Kuehne & Nagel International Ag · SIX:KNIN
Kuehne & Nagel International — Kuehne + Nagel International — Q1 2025 Earnings Presentation
23 slides from Kuehne & Nagel International's earnings presentation, Apr 24, 2025
Slide 1: Analyst conference First quarter 2025 results
Analyst conference First quarter 2025 results Stefan Paul, CEO Markus Blanka-Graff, CFO Kuehne + Nagel International AG April 24, 2025
Slide 2: First quarter 2025 results: Market share up, profits up
First quarter 2025 results: Market share up, profits up Growth Profit Cash ▪ Net turnover of CHF 6.3 billion vs. ▪ EBIT of CHF 402 million vs. CHF 376 ▪ Free Cash Flow of CHF 173 million CHF 5.5 billion in 2024 (+15%; million in 2024 (+7%; +3% organic) vs. CHF -85 million in 2024 +11% organic) ▪ Sea
Slide 3: Sea Logistics: Return to year-over-year volume growth
Sea Logistics Return to year-over-year volume growth TEU ‘000 GP/TEU in CHF EBIT/TEU in CHF ▪ Headline volume growth +3% y/y ▪ Underlying volumes +6% y/y and higher than market growth 230 502 558 197 188* 182 203 ▪ Increased GP and EBIT per TEU y/y 1,115 491 181 1,097 1,096 469 464 1,002 1,034 ▪ Fir
Slide 4: Air Logistics: Better yields, better volumes year-over-year
Air Logistics Better yields, better volumes year-over-year Tons ‘000 GP/100 kg in CHF EBIT/100 kg in CHF ▪ Market share growth and improved conversion rate y/y ▪ Apex and perishables drove +5% 89 volume growth y/y 85 27 558 24* ▪ Growth despite material drag from 83 83 80 22 23 23 517 526 514 491 19
Slide 5: Road Logistics: Market headwinds persist
Road Logistics Market headwinds persist ▪ Net turnover growth +2% excluding In CHF million Q1 2025 Q1 2024 Variance currency effects (-1% organic) Net turnover 871 860 1% ▪ Yield pressure due to low demand in the network Gross profit 331 325 2% ▪ Weakness in selected industries and EBIT 19 30 (37%)
Slide 6: Contract Logistics: Results as expected
Contract Logistics Results as expected ▪ Net turnover, gross profit and EBIT In CHF million Q1 2025 Q1 2024 Variance growth +5% excluding currency Net turnover 1,178 1,139 3% effects ▪ Market share expanding in Gross profit 890 856 4% healthcare and e-commerce EBIT 57 55 4% ▪ Continued profitable gr
Slide 7: Roadmap 2026
Roadmap 2026 Kuehne+Nagel Digital Living Capitalise on Experience Ecosystem ESG market potential Consistent high- Cloud technology is Tangible solutions We are building quality service improving our data are helping our competitive is increasing custo- utilisation and time customers reduce advantage
Slide 8: Financial KPIs
Financial KPIs Analyst conference first quarter 2025 results | © Kuehne+Nagel Group | 8
Slide 9: Income Statement: Quarter over quarter comparison
Income Statement Quarter over quarter comparison CHF million 2025 2024 Variance YTD Variance in % Acquisition/ ▪ Organic net earnings growth of ~ 5% Q1 Q1 2025/2024 2025/2024 Growth disposal Forex 1 Net turnover 6,330 5,508 822 14.9% 11.4% 3.8% (0.3%) ▪ No significant currency effects Gross profit 2
Slide 10: Working Capital: Focus on DSO – DPO spread
Working Capital Focus on DSO – DPO spread March 31, December 31, December Better/(worse) CHF million 2025 2024 31, 2024 Mar 2025 vs. Dec 2024 Trade receivables/contract assets 4,871 4,686 4,410 (185) Trade payables/accrued trade expenses/contract liabilities (3,420) (3,367) (3,420) 53 Net working ca
Slide 11: Cash and Free Cash Flow: Improvement of Free Cash Flow
