5.5 percent to 5.54 billion francs from prior year's 5.26 billion francs.

Further, the Board of Directors proposed a dividend of 4.50 francs per share to the Annual General Meeting to be held on May 4.

Looking ahead, Joerg Wolle, Chairman of the Board of Directors, said, "We were able to close the year 2020 with a record operating result - this shows the strength and resilience of our company. … With the successful completion of the restructuring of Contract Logistics, we are now ideally equipped for continued positive development. In view of Asia being the world's fastest growing economic region, the announcement of the acquisition of Apex Logistics in February 2021 is a significant milestone. The Board of Directors looks forward to the year 2021 with confidence."

Separately, the company announced that Tobias Staehelin will be proposed for election to the Board at the AGM on May 4. Staehelin is currently Chief Executive Officer of C. Haushahn GmbH & Co. KG in Stuttgart.