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High-tech cargo lifts K+N airfreight as DSV manages volume contraction

Semiconductor and cloud infrastructure shipments propelled Kuehne + Nagel to nearly 10% growth in third-quarter airfreight volumes, while rival DSV faced a 3% decline in both air and sea freight. K+N's Air Logistics division posted net turnover of CHF2.9bn, up 38%, with EBIT climbing 84% to CHF169m. The Swiss logistics operator identified semiconductors and cloud infrastructure as primary growth catalysts alongside general hard cargo, particularly from Southeast Asia exports. Gross profit per 100kg remained stable quarter-on-quarter as unit costs decreased. The division's conversion ratio expanded to 32%. High-tech demand benefits extended to K+N's Road Logistics and Contract Logistics segments. DSV attributed its volume decline partly to deliberate yield-management measures. Growth in Asia-Pacific and North America technology shipments was offset by weaker European performance and reduced e-commerce volumes.