The Kuehne + Nagel group has significantly increased all of its key financial figures year-on-year.
For FY21 net turnover climbed 61 per cent to 32.8 billion CHF (approx. €32.1 billion), while EBIT soared 175 per cent to 2.9 billion CHF (approx. €2.8 billion) and earnings for the year surged by 173 per cent to 2.2 billion CHF (approx. €2.1 billion).
The conversion rate, which reflects EBIT as a percentage of the group’s gross profit, reached 30 per cent, far surpassing the target of 16 per cent by 2022.
All business units – Sea Logistics, Air Logistics, Road Logistics and Contract Logistics – contributed to this success.
“In 2021, Kuehne + Nagel proved itself an important and reliable logistics partner in a challenging market environment,” said Kuehne + Nagel International AG, Dr Detlef Trefzger.
“Our 78,000 colleagues worked relentlessly to support customers with a winning service offering.
“Once again, we focused on customers, systems and employees, we accelerated strategic initiatives and we far surpassed our ambitious financial targets. Thus far in the current year, the business outlook has been favourable. However, Russia’s acts of war highlight the unpredictable nature of geopolitics – the effects of which on economic development cannot yet be assessed.”
The Road Logistics business unit lifted its volume in 2021 by more than 13 per cent to a total of 24.4 million orders. In Europe, capacity utilisation was high and networks in North America were also well-booked.
The business unit’s net turnover in full-year 2021 amounted to 3.7 billion CHF (approx. €3.6 billion) and EBIT jumped 52 per cent year-on-year to 94 million CHF (approx. €92.1 million).
Meanwhile, the Contract Logistics business unit saw high capacity utilisation in 2021.
In particular, it rapidly expanded its pharmaceutical and e-commerce fulfilment offering.
The number of distribution centres now specialising in the healthcare sector and e-commerce fulfilment totals 100 and 175, respectively.
Following the divestment of a large share of activities in the UK, the business unit’s net turnover of 4.6 billion CHF (approx. €4.5 billion) in full-year 2021 was slightly down on the previous year. By contrast, EBIT nearly doubled to almost 156 million CHF (approx. €152.8 million).
Integrated logistics solutions (4PL) were once again in particularly high demand. At eight global sites with KN Control Towers, specialists develop and operate offerings for flexible and efficient supply chains.
In other news the business has announced a succession plan and committed to expanding in Africa.