Kuehne & Nagel International Ag · SIX:KNIN
Kuehne & Nagel International — Kuehne + Nagel International — Q1 2022 Earnings Presentation
28 slides from Kuehne & Nagel International's earnings presentation, Apr 26, 2022
Slide 1: Analyst conference First quarter 2022 results
Analyst conference First quarter 2022 results Kuehne + Nagel International AG Schindellegi, Switzerland 26 April 2022 (CEST 14.00)
Slide 2: Overview first quarter 2022 results
01 Overview first quarter 2022 results 26 April 2022 | © Kuehne+Nagel | Analyst presentation 2
Slide 3: Highlights first quarter 2022 results
Highlights first quarter 2022 results Net turnover Gross profit 10,158 CHF million 2021: 6,032 2,942 CHF million 2021: 2,019 68% increase on the previous year; 53% organic 46% growth on the previous year; 34% growth excluding FX organic growth excluding FX Free cash flow1 EPS 1,037 CHF million 2021:
Slide 4: Strong first quarter 2022 for Kuehne+Nagel
Strong first quarter 2022 for Kuehne+Nagel Sea Air Road Contract Logistics Logistics Logistics Logistics EBIT of CHF 1,120 EBIT of CHF 621 million EBIT of CHF 425 million EBIT of CHF 30 million EBIT of CHF 44 million million, up by 160% High service intensity Volumes and yields Volume growth in all
Slide 5: Business unit update
02 Business unit update 26 April 2022 | © Kuehne+Nagel | Analyst presentation 5
Slide 6: Sea and Air Logistics volumes
Sea and Air Logistics volumes TEUs '000 TEUs excl APEX Tons '000 Tons excl APEX 1,214 1,193 1,182 1,140 1,075 1,100 1,096 1,142 1,048 1,121 1,108 1,089 1,003 648 584 555 493 574 460 462 468 433 392 372 354 315 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 2020 2020 2020 2020 2021 2021 2021 2021 2022 Sea Logistics vo
Slide 7: Sea Logistics
Sea Logistics Persistent port congestion Solid demand for Transpacific and North Atlantic capacity High service intensity 26 April 2022 | © Kuehne+Nagel | Analyst presentation 7
Slide 8: Sea Logistics
Sea Logistics 929 GP/TEU in CHF Exp/TEU in CHF 732 EBIT/TEU in CHF 678 593 524 440 455 408 320 311 321 (336) 299 (252) (263) (270) (277) (247) (219) (198) (217) 261 113 104 188 73 80 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 2020 2020 2020 2020 2021 2021 2021 2021 2022 Gross profit first quarter 2022 at CHF 974
Slide 9: Air Logistics
Air Logistics Volume and yield growth Strong Transpacific demand Positive contribution from acquisitions 26 April 2022 | © Kuehne+Nagel | Analyst presentation 9
Slide 10: Air Logistics
Air Logistics GP/100 kg in CHF Exp/100 kg in CHF EBIT/100 kg in CHF 153 142 124 Excl Apex 106 104 95 100 89 93 83 81 74 (71) (64) (59)* (63) (72) (68) (55) (55) (56) (61) Excl Apex * 40 38 44 41 35 30 19 * Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 2020 2020 2020 2020 2021 2021 2021 2021 2022 * adjusted for Quick o
Slide 11: Road Logistics
Road Logistics Volume growth in all networks High demand for digital solutions - “eTrucknow” - “Your Easy Customs Solution” 26 April 2022 | © Kuehne+Nagel | Analyst presentation 11
Slide 12: Road Logistics
Road Logistics EBIT/Net TO margin in % EBIT in CHF m 3.2 3.1 2.9 2.8 30 2.3 24 24 2.0 30 2.0 21 1.5 1.2 17 19 12 9 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 2020 2020 2020 2020 2021 2021 2021 2021 2022 Net turnover first quarter 2022 at CHF 982 million, 13% above prior year EBIT first quarter 2022 at CHF 30 mi
Slide 13: Contract Logistics
Contract Logistics Expansion of service offering in pharma and e-commerce Robust demand for automated solutions High capacity utilisation 26 April 2022 | © Kuehne+Nagel | Analyst presentation 13
Slide 14: Contract Logistics
Contract Logistics (excluding one-off impacts) EBIT in CHF m EBIT/Net TO margin in % 49 44 42 42 38 34 28 28 4.0 3.8 17 3.7 3.5 3.4 3.0 2.4 2.2 1.4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 2020 2020 2020 2020 2021 2021 2021 2021 2022 Net turnover first quarter 2022 at CHF 1,173 million, 5% above prior year EB
