Kuehne & Nagel International Ag · SIX:KNIN
Kuehne & Nagel International — Kuehne + Nagel International — Q1 2014 Earnings Presentation
26 slides from Kuehne & Nagel International's earnings presentation, Apr 14, 2014
Slide 1: Analyst Conference Call – Q1 Results 2014
Kuehne + Nagel International AG Analyst Conference Call – Q1 Results 2014 April 14, 2014 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 Q1 Results 2014 | Gerard van Kesteren Business Performance | Detlef Trefzger Financial Review | Gerard van Kesteren Outlook 2014 | Detlef Trefzger Q1 Results 2014 – Analyst Conference Call
Slide 4: Overview Q1 Results 2014 – Consolidated Income Statement
Overview Q1 Results 2014 – Consolidated Income Statement Variance Variance in % CHF million 2014 2013 2014/2013 2014/2013 Growth Forex Net Turnover 4,127 4,182 (55) (1.3%) 3.3% (4.6%) Gross Profit 1,532 1,537 (5) (0.3%) 2.8% (3.1%) Gross Profit margin 37.1% 36.8% EBITDA 235 219 16 7.3% 11.4% (4.1%)
Slide 5: EBIT per Business Unit Q1 2014/2013
EBIT per Business Unit Q1 2014/2013 Q1 EBIT in CHF million Business Units Better/ 2014 2013 (Worse) Seafreight 92 96 (4) incl. Insurance Brokers Airfreight 62 53 9 Overland 3 (9) 12 Contract Logistics 33 29 4 incl. Real Estate Kuehne + Nagel 190 169 21 Q1 Results 2014 – Analyst Conference Call p. 5
Slide 6: Agenda
Agenda Overview Q1 Results 2014 | Gerard van Kesteren Business Performance | Detlef Trefzger Financial Review | Gerard van Kesteren Outlook 2014 | Detlef Trefzger Q1 Results 2014 – Analyst Conference Call
Slide 7: Q1 Results 2014 – Kuehne + Nagel Group
Q1 Results 2014 – Kuehne + Nagel Group Net Turnover Highlights Q1 2014 4500 4182 4127 Decreased Net Turnover by 1.3% (excl. Forex + 3.3%) 4000 3951 Decreased Gross Profit by 0.3% (excl. Forex + 2.8%) CHF million Increased EBIT by 12.4% (excl. Forex + 17.1%) Working Capital Intensity 4.1% com
Slide 8: Performance Q1 2014 – Business Units
Performance Q1 2014 – Business Units Seafreight Airfreight Overland Contract Logistics Market increased by 3 to 4% Market increased by 2 to 3% Market increased Market increased by 2 to 3% between 1 to 2% Market rate volatility Rates stable Strong competitive continues environment Kuehn
Slide 9: Performance by Business Unit – Seafreight
Performance by Business Unit – Seafreight Income Statement Variance Q1 2014 Q1 2013 in CHF million 2014/2013 Growth Forex Turnover 2'154 2'236 (3.7%) 2.2% (5.9%) Gross Profit 319 327 (2.4%) 3.4% (5.8%) EBITDA 98 101 (3.0%) 2.0% (5.0%) EBIT 92 96 (4.2%) 1.0% (5.2%) EBIT in % of GP 28.8% 29.4% 1,000 4
Slide 10: Performance by Business Unit – Airfreight
Performance by Business Unit – Airfreight Income Statement Variance Q1 2014 Q1 2013 in CHF million 2014/2013 Growth Forex Turnover 1,002 1,011 (0.9%) 5.4% (6.3%) Gross Profit 219 219 - 5.5% (5.5%) EBITDA 68 59 15.3% 20.4% (5.1%) EBIT 62 53 17.0% 22.7% (5.7%) EBIT in % of GP 28.3% 24.2% 300 283 281 2
Slide 11: Performance by Business Unit – Overland
Performance by Business Unit – Overland Income Statement Variance Q1 2014 Q1 2013 in CHF million 2014/2013 Growth Forex Net Turnover 692 670 3.3% 6.9% (3.6%) Gross Profit 225 221 1.8% 3.6% (1.8%) EBITDA 12 2 > 100% > 100% - EBIT 3 (9) > 100% > 100% - EBITDA / Net Turnover Margin 1.7% 0.3% EBIT / Net
Slide 12: Performance by Business Unit – Contract Logistics
Performance by Business Unit – Contract Logistics Income Statement Variance Q1 2014 Q1 2013 in CHF million 2014/2013 Growth Forex Net Turnover 1,026 1,029 (0.3%) 1.7% (2.0%) Gross Profit 769 770 (0.1%) 1.6% (1.7%) EBITDA 57 57 - 1.8% (1.8%) EBIT 33 29 13.8% 13.8% - EBITDA / Net Turnover Margin 5.6%
Slide 13: Agenda
Agenda Overview Q1 Results 2014 | Gerard van Kesteren Business Performance | Detlef Trefzger Financial Review | Gerard van Kesteren Outlook 2014 | Detlef Trefzger Q1 Results 2014 – Analyst Conference Call
