Status Report

Income statement

 

Turnover

In 2022, Kuehne+Nagel’s turnover amounted to CHF 43,034 million representing an increase of 17.3 per cent or CHF 6,335 million compared to the previous year. Organic business growth resulted in an increase of turnover of CHF 6,252 million (17.1 per cent) while acquisitions and divestments contributed CHF 1,427 million (3.9 per cent). The exchange rate fluctuation had a negative impact of CHF 1,344 million (3.7 per cent).

Volumes in Sea Logistics decreased by 4.9 per cent (227,000 TEUs), and turnover per TEU increased by 38.4 per cent to CHF 4,699 per TEU (2021: CHF 3,395). In Air Logistics, the volume increased by 0.5 per cent (12,000 Tons), and the freight rate increased by 7.1 per cent per 100 kg to CHF 554 (2021: CHF 517).

From a regional perspective, Europe, Middle East and Africa “EMEA” (13.4 per cent), the Americas (28.4 per cent) and Asia-Pacific (7.2 per cent) all reported an increased turnover in 2022.

Exchange rate fluctuations between 2021 and 2022, based on average yearly exchange rates, led to a devaluation of the Euro by 7.0 per cent and an increased valuation of the US Dollar as well as dependent currencies by 4.1 per cent, against the Swiss Franc, resulting in a negative impact of CHF 1,344 million (3.7 per cent) on turnover.


Net turnover

In 2022, Kuehne+Nagel’s net turnover amounted to CHF 39,398 million representing an increase of 20.1 per cent or CHF 6,597 million compared to the previous year. Organic business growth resulted in an increase in net turnover of CHF 6,345 million (19.3 per cent) and acquisitions and divestments contributed CHF 1,427 million (4.4 per cent). The exchange rate fluctuation had a negative impact of CHF 1,175 million (3.6 per cent).

From a regional perspective, EMEA (17.5 per cent), the Americas (30.0 per cent) and Asia-Pacific (7.6 per cent) all reported an increase of net turnover in 2022.

Regional turnover

CHF million

Regional gross profit

CHF million

Gross profit

Gross profit amounted to CHF 11,109 million in 2022, which represents an increase of 12.3 per cent or CHF 1,213 million compared to the previous year. Organic business growth resulted in an increase in gross profit of CHF 1,224 million (12.4 per cent). Exchange rate fluctuation had a negative impact of CHF 373 million (3.8 per cent) and acquisitions and divestments contributed CHF 362 million (3.7 per cent) positively.

From a regional perspective, EMEA (4.3 per cent), the Americas (28.9 per cent) and Asia-Pacific (14.1 per cent) all reported a higher gross profit in 2022.

Operational expenses

CHF million

Operational cash flow

The operational cash flow increased by CHF 835 million to CHF 4,523 million in 2022 (for further information, please refer to the cash flow statement in the consolidated financial statements 2022).

Operational cash flow

CHF million

EBITDA

In 2022, earnings before interest, tax, depreciation, amortisation and impairment of property, plant and equipment, goodwill and other intangible assets, increased by CHF 853 million or 23.2 per cent to CHF 4,532 million compared to the previous year’s CHF 3,679 million; EBITDA of organic business increased by CHF 748 million (20.4 per cent), acquisitions and divestments contributed CHF 222 million (6.0 per cent), and the exchange rate development had a negative impact of CHF 117 million (3.2 per cent).

EMEA generated the largest EBITDA contribution with CHF 1,810 million (39.9 per cent), followed by the Asia-Pacific with CHF 1,363 million (30.1 per cent) and Americas with CHF 1,359 million (30.0 per cent).

 

EBITDA

CHF million

EBIT

CHF million

EBIT ⁄ Earnings for the year

In 2022, earnings before interest and tax (EBIT) increased by CHF 817 million to CHF 3,763 million (2021: CHF 2,946 million). The increase was mainly due to higher contribution from the organic business by CHF 690 million (23.4 per cent), whereas acquired and divested business had a positive impact of CHF 212 million (7.2 per cent), the exchange rate development had a negative impact of CHF 85 million (2.9 per cent). The EBIT margin to net turnover for the Group increased to 9.6 per cent compared to 9.0 per cent in 2021. EBIT in per cent of gross profit (conversion rate), an important KPI for the Group, increased from 29.8 per cent in 2021 to 33.9 per cent in 2022.

In 2022, the region EMEA contributed CHF 1,322 million (35.1 per cent) to the Group’s EBIT, followed by Asia-Pacific with CHF 1,253 million (33.3 per cent), and the Americas with CHF 1,188 million (31.6 per cent).

Earnings for the year 2022 increased by CHF 655 million to CHF 2,810 million compared to the previous year’s CHF 2,155 million, whereby the margin increased to 7.1 per cent (in per cent of net turnover) compared to the previous year’s 6.6 per cent.

Earnings for the year

CHF million