Stefan Paul
CEO of Kühne Nagel
Replay available
Kuehne + Nagel International AG (LSE: 0QMW) Q3 2025 earnings conference call, held 2025-10-23. Replay captured from the company's public earnings webcast.

CEO of Kühne Nagel
CFO of Kühne Nagel
Analyst, Bernstein
Analyst, TD Cowen
Analyst, Bank of America
Analyst, Barclays
Analyst, JP Morgan
Analyst
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WEBVTT 00:00:00.031 -- 00:00:05.165 Ladies and gentlemen, welcome to the CUNY Nagel Q3 2025 Results Conference 00:00:05.165 -- 00:00:09.758 Call and Live Webcast. I am Valentina, the Chorus Call Operator. 00:00:09.758 -- 00:00:13.368 I would like to remind you that all participants will be in listen-only mode and the 00:00:13.368 -- 00:00:18.357 conference is being recorded. The presentation will be followed by a Q&A session. 00:00:18.357 -- 00:00:23.444 You can register for questions at any time by pressing STA and 1 on your telephone. 00:00:23.444 -- 00:00:26.868 For operator assistance, please press STA and 0. 00:00:26.868 -- 00:00:30.954 The conference must not be recorded for publication or broadcast. 00:00:30.954 -- 00:00:35.800 At this time, it's my pleasure to hand over to Stefan Powell, CEO of Kühne Nagel. 00:00:35.800 -- 00:00:38.161 Please go ahead. 00:00:38.438 -- 00:00:43.163 Thank you very much, Valentina, and good afternoon and welcome for the presentation of 00:00:43.163 -- 00:00:48.710 Kühne Nagel's 9 Months 2025 Financial Results. 00:00:48.710 -- 00:00:53.955 I'm CEO Stefan Paul, joined today, as always, by our CFO, Markus Blanka 00:00:53.955 -- 00:00:59.141 Graf. We go through the slides first and then, as Valentina said, 00:00:59.141 -- 00:01:01.424 we focus on the Q&A 00:01:01.424 -- 00:01:06.848 in about 15 to 20 minutes from now. Let's go into page number 00:01:06.848 -- 00:01:11.211 two, the nine-month results 2025. 00:01:12.155 -- 00:01:17.221 Overcapacity and softer demand in the third quarter of 2025 made the logistics 00:01:17.221 -- 00:01:22.728 market environment more challenging. Even so, we significantly expanded 00:01:22.728 -- 00:01:29.063 our global market share in air logistics and also in the SME segment in sea logistics. 00:01:29...