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)
Copyright (c) 2025 Dow Jones & Company, Inc.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.