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11-12/2019 A trio ruled by different influences


Spring is in the air – which means that it is time for major corporations to present their annual figures for the last business year. In this issue we take a closer look at the figures of the major logistics corporations based in Switzerland. We know them well – Kuehne + Nagel, Ceva Logistics, Panalpina.


It remains to be seen for how much longer Panalpina will continue to exist in its present form; its board is continuing to play its cards close to its chest in the ongoing takeover offer from DSV. The job well done by the company’s executive management team, which presented a good result for 2018, is more high profile. Panalpina remains an attractive bride-to-be.


The same cannot be said of Ceva Logistics’ situation. The company has completed a rather turbulent year – with the transfer of its headquarters to Switzerland, stronger involvement from CMA CGM, and difficulties in Italy. Its restructuring triggered an aspirational mood; there is not yet much sign thereof in the annual figures for 2018, however. Losses have mounted and margins declined. The challenges remain substantial for Ceva Logistics this year.


Kuehne + Nagel also expects 2019 to be demanding; at least this firm is tackling it from a position of strength. The fifth year in succession in which it has set new records shows how consistently K + N has performed of late. So if its predictions for this year are rather modest then there is a degree of false modesty therein. The company is in a good position in all of its logistics segments, thanks also to the acquisitions it has made in recent years. Its broad portfolio will ensure a stable base, even if, against all expectations, global ­consumption were to decline.



Marco Wölfli




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