Global logistics provider, Kuehne + Nagel, closed the 2022 financial year with an exceptionally strong result.
Group net turnover increased by 20 per cent to €39.5 billion, EBIT by 28 per cent to €3.8 billion and net profit by 30 per cent to €2.8 billion.
The conversion rate, which describes the ratio of EBIT to gross profit of the group, was 33.9 per cent.
According to Kuehne + Nagel, all business units contributed significantly to the company’s success. However, due to the overall economic slowdown, the result in the fourth quarter of 2022 was weaker compared to the rest of the year.
“From today’s perspective, the macroeconomic environment will remain challenging in 2023 due to geopolitical developments and inflation,” Kuehne + Nagel said in a statement.
“However, we 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.”
Net turnover in the Road Logistics business unit amounted to €4.0 billion and EBIT to €146.2 million.
In the Contract Logistics sector, net turnover amounted to €4.9 billion and €187.3 million.
“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,” said Stefan Paul, CEO of Kuehne+Nagel International AG.
“Thanks to our dedicated employees, we were able to provide our customers around the world 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.”
In other news, after 12 years on the Board of Directors of Kuehne + Nagel International AG, Renato Fassbind will not stand for re-election at the Annual General Meeting on 9 May 2023.