Kuehne & Nagel International Ag · SIX:KNIN
Kuehne & Nagel International — Kuehne + Nagel International — 9M 2013 Earnings Presentation
25 slides from Kuehne & Nagel International's earnings presentation, Oct 15, 2013
Slide 1: Analyst Conference Call – 9-months 2013 Results
Kuehne + Nagel International AG Analyst Conference Call – 9-months 2013 Results October 15, 2013 (CET 14.00) Schindellegi, Switzerland
Slide 2: Forward-looking statements
Forward-looking statements This presentation contains forward-looking statements. Such statements are subject to risks and uncertainties as various factors, many of which are beyond the control of Kuehne + Nagel International AG, may cause actual development and results to differ materially from the
Slide 3: Agenda
Agenda Overview 9-months 2013 Results Operating Review Financial Review Outlook Appendix Kuehne + Nagel Group – 9-months 2013 Results Slide 3
Slide 4: Overview 9-months Results – Kuehne + Nagel Group
Overview 9-months Results – Kuehne + Nagel Group Turnover Highlights 9-months 2013 17000 Increased turnover by 1.5% 16000 15705 15471 Increased Gross Profit by 2.8% and EBIT by 6.5% 15178 CHF million 15000 14598 Strict cost control implemented mainly in Sea-, Airfreight 14000 and back office f
Slide 5: Highlights per Business Unit
Highlights per Business Unit Seafreight Airfreight Road & Rail Contract Logistics Market increased by 1 - 2% Stagnating market Market decreased Market stagnating between 0 to -2% Market rate volatility Rates stable, with possible Strong competitive continues rate peaks in Q4 2013 envir
Slide 6: Income Statement
Income Statement 2012 2012 2012 YTD Q3 2013 2013 2013 YTD Q3 Var Var Var Var Var in % CHF million Q1 Q2 Q3* 2012 Q1 Q2 Q3 2013 Q1 Q2 Q3 2013 2013 Turnover 4'834 5'228 5'409 15'471 5'094 5'300 5'311 15'705 260 72 (98) 234 1.5% Gross profit 1'502 1'530 1'525 4'557 1'537 1'575 1'573 4'685 35 45 48 128
Slide 7: Seafreight – Performance of business unit
Seafreight – Performance of business unit YTD Income Statement in CHF million Variance 09/2012 09/2013 Turnover 6'813 6'845 0.5% Gross profit 962 967 0.5% EBITDA 311 307 (1.3%) EBIT 293 290 (1.0%) EBIT in % of GP 30.5% 30.0% 1'000 45.0 914 911 923 TEU '000 Highlights 9-months 2013 862 879 861 900 83
Slide 8: Seafreight – Volume per tradelane
Seafreight – Volume per tradelane TEU ´000 YTD Sep 2013: 2‘672 TEU ´000 YTD Sep 2012: 2‘612 Volume growth YTD Sep 2013: 2.3% North America - Europe 81 Intra-Europe Europe - Asia-Pacific - Middle East/Africa Middle East/Africa North America - North America 214 75 152 98 Asia-Pacific 268 Europe - 99 N
Slide 9: Airfreight – Performance of business unit
Airfreight – Performance of business unit YTD Income Statement in CHF million Variance 09/2012 09/2013 Turnover 2'994 3'079 2.8% Gross profit 623 662 6.3% EBITDA excl. one-off item 171 185 8.2% EBIT excl. one-off item 156 166 6.4% One-off item (65) - EBIT 91 166 82.4% EBIT in % of GP 25.0% 25.1% 274
Slide 10: Airfreight – Volume per tradelane
Airfreight – Volume per tradelane Tons ´000 YTD Sep 2013: 837 Tons ´000 YTD Sep 2012: 810 Volume growth YTD Sep 2013: 3.3% North America - 49 Europe Intra-Europe Europe - Asia-Pacific - Europe - Middle East/Africa Middle East/Africa 111 North America North America - North America 37 30 Asia-Pacific
Slide 11: Road & Rail – Performance of business unit
Road & Rail – Performance of business unit YTD Income Statement in CHF million Variance 09/2012 09/2013 Turnover 2'348 2'289 (2.5%) Net Turnover 2'147 2'094 (2.5%) Gross profit 669 678 1.3% EBITDA 28 22 (21.4%) EBITA 9 6 (33.3%) EBIT (10) (9) 10.0% EBITDA / Revenue margin 1.2% 1.0% EBIT / Revenue ma
Slide 12: Contract Logistics – Performance of business unit
Contract Logistics – Performance of business unit YTD Income Statement in CHF million Variance 09/2012* 09/2013 Turnover 3'231 3'402 5.3% Net Turnover 3'018 3'149 4.3% Gross profit 2'275 2'347 3.2% EBITDA 114 134 17.5% EBITA 63 82 30.2% EBIT 44 70 59.1% EBITDA / Revenue margin 3.5% 3.9% EBIT / Reven
