Kuehne & Nagel International Ag · SIX:KNIN

Kuehne & Nagel International — Kuehne + Nagel International — FY2024 Earnings Presentation

27 slides from Kuehne & Nagel International's earnings presentation, Mar 4, 2025

  1. Slide 1: Analyst conference Full-Year 2024 results

    Analyst conference Full-Year 2024 results Stefan Paul, CEO Markus Blanka-Graff, CFO Kuehne + Nagel International AG March 4, 2025

  2. Slide 2: Full-year results: Upward trend continued throughout the year

    Full-year results: Upward trend continued throughout the year Growth Profit Cash ▪ Net turnover of CHF 24.8 billion vs. ▪ EBIT of CHF1,654 million vs. ▪ Free Cash Flow of CHF 643 million CHF 23.8 billion in 2023 (+4%) CHF 1,903 million in 2023 (-13%) ▪ Gross Profit of CHF 8.7 billion vs. ▪ Earnings

  3. Slide 3: Sea Logistics: Stage set for market share gains

    Sea Logistics Stage set for market share gains TEU ‘000 GP/TEU in CHF EBIT/TEU in CHF ▪ Underlying volume growth of 3% and stable market share ▪ Consistent GP per TEU 230 502 197 188* ▪ Continued effective cost 1,115 491 182 181 146* 1,106 1,097 1,096 428 469 464 127 management 1,002 ▪ Enhanced valu

  4. Slide 4: Air Logistics: Better yields, better volumes

    Air Logistics Better yields, better volumes Tons ‘000 GP/100 kg in CHF EBIT/100 kg in CHF ▪ Better yields in aerospace and pharma/healthcare ▪ Better volumes driven by Apex and perishables 89 558 533 517 526 80 80 83 83 26* 24* 27 ▪ Stable market share and improving 24 491 22 23 conversion rate thro

  5. Slide 5: Road Logistics: Persistent headwinds in key markets

    Road Logistics Persistent headwinds in key markets In CHF million Q4 2024 Q4 2023 Variance YTD 2024 YTD 2023 Variance ▪ Yield pressure due to low demand in the network Net turnover 852 834 2% 3,481 3,541 (2%) ▪ Weakness in selected industries and Gross profit 307 301 2% 1,295 1,288 1% geographies we

  6. Slide 6: Contract Logistics: Adding another year of record-high EBIT

    Contract Logistics Adding another year of record-high EBIT In CHF million Q4 2024 Q4 2023 Variance YTD 2024 YTD 2023 Variance ▪ Market share expanding in healthcare and e-commerce Net turnover 1,223 1,150 6% 4,731 4,770 (1%) ▪ Transformational implementation of Gross profit 900 859 5% 3,551 3,405 4%

  7. Slide 7: Financial KPIs

    Financial KPIs Analyst conference full-year 2024 results | © Kuehne+Nagel Group | 7

  8. Slide 8: Income Statement: Quarter over quarter comparison

    Income Statement Quarter over quarter comparison 2024 2024 2024 2024 2024 2023 2023 2023 2023 2023 CHF million Q1 Q2 Q3 Q4 YTD Q1 Q2 Q3 Q4 YTD Net turnover 5,508 6,046 6,487 6,761 24,802 6,748 5,973 5,438 5,690 23,849 Gross profit 2,076 2,197 2,187 2,210 8,670 2,394 2,255 2,079 2,059 8,787 Gross pro

  9. Slide 9: Working Capital: Focus on DSO – DPO spread

    Working Capital Focus on DSO – DPO spread Better/(worse) Dec 31, Sep 30, Dec 31, CHF million Dec 2024 vs. 2024 2024 2023 Dec 2023 Trade receivables/contract assets 4,686 4,608 4,006 (680) Trade payables/accrued trade expenses/contract liabilities (3,367) (3,383) (3,238) 129 Net working capital 1,319

  10. Slide 10: Cash and Free Cash Flow: Improvements throughout the quarters

    Cash and Free Cash Flow Improvements throughout the quarters FY FY CHF million CHF million 2024 2023 Cash and cash equivalents January 1, net 2,008 3,770 FCF 2023 970 Cash flow from operating activities 1,484 1,699 FCF 2024 730 Cash flow from investing activities (452) (243) 497 643 Total cash flow

  11. Slide 11: Cash and Free Cash Flow: Focus on cash conversion

    Cash and Free Cash Flow Focus on cash conversion Key factors impacting Q4 2024 Free Cash Flow conversion: ▪ CHF 94 million expansion of core Net Working Capital (NWC) wholly centered in Apex seasonality. ▪ NWC excluding Apex plateaued in Q4 ▪ Free Cash Flow conversion of 94% in Q4 back in normal ran

  12. Slide 12: Dividend proposal CHF 8.25 per share

    Dividend proposal CHF 8.25 per share 2020 2021 2022 2023 2024 Share price in CHF on 31.12. 200.80 294.40 215.20 289.80 207.80 Number of registered shares (in '000) 120,000 120,754 120,754 120,754 120,754 Market capitalisation in CHF million on 31.12. 24,096 35,550 25,986 34,995 25,093 Ordinary divid

  13. Slide 13: Sea Logistics – eTouch progress and final update

    Sea Logistics – eTouch progress and final update eTouch now fully integrated into day-to-day operations ▪ Progress in Customer quotation, booking and status as well as Documentation ▪ Run-rate staff-hour savings +7% vs. year-end 2023; staff-hour cost inflation +8% ▪ CR impact of 130 bps vs. 100 bps

