Kuehne+Nagel with remarkably strong performance in 2021

posted on 2nd March 2022 by Eddie Saunders
Kuehne+Nagel with remarkably strong performance in 2021

Kuehne+Nagel recorded a remarkably strong performance in financial year 2021.

The Group significantly increased all of its key figures relative to the previous year: net turnover climbed 61% to CHF 32.8 billion, EBIT soared 175% to CHF 2.9 billion and earnings for the year surged by 173% to CHF 2.2 billion.

The conversion rate, which reflects EBIT as a percentage of the Group’s gross profit, reached 30%, far surpassing the target of 16% by 2022. All our business units contributed to this success.

Dr. Detlef Trefzger, CEO of Kuehne + Nagel International AG, said: “In 2021, Kuehne+Nagel proved itself an important and reliable logistics partner in a challenging market environment.

“Our 78,000 colleagues worked relentlessly to support customers with a winning service offering.

“Once again, we focused on customers, systems and employees, we accelerated strategic initiatives and we far surpassed our ambitious financial targets.

“Thus far in the current year, the business outlook has been favourable. However, Russia’s acts of war highlight the unpredictable nature of geopolitics – the effects of which on economic development cannot yet be assessed.”

Kuehne+Nagel Group
CHF million
FY 2021 FY 2020 Δ Q4 2021 Q4 2020 Δ
Net turnover 32,801 20,382 61% 10,960 5,543 98%
Gross profit 9,896 7,475 32% 3,025 1,959 54%
EBITDA 3,679 1,920 92% 1,310 521 151%
EBIT 2,946 1,070 175% 1,121 280 300%
Earnings for the year 2,155 789 173% 813 214 280%
Free cash flow 1,793 1,453 23% 793 642 24%

Air Logistics

CHF million FY 2021 FY 2020 Δ Q4 2021 Q4 2020 Δ
Net turnover 10,810 5,194 108% 4,232 1,491 184%
Gross profit 2,556 1,331 92% 989 374 164%
EBIT 1,167 505 131% 522 155 237%

Limited global freight capacity in 2021 called for customised solutions from the Air Logistics business unit.

Demand remained strong for Kuehne+Nagel’s services in areas such as pharmaceuticals, essential goods and e-commerce.

This enabled the business unit to gain significant market share.

At 2.2 million tonnes, airfreight volume for the year increased 55% relative to the previous year.

The first-time consolidation in May 2021 of airfreight provider Apex Logistics accounted for around half of the growth.

Net turnover for Air Logistics totalled CHF 10.8 billion and EBIT CHF 1.2 billion.

The conversion rate reached 45.7%.

Air freight played a vital role in the global distribution of Covid-19 vaccines.

Kuehne+Nagel transported 1.2 billion doses to around 90 countries around the globe.

The Group’s robust vaccine logistics foundation is rooted in a global healthcare network comprised of over 240 sites.

Dividend

 

The Board of Directors proposes a dividend of CHF 10.00 per share to the Annual General Meeting to be held on May 3, 2022.

Dr. Joerg Wolle, Chairman of the Board of Directors of Kuehne + Nagel International AG: “In 2021, Kuehne+Nagel successfully capitalised on the strategic initiatives of the past few years.

“The Company is an agile, innovative and leading logistics provider shaping an increasingly vital sector of the global economy.

“Kuehne+Nagel is strategically well positioned for sustainable growth with promising potential for the future.

“We are delighted to propose a dividend of CHF 10 per share to the Annual General Meeting, enabling our shareholders to participate in the Company’s success.”