Kuehne+Nagel closed the 2022 financial year with an exceptionally strong result. Group net turnover increased by 20% to CHF* 39.4 bn, EBIT by 28% to CHF* 3.8 bn and net profit by 30% to CHF* 2.8 bn. The conversion rate, which describes the ratio of EBIT to the Group’s gross profit, was 33.9%. All business units contributed significantly to the company’s success. Due to the overall economic slowdown, the result in the fourth quarter of 2022 was weaker compared to the rest of the year.
The company believes that the macroeconomic environment might remain challenging in 2023 due to geopolitical developments and inflation. However, they expect the positive growth and earnings trend that has continued for many years to continue this year, albeit excluding the exceptional business volumes and results in financial years 2021 and 2022, which were the result of a corona-related special economic situation.
“The 2022 financial year was exceptional for Kuehne+Nagel in many respects – a year of great financial success, but also with challenges for us and our customers. Thanks to our dedicated employees, we could provide our customers worldwide with high-quality logistics services. Now is the right time to launch our new strategic Roadmap 2026 and ensure Kuehne+Nagel’s sustainable future success with a dedicated focus on quality, customer satisfaction and employee motivation, ” says Stefan Paul, CEO of Kuehne+Nagel International AG.
In the financial year 2022, the net turnover of the Sea Logistics business unit amounted to CHF* 18.8 bn and EBIT to CHF* 2.0 bn. The conversion rate reached 58.1%. Container volume was 4.4 m TEU at the end of December 2022. The margin per container was at a historically high level in 2022. In the second half of 2022, complexity in the global ocean freight markets decreased.
Net turnover in the Air Logistics business unit was CHF* 11.7 bn and EBIT CHF* 1.4 bn in the 2022 financial year. The conversion rate reached 47.5%. Airfreight volume was 2.2 m tonnes at the end of December 2022. The margin per 100 kgs was at a very high level for the full year 2022. Demand for cargo capacity remained high on most trade routes. Following the turbulence in commercial aviation in the summer of 2022, the supply of capacity remained volatile in the second half of the year.
In the 2022 financial year, the net turnover of the Road Logistics business unit amounted to CHF* 4.0 bn and EBIT to CHF* 146 m. The networks were well-utilised in all regions. The earnings situation of Road Logistics developed very positively over the course of 2022.
The net turnover in the Contract Logistics business unit for 2022 amounted to CHF* 4.9 bn and EBIT to CHF* 187 m. As of December 31, 2022, the business unit managed a total of 10.3 m sqm of warehouse and logistics space. The Contract Logistics premises were heavily utilised worldwide. In 2022 alone, the unit implemented more than 150 new logistics projects – often large-scale warehouses with state-of-the-art technology and robotics.
The Board of Directors proposes a dividend of CHF* 14.00 per share to the Annual General Meeting to be held on May 9, 2023. This corresponds to an increase of 40% compared to the previous year.
The Kuehne+Nagel Group has presented its new strategic Roadmap for 2026. The plan is designed for the next four years and represents an organic further development of Roadmap 2022.
The goal of Roadmap 2026 is to significantly strengthen Kuehne+Nagel’s earnings power. The proven asset-light model might be retained. The Roadmap 2026 contains defined plans in terms of the focus areas in all four business units and aforementioned the targeted results. At the Group level, Kuehne+Nagel aims to achieve a conversion rate of 25% to 30% by 2026.
*1 CHF= € 1.01