Slide 14: Financial Review – Group Key Data
Financial Review – Group Key Data CHF million Q1 2014 Q1 2013 Net Turnover 4,127 4,182 Gross Profit 1,532 1,537 EBITDA 235 219 Earnings for the period 150 134 EPS (basic) in CHF 1.23 1.11 Total Assets 6,522 6,499 Equity 2,657 2,580 Equity % o f To tal A ssets 40.7% 39.7% Cash & Cash Equivalents, net
Slide 15: Financial Review – Balance Sheet
Financial Review – Balance Sheet 31 March 31 December 31 March 31 December CHF million CHF million 2014 2013 2014 2013 Assets Liabilities and equity Total equity 2,657 2,558 Non-current assets 2,126 2,133 Non-current liabilities 591 563 Trade payables 1,271 1,362 Trade receivables 2,526 2,426 Accrue
Slide 16: Financial Review – Cash Flow
Financial Review – Cash Flow CHF million Q1 2014 Q1 2013 Better/(Worse) Operational cash flow 243 223 20 Changes in working capital (131) (69) (62) Income taxes paid (65) (50) (15) Cash flow from operating activities 47 104 (57) Cash flow from investing activities (35) (24) (11) Cash flow from finan
Slide 17: Financial Review – Working Capital
Financial Review – Working Capital Better/(Worse) CHF million March 2014 Dec 2013 March 2013 Mar 14 vs. Mar 13 Trade receivables & Work in progress 2,879 2,806 2,870 (9) Trade payables & Accrued trade expenses (2,061) (2,148) (2,108) (47) Net Working Capital 818 658 762 (56) KPI's: Working Capital I
Slide 18: Agenda
Agenda Overview Q1 Results 2014 | Gerard van Kesteren Business Performance | Detlef Trefzger Financial Review | Gerard van Kesteren Outlook 2014 | Detlef Trefzger Q1 Results 2014 – Analyst Conference Call
Slide 19: Volume Development and Outlook 2014
Volume Development and Outlook 2014 2013 - Actual Q1 2014 - Actual 2014 - Estimate Business Unit Market Kuehne + Nagel Market Kuehne + Nagel Market Kuehne + Nagel Seafreight + 2 to 3 % +3% + 3 to 4 % +7% + 3 to 4 % 1.5 x Market [TEU] Airfreight 0% +4% + 2 to 3 % +1% + 1 to 3 % 1.5 x Market [Ton] Ove
Slide 20: Appendix
KUEHNE+NAGEL Appendix
Slide 21: Upcoming Events
Upcoming Events May 6, 2014 Annual General Meeting May 13, 2014 Dividend Payment for 2013 July 14, 2014 Half-year Results 2014 September 17, 2014 Capital Markets Day, London October 13, 2014 9-months Results 2014 Q1 Results 2014 – Analyst Conference Call
Slide 22: Quarter over Quarter Q1 2014/2013
Quarter over Quarter Q1 2014/2013 2014 / 2013 2014 / 2013 2014 2013 Change in Change in % CHF million mCHF Q1 Q1 Q1 Q1 1. Seafreight A) Income Statement Turnover 2,154 2,236 (3.7) (82) Net expenses for services incl. duties & taxes (1,835) (1,909) +3.9 74 Gross Profit 319 327 (2.4) (8) Opex (221) (2
Slide 23: Quarter over Quarter Q1 2014/2013
Quarter over Quarter Q1 2014/2013 2014 / 2013 2014 / 2013 2014 2013 Change in Change in % CHF million mCHF Q1 Q1 Q1 Q1 3. Overland A) Income Statement Turnover 754 737 +2.3 17 Net expenses for services incl. duties & taxes (529) (516) (2.5) (13) Gross Profit 225 221 +1.8 4 Opex (213) (219) +2.7 6 EB
Slide 24: Quarter over Quarter Q1 2014/2013
Quarter over Quarter Q1 2014/2013 2014 / 2013 2014 / 2013 2014 2013 Change in Change in % CHF million mCHF Q1 Q1 Q1 Q1 5. Kuehne + Nagel Group A) Income Statement Turnover 5,029 5,094 (1.3) (65) Customs duties and taxes (902) (912) +1.1 10 Net Turnover 4,127 4,182 (1.3) (55) Net expenses for service
Slide 25: Development Main Exchange Rates vs. CHF
Development Main Exchange Rates vs. CHF Income Statement Full Year Q1 Variance Impact Net (average rates) 2013 2012 2014 2013 % Earnings Euro 1.2296 1.2062 1.2232 1.2260 (0.2%) US Dollar 0.9237 0.9327 0.8904 0.9285 (4.1%) (4.5%) British Pound 1.4492 1.4827 1.4756 1.4439 2.2% Q1 Results 2014 – Analys
Slide 26: 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 Tel: +41 (0)44 7869 561 D
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