top of page

K+N and DSV Experience Decline in Q2 2023: Market Challenges and Future Outlook

Leading airfreight forwarders, Kuehne+Nagel (K+N) and DSV, faced challenges in the second quarter of the year, with declining airfreight volumes, revenues, and profits. K+N reported a 15.5% year-on-year volume decline to 482,000 tonnes, with a 48% decrease in air net turnover to a 65% drop in earnings. The company attributed the volume decline to market trends but highlighted its cost reduction efforts, leading to a 9% decrease in cost per 100kg. DSV, in the third position, experienced a 21.3% drop in airfreight volumes to 316,456 tonnes, with air revenues slipping 51.4%and gross profit decreasing 29.2%. DSV cited reduced demand due to economic slowdown and inventory reductions, impacting export volumes from Asia Pacific. Both companies remain cautiously optimistic about the future, expecting a gradual improvement in global trade volumes in the coming quarters.


Recent Posts

See All

The ranking of forwarders of international airfreight cargo volume from Japan for April 2023 has been revealed: Nippon Express was No. 1 with 16,821 tons (-21.4% y/y), KWE No. 2 with 10,452 tons (-36

bottom of page