KHNGF - Kuehne + Nagel International AG (KHNGF) Q1 2024 Earnings Call Transcript
2024-04-23 11:35:26 ET
Kuehne + Nagel International AG (KHNGF)
Q1 2024 Earnings Conference Call
April 23, 2024 08:00 AM ET
Company Participants
Stefan Paul - CEO
Markus Blanka-Graff - CFO
Conference Call Participants
Alex Irving - Bernstein
Muneeba Kayani - Bank of America
Satish Sivakumar - Citi
Andy Chu - DB
Dan Togo Jensen - Carnegie Investment Bank
Marco Limite - Barclays
Gian-Marco Werro - ZKB
Michael Foeth - Vontobel
Sebastian Vogel - UBS
Lars Heindorff - Nordea
Uday Kanakupar - TD Cowen
Presentation
Operator
Ladies and gentlemen, welcome to the Q1 2024 Results Conference Call and Live Webcast. I am Sandra, the Chorus call operator. I would like to remind you that all participants have been listen-only mode and the conference is being recorded. The presentation will be followed by a Q&A session. [Operator Instructions]
At this time, it's my pleasure to hand over to Mr. Stefan Paul, CEO of Kuehne + Nagel. Please go ahead.
Stefan Paul
Thank you very much, Sandra. Good afternoon and welcome to the presentation of Kuehne + Nagel's first quarter 2024 financial results. I'm CEO Stefan Paul and I'm joined as always on the call today by our CFO, Markus Blanka-Graff.
Let's go into the first quarter earnings. The Kuehne + Nagel Group achieved a Q1 EBIT result in line with our expectations. This result was stable relative to the reported Q4 result of CHF375 million, which excluded a redundancy charge of CHF53 million. Our ongoing focus on yield management and cost control offset the typical seasonal downtick of cargo volumes from Q4 to Q1. We achieved modest volume growth in our two largest business units, building on the somewhat-improved volume trend of late 2023....
Kuehne + Nagel International AG (KHNGF) Q1 2024 Earnings Call Transcript