Slide 15: Key financial figures first quarter 2022
03 Key financial figures first quarter 2022 26 April 2022 | © Kuehne+Nagel | Analyst presentation 15
Slide 16: Income statement
Income statement 2021 2022 Variance YTD Variance in % CHF million Q1 Q1 2022/2021 2022/2021 Growth Acquisition Forex 1 Net turnover 6,032 10,158 4,126 68.4% 53.3% 18.1% (3.0%) Gross profit 2,019 2,942 923 45.7% 33.5% 14.7% (2.5%) Gross profit margin 33.5% 29.0% EBITDA 611 1,306 695 113.7% 85.9% 29.3
Slide 17: Balance sheet
Balance sheet December 31, March 31, December 31, March 31, CHF million 2021 2022 2021 2022 Assets Equity and Liabilities Equity attributable to the equity holders 3,204 3,832 Property, plant and equipment 766 743 of the parent company Right-of-use assets 1,409 1,489 Non-controlling interests 7 8 Go
Slide 18: Cash / free cash flow
Cash / free cash flow Q1 Q1 1,793 CHF million Variance In CHF million 2021 2022 FCF 2020 Cash and cash equivalents January 1, net 1,713 2,300 587 FCF 2021 Operational cash flow 618 1,312 694 FCF 2022 1,453 Changes in working capital (291) 41 332 1,037 999 Income taxes paid (93) (163) (70) Cash flow
Slide 19: Working capital
Working capital Mar 31, Mar 31, Better/(worse) CHF million 2021 2022 2022 vs. 2021 Trade receivables/contract assets 4,555 7,257 (2,702) Trade payables/accrued trade expenses (3,659) (5,210) 1,551 Net working capital 896 2,047 (1,151) KPIs: Working capital intensity 3.2% 4.6% (1.4%) DSO 55.1 52.6 2.
Slide 20: Return on capital employed (ROCE)
Return on capital employed (ROCE) ROCE ROCE excl. acquisitions/divestments 227% 226% 230% 133% 132% 128% 94% 125% 75% 104% 66% 65% 93% 62% 71% Calculation: last four quarters EBIT (rolling EBIT) divided by 62% the average of the last four quarters capital employed (rolling capital employed); capital
Slide 21: 2022: current perspectives
2022: current perspectives Market Kuehne+Nagel Global GDP growth consensus decreasing, Sustain agile, high service quality and currently at 3.5% (Bloomberg, April 2022) network reliability Inflationary pressures triggered by war in Ongoing investment in sustainable logistics Ukraine solutions Ineffi
Slide 22: Inspire. Empower. Deliver.
Inspire. Empower. Deliver. 26 April 2022 | © Kuehne+Nagel | Analyst presentation 22
Slide 23: Upcoming events
Upcoming events 03.05.2022 Annual General Meeting 05.05.2022 Ex-dividend date 06.05.2022 Dividend record date 09.05.2022 Dividend payment date 06. – 25.07.2022 Closed period 25.07.2022 Half-year 2022 results 06. - 25.10.2022 Closed period 25.10.2022 Nine-months 2022 results Nov 2022 Capital Markets
Slide 24: Quarter over Quarter 2022/2021
Quarter over Quarter 2022/2021 Change Change 2022 2021 CHF million in % in mCHF Q1 Q1 Q1 Q1 1. Sea Logistics A) Income Statement Turnover 5,363 2,878 +86.3 2,485 Net Turnover 4,857 2,393 +103.0 2,464 Gross Profit 974 482 +102.1 492 Opex (343) (268) (28.0) (75) EBITDA 631 214 +194.9 417 Depreciation
Slide 25: Quarter over Quarter 2022/2021
Quarter over Quarter 2022/2021 Change Change 2022 2021 CHF million in % in mCHF Q1 Q1 Q1 Q1 3. Road Logistics A) Income Statement Turnover 1,124 1,009 +11.4 115 Net Turnover 982 870 +12.9 112 Gross Profit 329 304 +8.2 25 Opex (284) (265) (7.2) (19) EBITDA 45 39 +15.4 6 Depreciation and Amortisation
Slide 26: Quarter over Quarter 2022/2021
Quarter over Quarter 2022/2021 Change Change 2022 2021 CHF million in % in mCHF Q1 Q1 Q1 Q1 5. Kuehne+Nagel Group A) Income Statement Turnover 11,090 6,933 +60.0 4,157 Customs duties and taxes (932) (901) (3.4) (31) Net Turnover 10,158 6,032 +68.4 4,126 Net expenses for services from 3rd parties (7,
Slide 27: Contact
Contact 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 26 April 2022 | © Kuehne+
Slide 28: Disclaimer
Disclaimer 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 forward-looking statements
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