Kuehne+Nagel recorded a remarkably strong performance in financial year 2021. The Group significantly increased all of its key figures relative to the previous year: net turnover climbed 61% to CHF 32.8 billion (USD $36 billion), EBIT soared 175% to CHF 2.9 billion (USD $3.2 billion) and earnings for the year surged by 173% to CHF 2.2 billion (USD $2.4 billion).
The conversion rate, which reflects EBIT as a percentage of the Group’s gross profit, reached 30%, far surpassing the target of 16% by 2022. All our business units contributed to this success.
Dr. Detlef Trefzger, CEO of Kuehne + Nagel International AG, said: “In 2021, Kuehne+Nagel proved itself an important and reliable logistics partner in a challenging market environment. 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.”
Air cargo
Limited global freight capacity in 2021 called for customised solutions from the Air Logistics business unit. Demand remained strong for Kuehne+Nagel’s services in areas such as pharmaceuticals, essential goods and e-commerce. This enabled the business unit to gain significant market share.
At 2.2 million tonnes, airfreight volume for the year increased 55% relative to the previous year. The first-time consolidation in May 2021 of airfreight provider Apex Logistics accounted for around half of the growth. Net turnover for Air Logistics totalled CHF 10.8 billion (USD $12 billion) and EBIT CHF 1.2 billion (USD $1.3 billion). The conversion rate reached 45.7%.
Air freight played a vital role in the global distribution of Covid-19 vaccines. Kuehne+Nagel transported 1.2 billion doses to around 90 countries around the globe. The Group’s robust vaccine logistics foundation is rooted in a global healthcare network comprised of over 240 sites.
