In terms of seafreight, EBIT expanded significantly and in overland, operating results increased substantially. The market-related volume decline in airfreight was largely offset by active cost management. Results of contract logistics decreased, however, because of ongoing restructuring and review of the project portfolio. Overall, the group achieved a good result.
Following significant increases in tonnage in the previous years, airfreight volumes dropped slightly (by 3.1%) to 409,000 tonnes in the first quarter of 2019 against the backdrop of a declining market. The business unit developed nearly in line with the overall airfreight market, which declined by 2-3%. Since the start of the year, the Group has integrated the business operations of Quick International Courier, a market leading provider of time-critical transportation and logistics solutions for the pharma and healthcare and aviation industries, which has contributed to a significant increase in gross margin. EBIT reached CHF 80m, which was almost consistent with the very high level of the previous year.