  14. Slide 14: Sea Logistics – customer portfolio development

    Sea Logistics – customer portfolio development FY 2019 FY 2023 FY 2024 GP GP per TEU GP GP per TEU GP GP per TEU TEU '000 TEU '000 TEU '000 in CHF million in CHF in CHF million in CHF in CHF million in CHF 4,861 1,539 317 4,338 2,320 535 4,310 2,073 481 GP 0% GP 0% GP 0% 5% 4% 6% TEU TEU TEU 3% 2% D

  15. Slide 15: Air Logistics – eTouch target achieved

    Air Logistics – eTouch target achieved eTouch now fully integrated into day-to-day operations ▪ Progress centered in the area of transport documentation ▪ Annualized run-rate staff-hour savings of about 1.8m hours or +10% vs. 2023 ▪ CR impact of 370 bps vs. 300 bps six months ago; attained 2026 targ

  16. Slide 16: Air Logistics – customer portfolio development

    Air Logistics – customer portfolio development FY 2019 FY 2023 FY 2024 GP GP per 100kg GP GP per 100kg GP GP per 100kg Tons '000 Tons '000 Tons '000 in CHF million in CHF in CHF million in CHF in CHF million in CHF 1,643 1,317 80 1,983 1,774 89 2,092 1,751 84 GP 9% GP 10% GP 11% 18% Tons Tons Tons A

  17. Slide 17: Key takeaways

    Key takeaways: 1. Return to earnings growth in Q4 2. Stable dividend payment at high level 3. Stage set for market share gains 4. Streamlined organisation supports customer proximity 5. Bolt-on acquisitions expand service offering 6. More to come at the Capital Markets Day on March 25 Analyst confer

  18. Slide 18: Inspire. Empower. Deliver.

    Inspire. Empower. Deliver. © 2025 Kuehne+Nagel. All rights reserved.

  19. Slide 19: Upcoming events

    Upcoming events 25.03.2025 Capital Markets Day 03.04. -24.04.2025 Closed period 24.04.2025 Three-months 2025 results 07.05.2025 Annual General Meeting 03.07. - 24.07.2025 Closed period 24.07.2025 Half-year 2025 results 03.10. - 23.10.2025 Closed period 23.10.2025 Nine-months 2025 results Analyst con

  20. Slide 20: Balance Sheet

    Balance Sheet December 31, December 31, December 31, December 31, CHF million 2024 2023 2024 2023 Assets Equity and Liabilities Equity attributable to the equity holders 3,263 3,153 Property, plant and equipment 846 762 of the parent company Right-of-use assets 2,041 1,534 Non-controlling interests

  21. Slide 21: ROCE – Total Group

    ROCE – Total Group ROCE ROCE excl. acquisitions/divestments 121% Excluding the extraordinary pandemic impact 117% 95% 86% 82% 76% 90% 66% 80% 58% 75% 71% 52% 51% Calculation: last four quarters EBIT (rolling EBIT) divided by the average of the last four quarters capital employed (rolling capital emp

  22. Slide 22: ROCE – Contract Logistics

    ROCE – Contract Logistics Contract Logistics ROCE excl. forest, acquisitions and divestments 27% 28% 25% 24% 26% 25% 23% 16% 16% 12% Calculation: last four quarters EBIT (rolling EBIT) divided by the average of the last four quarters capital employed (rolling capital employed); capital employed: ass

  23. Slide 23: Quarter-over-quarter 2024/2023 Sea and Air Logistics

    Quarter-over-quarter 2024/2023 Sea and Air Logistics 2024 2023 Change in % Change in mCHF CHF million Q1 Q2 Q3 Q4 TOTAL Q1 Q2 Q3 Q4 TOTAL Q1 Q2 Q3 Q4 TOTAL Q1 Q2 Q3 Q4 TOTAL Sea Logistics Income Statement Turnover 2,205 2,434 2,991 2,910 10,540 3,025 2,548 2,271 2,090 9,934 (27.1) (4.5) +31.7 +39.2

  24. Slide 24: Quarter-over-quarter 2024/2023 Road and Contract Logistics

    Quarter-over-quarter 2024/2023 Road and Contract Logistics 2024 2023 Change in % Change in mCHF CHF million Q1 Q2 Q3 Q4 TOTAL Q1 Q2 Q3 Q4 TOTAL Q1 Q2 Q3 Q4 TOTAL Q1 Q2 Q3 Q4 TOTAL Road Logistics Income Statement Turnover 969 1,031 980 959 3,939 1,101 1,054 969 963 4,087 (12.0) (2.2) +1.1 (0.4) (3.6)

  25. Slide 25: Quarter-over-quarter 2024/2023 Kuehne+Nagel Group

    Quarter-over-quarter 2024/2023 Kuehne+Nagel Group 2024 2023 Change in % Change in mCHF CHF million Q1 Q2 Q3 Q4 TOTAL Q1 Q2 Q3 Q4 TOTAL Q1 Q2 Q3 Q4 TOTAL Q1 Q2 Q3 Q4 TOTAL Kuehne+Nagel Group Income Statement Turnover 6,104 6,684 7,152 7,416 27,356 7,527 6,700 6,114 6,308 26,649 (18.9) (0.2) +17.0 +17

  26. Slide 26: Disclaimer: Forward-looking statements

    Disclaimer Forward-looking statements Investing in the shares of Kuehne + Nagel International AG involves risks. Prospective investors are strongly requested to consult their investment advisors and tax advisors prior to investing in shares of Kuehne + Nagel International AG. This document contains

  27. Slide 27: Contacts

    Contacts Markus Blanka-Graff CFO markus.blanka@kuehne-nagel.com Tel: +41 (0)44 7869 644 Christopher Combé Head of Investor Relations christopher.combe@kuehne-nagel.com Tel: +41 (0)44 7869 693 Andrea Kobi Investor Relations andrea.kobi@kuehne-nagel.com Tel: +41 (0)44 7869 561 Analyst conference full-

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