Business units

The main contributor to the Group’s result are the business units Sea and Air Logistics. 

Sea Logistics

Sea Logistics volumes decreased by 0.6 per cent to 4,310,000 TEUs. Besides the Full-Container-Load (FCL) business, specialised services for temperature-controlled cargo in reefer containers, pharma, e-commerce, and project business represent a significant share of the volume. In an uncertain and volatile market environment, the Group maintained its global leading position in Sea Logistics. Despite the challenges in supply chain reliability at the beginning of the year and the change into a situation of overcapacity at its end, the high service intensity for all shipments persisted. Managing towards a favourable service mix and operational efficiency resulted in stable margins. In 2024, the absolute amount of EBIT decreased by 16.2 per cent compared to the previous year, while the ratio of EBIT to gross profit (conversion rate) decreased only marginally to 41.1 per cent (2023: 43.8 per cent). 

The Group is dedicated to developing sustainability solutions for a low-carbon future. By committing to provide customers with reliable, high-standard low-carbon maritime fuels and aiming for a leading market position in emission transparency, the Group enhances its ambition for Sea Logistics profitability and continuous efficiency improvements.
 

Air Logistics

Despite challenging market conditions, Air Logistics maintained its number one market position in the global air freight market in 2024, while recording a higher volume by 5.5 per cent, totalling 2,092,000 tons. The EBIT to gross profit ratio (conversion rate) decreased to 27.3 per cent in 2024 (2023: 31.3 per cent). EBIT decreased by 13.9 per cent compared to the previous year. In 2024, the market was characterised by highly volatile demand for air transport services whereby the market has turned towards strong demand for export capacities out of China from e-commerce customers. 

To support customers transitioning to a low-carbon business model, the Group has expanded its cooperation with leading carriers to further promote and deploy the use of sustainable aviation fuel (SAF).
 

Road Logistics

Road Logistics experienced a decrease in net turnover by 1.7 per cent in 2024, in line with the weakened demand for land transport activities in Europe. Through continuous optimisation of the customer service portfolio, the key performance indicator EBITDA to net turnover margin declined to 4.7 per cent from previous year’s 5.4 per cent. EBIT decreased to CHF 98 million (2023: CHF 133 million).

With the focus on operational excellence and the expansion of services into global customs services as well as the expansion into the Asian markets, Road Logistics further strengthened its role in the success of the Group’s integrated logistics offering. 

Road Logistics is committed to decarbonising its own truck fleet to reduce Scope 1 emissions, aiming to achieve a 60 per cent share of low-emission vehicles by 2030. At present, investments are primarily directed towards Battery Electric Vehicles (BEVs). Investments in Fuel Cell Electric trucks (FCEVs) may gain focus as the technology matures. Biofuels complement the Group's decarbonisation efforts, serving as a bridging technology until electric vehicles are the norm.
 

Contract Logistics

In 2024, with more than 170 new logistics projects for customers implemented, Contract Logistics continuously increases its contribution to the Group’s results.

The focus on specialised end-to-end solutions for industries such as high-tech, consumer goods, pharmaceuticals, healthcare, and e-commerce fulfilment led to new customer gains.

The net turnover (net of currency impact) decreased by 0.8 per cent compared to 2023 but the business was able to gain market share in pharma and healthcare services and in e-commerce fulfilment. The EBITDA to net turnover margin was 18.9 per cent versus 17.2 per cent in 2023.

Contract Logistics has achieved 100 per cent renewable electricity for all its sites in 2024 and continues to increase the production of clean energy on-site with solar panels.