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Kuehne + Nagel (KNIN) investor relations material
Kuehne + Nagel Q3 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Net turnover for January–September 2025 increased 2.7% year-over-year to CHF 18.5 billion, but Q3 net turnover declined 6.8% compared to Q3 2024, and EBIT fell 13% year-over-year due to yield pressure in logistics segments.
Market share expanded in air logistics and SME segment in sea logistics, despite overall market softness.
A cost reduction program targeting at least CHF 200 million in annualized savings was launched to address challenging market conditions.
Partners Group exercised its option to sell its 24.9% stake in Apex, with completion in Q4 2025, increasing ownership to 100% and expected to be EPS accretive.
Financial highlights
Group EPS declined 18% year-over-year to CHF 6.11, and net earnings for the nine months were CHF 725 million, down from CHF 885 million year-over-year.
Free cash flow conversion reached 105% in Q3, the first time above 100% since Q3 2022; year-to-date conversion at 66% vs. 33% last year.
Gross profit for January–September rose 1.1% year-over-year to CHF 6,531 million, with a margin of 35.3%, slightly down from 35.8% last year.
Cash and cash equivalents at period end were CHF 603 million, down from CHF 926 million a year earlier.
Outlook and guidance
Recurring EBIT guidance for 2025 set at greater than CHF 1.3 billion, reduced from the previous range of CHF 1.45–1.65 billion, reflecting adverse market conditions and a 5% currency headwind.
Q4 recurring result expected to be comparable to Q3; no peak season expected in air logistics for Q4, with stable yields anticipated.
Full run rate of cost savings expected by year-end 2026, fully reflected in Q1 2027.
Economic growth uncertainty and volatile trade/tariff policies are expected to persist.
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Q4 sales rose 4% with cost savings; 2026 outlook focuses on efficiency and cash flow. - TRITURBINE
Record Q3 revenue and EBITDA, 54% export sales growth, and ₹2.25 dividend declared. - QBY
Profitability, AI investment, and share buybacks drive growth and financial strength. - ACE
Higher margins and PAT in Q3 FY26 despite flat revenue and lower sales volumes. - GODREJAGRO
Q3 FY26 revenue reached ₹2,718.32 crore with 33.9% adjusted PAT growth and strong segment gains. - NAZARA
EBITDA and margins rose on IP focus, but regulatory changes led to major impairment losses. - HAPPYFORGE
Stable to growing financials, strong margins, and disciplined IPO fund use with no audit concerns. - RBA
Q3 revenue rose 16.5% in India; Inspira Global to acquire a controlling stake and infuse capital. - 6674
Profits and dividends revised upward on strong battery sales and improved margins. - BOROUGE
$1.1B net profit, 37% EBITDA margin, record sales, and major restructuring drive future growth.
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