Cash and Free Cash Flow Improvement of Free Cash Flow YTD YTD CHF million CHF million Variance 2025 2024 Cash and cash equivalents January 1, net 1,142 2,008 (866) FCF 2024 Cash flow from operating activities 389 175 214 FCF 2025 Cash flow from investing activities (530) (259) (271) 618 Repayment of
Slide 12: Cash and Free Cash Flow: Cash conversion in Q1 stronger than historical average
Cash and Free Cash Flow Cash conversion in Q1 stronger than historical average 50% FCF Conversion* 16% 0% -50% Q1:10 Q1:11 Q1:12 Q1:13 Q1:14 Q1:15 Q1:16 Q1:17 Q1:18 Q1:19 Q1:20 Aggregate Key factors impacting Q1 2025 Free Cash Flow (FCF) conversion: ▪ 55% conversion vs. -32% last year as working cap
Slide 13: Outlook 2025: Guidance unchanged but with greater uncertainty
Outlook 2025 Guidance unchanged but with greater uncertainty Outlook Actual CHF million 2025 2024 EBIT (recurring) 1,500 to 1,750 1,671 Effective tax rate ~ 25% 24.9% Main assumptions ▪ Economic growth with greater uncertainty related to global development ▪ A reduction of supply chain disruptions w
Slide 14: Key takeaways
Key takeaways: 1. Volume growth above market in Q1 2025 2. Yield expansion in Sea and Air Logistics in Q1 3. Stage set for more market share gains 4. Heightened agility in times of global trade uncertainties 5. Focus on customer proximity Analyst conference first quarter 2025 results | © Kuehne+Nage
Slide 15: Inspire. Empower. Deliver.
Inspire. Empower. Deliver. © 2025 Kuehne+Nagel. All rights reserved.
Slide 16: Upcoming events
Upcoming events 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 conference first quarter 2025 results | © Kuehne+Nagel Group | 16
Slide 17: Balance Sheet
Balance Sheet March 31, December 31, March 31, December 31, CHF million 2025 2024 2025 2024 Assets Equity and Liabilities Equity attributable to the equity holders of 2,889 3,263 Property, plant and equipment 948 846 the parent company Right-of-use assets 2,354 2,041 Non-controlling interests 2 2 Go
Slide 18: ROCE development
ROCE development ROCE excl. acquisitions/divestments Excluding the extraordinary pandemic impact 121% Contract Logistics ROCE excl. forest, acquisitions and divestments 95% 86% 84% 82% 76% 66% 58% 26% 28% 28% 25% 24% Calculation: last four quarters EBIT (rolling EBIT) divided 16% 16% by the average
Slide 19: Quarter-over-quarter 2025/2024 Sea and Air Logistics
Quarter-over-quarter 2025/2024 Sea and Air Logistics Change Change in 2025 2024 CHF million in % mCHF Q1 Q1 Q1 Q1 Sea Logistics Income Statement Turnover 2,862 2,205 +29.8 657 Net Turnover 2,499 1,926 +29.8 573 Gross Profit 577 503 +14.7 74 Opex (346) (299) (15.7) (47) EBITDA 231 204 +13.2 27 Deprec
Slide 20: Quarter-over-quarter 2025/2024 Road and Contract Logistics
Quarter-over-quarter 2025/2024 Road and Contract Logistics Change Change in 2025 2024 CHF million in % mCHF Q1 Q1 Q1 Q1 Road Logistics Income Statement Turnover 1,007 969 +3.9 38 Net Turnover 871 860 +1.3 11 Gross Profit 331 325 +1.8 6 Opex (294) (281) (4.6) (13) EBITDA 37 44 (15.9) (7) Depreciation
Slide 21: Quarter-over-quarter 2025/2024 Kuehne+Nagel Group
Quarter-over-quarter 2025/2024 Kuehne+Nagel Group Change Change in 2025 2024 CHF million in % mCHF Q1 Q1 Q1 Q1 Kuehne+Nagel Group Income Statement Turnover 7,077 6,104 +15.9 973 Customs duties and taxes (747) (596) (25.3) (151) Net Turnover 6,330 5,508 +14.9 822 Net expenses for services from 3rd pa
Slide 22: 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
Slide 23: 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 first
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