In 2021, Kuehne+Nagel’s turnover amounted to CHF 36,699 million representing an increase of 54.1 per cent or CHF 12,887 million compared to the previous year. Organic business growth resulted in an increase of turnover of CHF 10,165 million (42.7 per cent) while acquisitions and divestments contributed CHF 2,841 million (11.9 per cent). The exchange rate fluctuation had a negative impact of CHF 119 million (0.5 per cent).
Volumes in Sea Logistics increased by 1.9 per cent (84,000 TEUs), and turnover per TEU increased by 71.4 per cent to CHF 3,395 per TEU (2020: CHF 1,981). In Air Logistics, the volume increased by 54.9 per cent (787,000 tons), and the freight rate increased by 27.4 per cent per 100 kg to CHF 517 (2020: CHF 406).
From a regional perspective, Europe, Middle East and Africa “EMEA” (32.9 per cent), the Americas (86.1 per cent) and Asia-Pacific (96.5 per cent) all reported an increased turnover in 2021.
Exchange rate fluctuations between 2020 and 2021, based on average yearly exchange rates, led to an increased valuation of the Euro by 0.9 per cent and a devaluation of the US Dollar as well as dependent currencies by 3.0 per cent against the Swiss Franc, resulting in a negative impact of CHF 119 million (0.5 per cent) on turnover.
In 2021, Kuehne+Nagel’s net turnover amounted to CHF 32,801 million representing an increase of 60.9 per cent or CHF 12,419 million compared to the previous year. Organic business growth resulted in an increase in net turnover of CHF 9,709 million (47.6 per cent) and acquisitions and divestments contributed CHF 2,839 million (13.9 per cent). The exchange rate fluctuation had a negative impact of CHF 129 million (0.6 per cent).
From a regional perspective, EMEA (34.8 per cent), the Americas (100.1 per cent) and Asia-Pacific (105.4 per cent) all reported an increase of net turnover in 2021.
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Gross profit amounted to CHF 9,896 million in 2021, which represents an increase of 32.4 per cent or CHF 2,421 million compared to the previous year. Organic business growth resulted in an increase in gross profit of CHF 2,052 million (27.5 per cent). Exchange rate fluctuation had a negative impact of CHF 8 million (0.1 per cent) and acquisitions and divestments contributed CHF 377 million (5.0 per cent) positively.
From a regional perspective, EMEA (10.4 per cent), the Americas (53.1 per cent) and Asia-Pacific (119.2 per cent) all reported a higher gross profit in 2021.
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The operational cash flow increased by CHF 1,784 million to CHF 3,688 million in 2021 (for further information, please refer to the cash flow statement in the consolidated financial statements 2021).
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In 2021, earnings before interest, tax, depreciation, amortisation and impairment of property, plant and equipment, goodwill and other intangible assets, increased by CHF 1,759 million or 91.6 per cent to CHF 3,679 million compared to the previous year’s CHF 1,920 million; EBITDA of organic business increased by CHF 1,223 million (63.7 per cent), acquisitions and divestments contributed CHF 537 million (28.0 per cent), and the exchange rate development had a negative impact of CHF 1 million (0.1 per cent).
EMEA generated the largest EBITDA contribution with CHF 1,562 million (42.5 per cent), followed by the Asia-Pacific with CHF 1,145 million (31.1 per cent) and Americas with CHF 972 million (26.4 per cent).
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In 2021, earnings before interest and tax (EBIT) increased by CHF 1,876 million to CHF 2,946 million (2020: CHF 1,070 million). The increase was mainly due to higher contribution from the organic business by CHF 1,275 million (119.2 per cent), whereas acquired and divested business had a positive impact of CHF 603 million (56.3 per cent), the exchange rate development had a negative impact of CHF 2 million (0.2 per cent). The EBIT margin to net turnover for the Group increased to 9.0 per cent compared to 5.2 per cent in 2020. EBIT in per cent of gross profit (conversion rate), an important KPI for the Group, increased from 14.3 per cent in 2020 to 29.8 per cent in 2021.
In 2021, the region EMEA contributed CHF 1,102 million (37.4 per cent) to the Group’s EBIT, followed by Asia-Pacific with CHF 1,039 million (35.3 per cent), and the Americas with CHF 805 million (27.3 per cent).
Earnings for the year 2021 increased by CHF 1,366 million to CHF 2,155 million compared to the previous year’s CHF 789 million, whereby the margin increased to 6.6 per cent (in per cent of net turnover) compared to the previous year’s 3.9 per cent.
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