| CHF million | 2021 | 2020 |
Variance in per cent |
|---|---|---|---|
| Turnover | 36,699 | 23,812 | 54.1 |
| Net turnover | 32,801 | 20,382 | 60.9 |
| Gross profit | 9,896 | 7,475 | 32.4 |
| Gross profit in per cent of net turnover | 30.2 | 36.7 | |
| EBITDA | 3,679 | 1,920 | 91.6 |
|
EBIT In per cent of net turnover In per cent of gross profit |
2,946 9.0 29.8 |
1,070 5.2 14.3 |
175.3 |
| Earnings for the year | 2,155 | 789 | 173.1 |
| Earnings for the year (Kuehne+Nagel share) | 2,032 | 788 | 157.9 |
| Earnings per share basic (in CHF) | 16.92 | 6.59 | 156.8 |
| Operational cash flow | 3,688 | 1,904 | 93.7 |
| Capital expenditures for fixed assets | 197 | 177 | 11.3 |
| Total employees at year-end | 78,087 | 78,249 | –0.2 |
| Total full-time equivalents of employees at year-end | 73,516 | 72,021 | 2.1 |
Kuehne+Nagel’s net turnover increased by CHF 12,419 million or 60.9 per cent in 2021, and gross profit grew by CHF 2,421 million or 32.4 per cent compared to the previous year, whereof the inorganic growth was 13.9 per cent of net turnover and 5.0 per cent of gross profit.
In 2021, EBIT increased by CHF 1,876 million or 175.3 per cent. At constant exchange rates and excluding acquisitions and divestments, the increase would have been CHF 1,275 million or 119.2 per cent. Earnings for the year 2021 increased by CHF 1,366 million or 173.1 per cent compared to 2020. In constant currencies and excluding acquisitions and divestments the Group would have increased the earnings for the year by CHF 917 million or 116.2 per cent.
Capital expenditure in fixed assets increased by CHF 20 million or 11.3 per cent to CHF 197 million compared to the previous year. In 2021, the Kuehne+Nagel Group decreased the number of employees year-on-year by 162 or 0.2 per cent from 78,249 to 78,087 employees, which includes a net reduction of 3,621 employees from business combinations. The number of full time equivalents of employees reached 73,516 versus 72,021, which is an increase of 1,495 or 2.1 per cent.