Kuehne+Nagel reported a 24.8% decline in annual profit for 2025 as currency pressures and weaker margins squeezed results. Net earnings fell to CHF 925 million from CHF 1.23 billion in 2024, while EBIT declined 24.9% to CHF 1.24 billion. The logistics giant's equity ratio tumbled to 18.5% from 27.8% a year earlier, reflecting the challenging operating environment.

Exchange-rate movements reduced revenue by CHF 994 million, with the depreciation of the U.S. dollar and dependent currencies contributing significantly. Sea Logistics EBIT plummeted 36.8% to CHF 538 million, while Air Logistics EBIT slipped 10.3% to CHF 429 million. Gross profit still rose 1.5% to CHF 8.8 billion, supported by acquisitions adding CHF 356 million.

The Board of Directors will propose a reduced dividend of CHF 6 per share, down from CHF 8.25 in the prior year. Despite the challenges, Chairman Joerg Wolle called 2025 a "successful year" as the company completed several acquisitions, including increasing its stake in Apex to 100%. The report cited geopolitical instability and volatile freight rates as ongoing risks.