In 2025, the Group’s turnover increased by CHF 762 million or 2.8 per cent to CHF 28,118 million (2024: CHF 27,356 million). Organic business growth resulted in an increase in turnover of CHF 1,139 million (4.2 per cent) while acquisitions contributed CHF 751 million (2.7 per cent). The exchange rate fluctuation had a negative impact of CHF 1,128 million (4.1 per cent).
Volumes in Sea Logistics increased by 0.3 per cent (15,000 TEUs), and turnover per TEU decreased by 1.0 per cent to CHF 2,421 per TEU (2024: CHF 2,445). In Air Logistics, the volumes increased by 7.0 per cent (146,000 Tons), and the freight rates decreased by 3.8 per cent to CHF 358 per 100kg (2024: CHF 372).
Exchange rate fluctuations between 2024 and 2025, based on average yearly exchange rates, led to a devaluation of the Euro by 1.7 per cent and US dollar as well as dependent currencies by 5.3 per cent, against the Swiss Franc, resulting in a negative impact of CHF 1,128 million (4.1 per cent) on turnover.
In 2025, net turnover decreased by CHF 326 million or 1.3 per cent to CHF 24,476 million (2024: CHF 24,802 million). Organic business growth resulted in a decrease in net turnover of CHF 81 million (0.3 per cent) and acquisitions contributed to an increase of CHF 749 million (3.0 per cent). The exchange rate fluctuation had a negative impact of CHF 994 million (4.0 per cent).
In 2025, gross profit increased by CHF 130 million or 1.5 per cent to CHF 8,800 million (2024: CHF 8,670 million). Organic business growth resulted in an increase in gross profit of CHF 100 million (1.2 per cent). The exchange rate fluctuation had a negative impact of CHF 326 million (3.8 per cent) and acquisitions contributed to an increase of CHF 356 million (4.1 per cent).
CHF million
The operational cash flow decreased by CHF 332 million to CHF 2,166 million in 2025 (for further information, please refer to the cash flow statement in the consolidated financial statements).
CHF million
In 2025, earnings before interest, tax, depreciation, amortisation and impairment of property, plant and equipment, goodwill and other intangible assets (EBITDA), decreased by CHF 327 million or 13.2 per cent to CHF 2,151 million (2024: CHF 2,478 million). EBITDA of organic business decreased by CHF 340 million (13.7 per cent), acquisitions contributed positive CHF 100 million (4.0 per cent), and the exchange rate development had a negative impact of CHF 87 million (3.5 per cent).
CHF million
CHF million
In 2025, earnings before interest and tax (EBIT) decreased by CHF 412 million or 24.9 per cent to CHF 1,242 million (2024: CHF 1,654 million). The reduction was mainly due to a lower contribution from the organic business by CHF 396 million (23.9 per cent), whereas the acquired business had a positive impact of CHF 38 million (2.3 per cent). The exchange rate fluctuation had a negative impact of CHF 54 million (3.3 per cent). The EBIT margin to net turnover for the Group decreased to 5.1 per cent compared to 6.7 per cent in 2024. EBIT in per cent of gross profit (conversion rate), an important KPI for the Group, reduced from 19.1 per cent in 2024 to 14.1 per cent in 2025.
Earnings for the year 2025, decreased by CHF 305 million or 24.8 per cent to CHF 925 million (2024: CHF 1,230 million). In constant currencies and excluding acquisitions, the Group reported decreased earnings for the year by CHF 296 million or 24.0 per cent.
CHF million
In 2025, the Group increased the number of employees year-on-year by 5,192 or 6.5 per cent from 80,215 to 85,407 employees, which includes a net increase of 2,319 employees from business combinations. The number of full-time equivalents of employees reached 80,336 versus 75,241 in 2024, which is an increase of 5,095 or 6.8 per cent.