Half Year 2023 Kuehne und Nagel International AG Earnings Call Transcript

Feb 14, 2024

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Jul 25, 2023 / 12:00PM GMT
Operator

Ladies and gentlemen, welcome to the Half Year 2023 Results Conference Call and Live Webcast. I am Sandra, the Chorus Call operator. (Operator Instructions) The conference is being recorded. (Operator Instructions)

At this time, it's my pleasure to hand over to Mr. Stefan Paul, CEO of Kuehne + Nagel. Please go ahead, sir.

Stefan Paul - Kuehne+Nagel International AG-CEO&Member of Management Board

Thank you very much, Sandra. Good afternoon, and welcome to the presentation of Kuehne + Nagel's First Half 2023 Financial Results. I'm Group CEO, Stefan Paul, and I'm joined on the call today by our group CFO, Markus Blanka-Graff.

Let's move into Page 2, half year results and the highlights. The financial results for the first half of 2023 were marked by accelerated cost management against the backdrop of declining demand for Logistics Services. As we all know, the declines are relative to an extraordinary comparison period of 2022. EBIT for the first half would have been the strongest in history,

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