Slide 13: Group Key Data
Group Key Data Financial Overview Financial targets YTD CHF million 09/2012 09/2013 Profitability Conversion rate (EBIT/GP) in Seafreight 30%+, in Airfreight 25%+ Turnover 15,471 15,705 Gross Profit 4,557 4,685 EBITDA 621* 710 CAPEX Estimate at max. CHF 175 million (2012: CHF 175 million) Net ea
Slide 14: Balance Sheet
Balance Sheet 31 December 30 September 31 December 30 September CHF million CHF million 2012 2013 2012 2013 Assets Liabilities and equity Property, plant and equipment 1'134 1'137 Equity attributable to the equity 2'396 2'406 holders of the parent company Goodwill 694 695 Intangibles 141 102 Non-con
Slide 15: Cash Flow
Cash Flow YTD Sep YTD Sep CHF million Better/(Worse) 2012 2013 Operational cash flow 621 722 101 Changes in working capital (164) (96) 68 Income taxes paid (138) (147) (9) CF from investing activities 2012 2013 Cash flow from operating activities 319 479 160 Acquisitions (5) - Cash flow from investi
Slide 16: Net Working Capital Development
Net Working Capital Development Variance CHF million Sep. 2012 Dec 2012 March 2013 June 2013 Sep. 2013 Sep. 13 vs. Sep 12 Trade receivables & Work in progress 2'982 2'809 2'870 2'867 2'886 96 Trade payables & Accrued trade expenses (2'172) (2'138) (2'108) (2'120) (2'070) (102) Net Working Capital 81
Slide 17: Outlook Volume Development 2013
Outlook Volume Development 2013 2013 Estimate Kuehne + Nagel Kuehne + Nagel Business unit 2012 YTD 09/2013 Kuehne + Nagel Market Seafreight +6% +2% +3% +2% [TEU] Airfreight +2% +3% + 3 to 4 % +0% [Ton] Road & Rail +7% -3 % - 1 to - 2 % - 1 to - 2 % [Net turnover] Contract Logistics +4% +4% + 2 to 4
Slide 18: Appendix
KUEHNE+NAGEL Appendix
Slide 19: Upcoming Events
Upcoming Events March 3, 2014 Full year 2013 results April 14, 2014 First quarter 2014 results May 6, 2014 Annual General Meeting May 13, 2014 Dividend payment for 2013 July 14, 2014 Half-year 2014 results October 13, 2014 9-months 2014 results Kuehne + Nagel Group – 9-months 2013 Results Slide 19
Slide 20: Development main exchange rates vs. CHF
Development main exchange rates vs. CHF Income Statement (average rates) EUR USD GBP Full-year 2011 1.2350 0.8908 1.4226 2012 1.2062 0.9327 1.4827 YTD 09/2013 2012 1.2059 0.9347 1.4805 2013 1.2295 0.9314 1.4454 Better/(Worse) 2.0% (0.4%) (2.4%) (0.9%) Net earnings impact Kuehne + Nagel Group – 9-mon
Slide 21: Quarter over Quarter YTD Sep 2013 - 2012
Quarter over Quarter YTD Sep 2013 - 2012 Variance in CHF million 2013 2012 2013/2012 Change in % 2013/2012 CHF million Q1 Q2 Q3 Total Q1 Q2 Q3 Total Q1 Q2 Q3 Total Q1 Q2 Q3 Total Seafreight Turnover 2'204 2'279 2'362 6'845 2'031 2'283 2'499 6'813 +8.5 (0.2) (5.5) +0.5 173 (4) (137) 32 Gross Profit 3
Slide 22: Quarter over Quarter YTD Sep 2013 - 2012
Quarter over Quarter YTD Sep 2013 - 2012 Variance in CHF million 2013 2012 2013/2012 Change in % 2013/2012 CHF million Q1 Q2 Q3 Total Q1 Q2 Q3 Total Q1 Q2 Q3 Total Q1 Q2 Q3 Total Road & Rail Logistics Turnover 737 790 762 2'289 744 814 790 2'348 (0.9) (2.9) (3.5) (2.5) (7) (24) (28) (59) Net Turnove
Slide 23: Quarter over Quarter YTD Sep 2013 - 2012
Quarter over Quarter YTD Sep 2013 - 2012 Variance in CHF million 2013 2012 2013/2012 Change in % 2013/2012 CHF million Q1 Q2 Q3 Total Q1 Q2 Q3 Total Q1 Q2 Q3 Total Q1 Q2 Q3 Total Real Estate Turnover - 1 0 1 - 1 - 1 Gross Profit - 1 0 1 - 1 - 1 Total Expenses 15 15 16 46 18 14 16 48 (16.7) +7.1 +0.0
Slide 24: Thank you for your attention.
Thank you for your attention.
Slide 25: Contact
Contact Gerard van Kesteren Markus Blanka-Graff Andrea Kobi CFO Director Corporate Finance + Investor Relations Investor Relations gerard.vankesteren@kuehne-nagel.com markus.blanka@kuehne-nagel.com andrea.kobi@kuehne-nagel.com Tel: +41 (0)44 7869 564 Tel: +41 (0)44 7869 644 +41 (0)44 7869 561 Discla
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