Kuehne & Nagel International Ag · SIX:KNIN

Kuehne & Nagel International — Kuehne + Nagel International — H1 2010 Earnings Presentation

22 slides from Kuehne & Nagel International's earnings presentation, Jul 19, 2010

  1. Slide 1: Analyst Call – Half-Year 2010 Results

    Kuehne + Nagel International AG Analyst Call – Half-Year 2010 Results July 19, 2010 (CET 14.00) Schindellegi, Switzerland

  2. Slide 2: Agenda

    Agenda • Highlights Half-Year 2010 Gerard van Kesteren • Operating Review Half-Year 2010 Reinhard Lange • Financial Review Half-Year 2010 Gerard van Kesteren • Full-Year Outlook 2010 Reinhard Lange Half-Year 2010 Results July 19, 2010 Slide 2

  3. Slide 3: Highlights Half-Year 2010

    Highlights Half-Year 2010 Half-Year 2010 Results July 19, 2010 Slide 3

  4. Slide 4: Highlights Half-Year 2010

    Highlights Half-Year 2010 • Strong volume growth above market average in all business units • Continued increases in Seafreight and Airfreight rates impacting margin • Since March 2010 positive EBITA contribution in Road & Rail Logistics • Further reduction of idle space in Contract Logistics, profi

  5. Slide 5: Income Statement January to June

    Income Statement January to June Q2 2010/2009 CHF million 2009 2010 Variance Excl. Forex Variance Excl. Forex Invoiced turnover 8'498 9'849 15.9% 17.7% 24.7% 27.7% Gross profit 2'929 2'961 1.1% 3.7% 2.3% 6.1% Gross profit margin 34.5% 30.1% Total expenses (2'463) (2'486) EBITDA 466 475 1.9% 4.5% 4.7

  6. Slide 6: Operating Review Half-Year 2010

    Operating Review Half-Year 2010 Half-Year 2010 Results July 19, 2010 Slide 6

  7. Slide 7: Economic Development and Market Dynamics

    Economic Development and Market Dynamics Volume Development Half-Year 2010 31% 22 / 25% 20% 16 / 17% 13% 6% 5% 2% Seafreight Airfreight Road & Rail Contract Logistics TEU Tonnage Net revenue Net revenue Kuehne + Nagel Market (Kuehne + Nagel estimate) Half-Year 2010 Results July 19, 2010 Slide 7

  8. Slide 8: Segment Reporting by Business Unit January to June

    Segment Reporting by Business Unit January to June Invoiced Gross Variance Variance EBITDA Variance Turnover profit C H F m illio n 2009 2010 % 2009 2010 % 2009 2010 % Seafreight 3'731 4'305 15.4% 607 591 (2.6%) 204 204 - Airfreight 1'328 1'940 46.1% 324 359 10.8% 98 105 7.1% Road & Rail Logistics 1

  9. Slide 9: Performance of Business Unit Seafreight January to June

    Performance of Business Unit Seafreight January to June CHF million 2009 2010 Variance Excl. Forex Invoiced turnover 3'731 4'305 15.4% 16.0% Gross profit 607 591 (2.6%) (1.6%) EBITDA 204 204 - - EBIT 184 190 3.3% 4.3% EBITDA / Turnover margin 5.5% 4.7% EBIT / Turnover margin 4.9% 4.4% EBIT / GP marg

  10. Slide 10: Performance of Business Unit Airfreight January to June

    Performance of Business Unit Airfreight January to June CHF million 2009 2010 Variance Excl. Forex Invoiced turnover 1'328 1'940 46.1% 47.5% Gross profit 324 359 10.8% 12.7% EBITDA 98 105 7.1% 10.2% EBIT 89 97 9.0% 11.2% EBITDA / Turnover margin 7.4% 5.4% EBIT / Turnover margin 6.7% 5.0% EBIT / GP m

