1111 GMT - Kuehne + Nagel has been executing on its strategy presented in March 2023, but financial results so far have missed targets and remain below expectations, Vontobel analyst Michael Foeth writes. "We await the presentation of the strategy update with new targets at the upcoming capital markets day on March 25," he says. Fourth-quarter gross profit rose 7% while EBIT was up 31% compared to the prior year. Nonetheless, EBIT came in 1% below consensus expectations and full-year free cash flow declined 34%, the analyst says. During 2024, Kuehne + Nagel streamlined its organization and set the stage for market-share gains going forward. The shift of the portfolio to improve the profitability mix will continue and the company points to a good start to 2025, Foeth adds. Shares fall 6.4%. (dominic.chopping@wsj.com)
(END) Dow Jones Newswires
March 04, 2025 06:11 ET (11:11 GMT)
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