March 3 - Despite recording a 4.4 percent year-on-year drop in turnover for 2015 at CHF16.7 billion (USD16.72 billion), Kuehne + Nagel posted EBITDA of CHF1.04 billion (USD1.041 billion) - a 3.6 percent increase compared with 2014.

"We are proud that in a challenging environment we were able to further increase profitability and once again achieve a new record result," said K+N ceo Detlef Trefzger.

Despite recording a decline in its seafreight volumes for the first half of 2015, K+N witnessed profitable volume growth in the second half of the year, driven by increases in the North American and intra-Asian trade lanes.

In its airfreight business, K+N increased tonnage by 4.7 percent year-on-year to 1.25 million tonnes. Meanwhile, the company said that its overland business segment remained stable despite the challenging market situation in Europe.

Karl Gernandt, chairman of K+N's board of directors, said that its 2015 result confirmed that the company is able to substantially improve even in a volatile environment, claiming that its structures and processes are "flexible enough to respond quickly and effectively to new market situations".

He added that the market environment will remain challenging in 2016 but expects K+N's positive development to continue.