KUEHNE + NAGEL COMPANY LIMITED: Logistics Powerhouse in Vietnam Sees Sharp Declines in 2023

KUEHNE + NAGEL COMPANY LIMITED (CÔNG TY TNHH KUEHNE + NAGEL) is a foreign-invested enterprise operating in the logistics, shipping, and transportation support services sector in Vietnam. With its head office located at Vincom Center Building, No. 72 Le Thanh Ton Street, Ben Nghe Ward, District 1, Ho Chi Minh City, the company is registered under Business ID and Tax Code 0312658789. It is a wholly-owned subsidiary of KUEHNE+NAGEL INTERNATIONAL AG (Switzerland), holding a 99.9% stake, with a minor local shareholder in Vietnam.

Founded in February 2014, this logistics firm operates across three major hubs: Ho Chi Minh City, Hanoi, and Hai Phong. It is led by General Director Mr. Traemann Bjoern (German) and Finance Director Mr. Shaikh Ibrahim Abdul Rehman (Indian), overseeing a team of 310 employees.

Financial Snapshot: A Year of Contraction Across All Metrics

In 2023, KUEHNE + NAGEL COMPANY LIMITED experienced a significant downturn across every major financial indicator:

• Total Revenue fell by 53.8%, down to USD 198.25 million, a stark contrast from over USD 429 million in 2022.

• Net Profit declined even more sharply by 85.33%, dropping to USD 7 million from nearly USD 48 million the year before.

• Total Assets were reduced by over 52%, now at USD 42.27 million.

• Owner’s Equity plummeted to USD 18 million, a 70.83% year-on-year decline.

• Working Capital also fell significantly, reaching USD 14.1 million, a 75.58% drop.

These financial contractions reflect industry-wide headwinds affecting global supply chains in 2023, including inflationary pressures, shifting trade routes, and reduced shipping demand.

Industry and Risk Management Insight: Global Brand, Local Volatility

While KUEHNE + NAGEL COMPANY LIMITED benefits from the international reputation of its Swiss parent, the data reveals that its Vietnam operations are not immune to market volatility. The steep drop in both revenue and profit points to challenges in the logistics and freight forwarding segment, particularly in Southeast Asia where competition is intense and margins are narrowing.

Despite maintaining over 11 years of continuous operation in Vietnam, the company’s declining asset base and weakened equity position signal the need for cautious engagement. From a risk management perspective, any party seeking to do business with KUEHNE + NAGEL COMPANY LIMITED—whether as a subcontractor, service provider, or client—should request access to up-to-date Private Financial Data and conduct a comprehensive Litigation Search to identify possible operational or contractual risks.

As the global logistics industry continues to undergo transformation through digitization, trade shifts, and geopolitical uncertainty, firms like Kuehne + Nagel will need to demonstrate resilience not only in volume but also in sustainable margins and liquidity. Stakeholders are advised to monitor its financial trendlines closely.