(Reuters) -Swiss logistics group Kuehne und Nagel reported a 7% increase in its first-quarter operating profit on Thursday, helped by improved profitability in sea and air logistics amid a challenging global economic environment.
Its earnings before interest and taxes (EBIT) rose to 402 million Swiss francs ($485.04 million) in the first three months of 2025 from 376 million a year earlier.
Analysts expect global logistic companies to benefit from rising market uncertainty caused by sweeping U.S. tariffs, as supply chain issues and trade complexities prompt companies to charge higher fees for their services.
The company said it will not update the Group recurring EBIT guidance for the current year, in light of the elevated and fluctuating level of market uncertainty, including global tariff developments.
Last month the company said it expected recurring EBIT between 1.50 billion and 1.75 billion Swiss francs ($1.70-$1.98 billion) for this year.
“Kuehne+Nagel has had a strong start in the new financial year. We increased our market share, gained new customers, and also improved profitability,” Chief Executive Officer Stefan Paul said in a statement.
The group said its sea and air logistics business recorded 7% and 23% rises in first quarter EBIT.
($1 = 0.8288 Swiss francs)
(Reporting by Anastasiia Kozlova and Simon Ferdinand Eibach in Gdansk; Editing by Christian Schmollinger and Kim Coghill)
