In 2021, total assets and liabilities of the Group increased by CHF 4,799 million to CHF 14,650 million compared to 2020. The amount of cash and cash equivalents increased by CHF 608 million to CHF 2,305 million. For details of changes in the balance sheet and cash flow statement, please refer to the consolidated financial statements.
Trade receivables amounting to CHF 6,404 million represent the most significant asset of the Kuehne+Nagel Group. The days of trade receivables outstanding improved to 49.2 days as of December 2021 compared to the previous year’s 50.5 days.
As of December 31, 2021, the equity of the Group increased by CHF 798 million to CHF 3,211 million compared to CHF 2,413 million as of December 31, 2020, which represents an equity ratio of 21.9 per cent (2020: 24.5 per cent).
Developments of other key financial indicators on capital structure are shown in the following table:
|Key figures on capital structure||2021||2020||2019||2018||2017|
|1 Equity ratio (in per cent) *||21.9||24.5||23.6||29.5||31.2|
|2 Return on equity (in per cent)||69.5||32.8||33.6||32.4||32.1|
|3 Debt ratio (in per cent) *||78.1||75.5||76.4||70.5||68.8|
|4 Short-term ratio of indebtedness (in per cent)*||56.8||53.9||50.1||61.9||60.5|
|5 Intensity of long-term indebtedness (in per cent)*||21.3||21.6||26.2||8.6||8.3|
|6 Fixed assets coverage ratio (in per cent)||127.5||119.1||106.0||107.4||120.5|
|7 Working capital (in CHF million)||1,365||727||275||208||502|
|8 Receivables terms (in days)||49.2||50.5||52.5||54.2||53.9|
|9 Vendor terms (in days)||53.2||66.6||63.7||61.5||69.0|
|10 Intensity of capital expenditure (in per cent)*||33.9||38.7||47.0||35.5||32.8|
* Figures prior to 2019 have not been restated for the impact of IFRS 16 Leases.