status report

Income Statement

Turnover

In 2016 Kuehne + Nagel’s turnover amounted to CHF 19,985 million representing a decrease of 1.5 per cent or CHF 298 million compared to the previous year. Organic business growth resulted in a decrease in turnover of CHF 358 million (1.7 per cent) and acquisitions contributed CHF 233 million or 1.1 per cent. The exchange rate fluctuation had a negative impact of CHF 173 million (0.9 per cent).

 

At a regional level, the Europe, Middle East, Central Asia and Africa “EMEA” (0.7 per cent), the Americas (3.8 per cent) and Asia-Pacific (0.5 per cent) experienced a reduced turnover.

 

Exchange rate fluctuations between 2015 and 2016, based on average yearly exchange rates, led to an increased valuation of the Euro and the US Dollar as well as dependent currencies of 1.4 and 3.0 per cent respectively and a decreased valuation of the British Pound of 9.0 per cent against the Swiss Franc.

 

Net turnover

In 2016 Kuehne + Nagel’s net turnover amounted to CHF 16,525 million representing a decrease of 1.2 per cent or CHF 206 million compared to the previous year. Organic business growth resulted in a decrease in net turnover of CHF 278 million (1.6 per cent) and acquisitions contributed CHF 233 million (1.4 per cent). The exchange rate fluctuation had a negative impact of CHF 161 million (1.0 per cent).

 

At a regional level, Asia-Pacific (1.7 per cent) region reported an increase in net turnover, whereas EMEA (1.0 per cent) and Americas (3.2 per cent) reported a decrease.

 

Gross profit

Gross profit, a better indicator of performance than net turnover in the logistics and forwarding industry, reached CHF 6,550 million in 2016, which represents an increase of 4.8 per cent or CHF 299 million compared to the previous year. Organic business growth resulted in an increase in gross profit of CHF 351 million (5.6 per cent) and exchange rate fluctuation had a negative impact of CHF 90 million (1.4 per cent). Acquisitions contributed CHF 38 million (0.6 per cent).

 

At a regional level, the EMEA (3.8 per cent), the Americas (8.1 per cent) and the Asia-Pacific (5.9 per cent) reported increases in gross profit. 

Regional turnover

Regional gross profit


Operational cash flow

The operational cash flow, the sum of the net income for the year plus/minus non-cash-related transactions, increased by CHF 17 million to CHF 1,062 million (for further information, please refer to the cash flow statement in the Consolidated Financial Statements 2016)

Operational expenses

Operational cash flow


EBITDA

Earnings before interest, tax, depreciation, amortisation and impairment of property, plant and equipment, goodwill and other intangible assets increased by CHF 69 million or 6.6 per cent compared to the previous year; EBITDA of organic business increased by CHF 67 million, business from acquisitions contributed CHF 10 million, and the negative exchange rate development accounted for a decrease of CHF 8 million. EMEA generated the largest EBITDA contribution with CHF 647 million (58.3 per cent) followed by the Americas with CHF 245 million (22.1 per cent) and Asia-Pacific with CHF 218 million (19.6 per cent). The EBITDA margin to net turnover increased to 6.7 per cent compared to 6.2 per cent in 2015.

 

EBIT ⁄ Earnings for the year

In 2016, earnings before interest and tax (EBIT) increased by CHF 68 million to CHF 918 million (2015: CHF 850 million). The increase was mainly due to higher profitability of the organic business by CHF 72 million, business from acquisitions contributed CHF 3 million whereas the exchange rate development impacted negatively by CHF 7 million. The EBIT margin to net turnover for the Group has increased to 5.6 per cent compared to 5.1 per cent in 2015.

 

The region EMEA contributed CHF 509 million (55.5 per cent) to the Group’s EBIT, followed by the Americas with CHF 207 million (22.5 per cent) and Asia-Pacific with CHF 202 million (22 per cent).

EBITDA

EBIT


The earnings for the year increased by CHF 41 million to CHF 720 million compared to the previous year’s CHF 679 million, whereby the margin increased to 4.4 per cent (in per cent of net turnover) compared to the previous year’s 4.1 per cent.

Earnings for the year