  11. Slide 11: Performance of Business Unit Road & Rail Logistics January to June

    Performance of Business Unit Road & Rail Logistics January to June CHF million 2009 2010 Variance Excl. Forex Invoiced turnover 1'225 1'370 11.8% 15.8% Net invoiced turnover 1'153 1'261 9.4% 13.3% Gross profit 409 423 3.4% 7.8% EBITDA 19 29 52.6% 63.2% EBITA (2) 11 - - EBIT (16) - - - EBITDA / Turno

  12. Slide 12: Performance of Business Unit Contract Logistics January to June

    Performance of Business Unit Contract Logistics January to June CHF million 2009 2010 Variance Excl. Forex Invoiced turnover 2'153 2'165 0.6% 3.7% Net invoiced turnover 2'062 2'094 1.6% 4.7% Gross profit 1'568 1'566 (0.1%) 2.9% EBITDA 100 92 (8.0%) (3.0%) EBITA 25 26 4.0% - EBIT 36 38 5.6% 13.9% EBI

  13. Slide 13: Update on Anti-trust Investigation

    Update on Anti-trust Investigation • On October 10, 2007 various Kuehne + Nagel organizations have been inspected. • Full cooperation with respective authorities. • Proceedings have been closed in Australia and Canada. • A provision for potential claims and fines from the US Department of Justice ha

  14. Slide 14: Financial Review Half-Year 2010

    Financial Review Half-Year 2010 Half-Year 2010 Results July 19, 2010 Slide 14

  15. Slide 15: Financial Overview January to June

    Financial Overview January to June CHF million 2009 2010 Gross Profit 2'929 2'961 EBITDA 466 475 Earnings for the period 258 281 Cash & Cash Equivalents 639 792 Per share CHF EPS (basic) 2,19 2,38 Equity % Total Assets 37,6 37,2 Operational Cash Flow 445 472 Capex 164 58 Half-Year 2010 Results July

  16. Slide 16: Balance Sheet

    Balance Sheet Jun. 30, Dec. 31, Jun. 30, Jun. 30, Dec. 31, Jun. 30, CHF million CHF million 2010 2009 2009 2010 2009 2009 Assets Liabilities and equity Property, plant and equipment 1'179 1'301 1'321 Share capital 120 120 120 Goodwill 644 681 701 Reserves and retained earnings 1'815 1'693 1'754 Othe

  17. Slide 17: Cash Flow Statement January to June

    Cash Flow Statement January to June CHF million 2010 2009 Variance Operational cash flow 472 445 27 Changes in working capital (254) 48 (302) Income taxes paid (70) (108) 38 Cash flow from operating activities 148 385 (237) Cash flow from investing activities (39) (425) 386 Cash flow from financing

  18. Slide 18: Development of Working Capital

    Development of Working Capital CHF million Dec 2008 Jun 2009 Dec 2009 Jun 2010 Trade receivables & Work in progress 2'483 2'212 2'300 2'702 Trade payables & Accrued trade expenses (1'893) (1'725) (1'844) (2'024) Net Working Capital 590 487 456 678 Turnover (annualised) 21'599 16'996 17'406 19'698 in

  19. Slide 19: Full-Year Outlook 2010

    Full-Year Outlook 2010 Half-Year 2010 Results July 19, 2010 Slide 19

  20. Slide 20: Outlook Full-Year 2010 – Volume Growth

    Outlook Full-Year 2010 – Volume Growth 23% 18% 15% 10% 8% 5% 4% 3% Seafreight Airfreight Road & Rail Contract Logistics TEU Tonnage Net revenue Net revenue Substantial improvement of net earnings over 2009 Kuehne + Nagel targets 2010 Market estimate 2010 Half-Year 2010 Results July 19, 2010 Slide 20

  21. Slide 21: Thank you for your attention.

    Thank you for your attention. Half-Year 2010 Results July 19, 2010 Slide 21

  22. Slide 22: 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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