Kuehne + Nagel International : Analyst three-months results 2023 Annual Report

Analyst conference

First quarter 2023 results

Stefan Paul, CEO

Markus Blanka-Graff, CFO

Kuehne + Nagel International AG

April 25, 2023

First quarter results: Highlights

Efficiency increase alongside volume reduction

Growth	Profit	Cash
 Net turnover of CHF 6.7 billion vs.	 EBIT of CHF 612 million vs. CHF	 Free Cash Flow of CHF 415 million
CHF 10.2 billion in 2022	1,120 million in 2022	vs. CHF 1,037 million in 2022
34% decrease	45% decrease	60% decrease
 Gross Profit of CHF 2.4 billion vs.	 Earnings per share of CHF 3.83	 Cash and cash equivalents of CHF
CHF 2.9 billion in 2022	vs. CHF 6.53 per share in 2022	3,960 million
19% decrease	41% decrease
	 Conversion Rate of 26% vs. 38%
	in 2022

Analyst conference first quarter 2023 results | © Kuehne+Nagel Group | 2

Sea Logistics

Yield management boosts Q1 2023

TEU '000	GP/TEU in CHF	EBIT/TEU in CHF

 Focus on continued long-term shift

toward higher-yielding volumes

1,048

1,114 1,135 1,089

987

929

869

764

695 615

2014-2019 avg. GP/TEU: CHF 336

593

527

443

349

285

2014 - 2019 avg. EBIT/TEU: CHF 102

	Increased market share with
	market leadership in Transpacific
	for the first time
	Inflationary pressure partially
	compensated by cost reductions

Q1	Q2	Q3	Q4	Q1	Q1	Q2	Q3	Q4	Q1
2022	2022	2022	2022	2023	2022	2022	2022	2022	2023

Q1	Q2	Q3	Q4	Q1
2022	2022	2022	2022	2023

In CHF million	Q1 2023	Q1 2022	Variance
Gross profit	686	974	(30%)
EBIT	344	621	(45%)
Conversion rate	50%	64%

Analyst conference first quarter 2023 results | © Kuehne+Nagel Group | 3

Air Logistics

Yield normalisation trend continues

Tons '000	GP/100 kg in CHF	EBIT/100 kg in CHF
		100

	North America and Asia export
	volumes declining
	Europe, Intra-Asia and South
	America with relatively strong export

120

574	570
543	545
		475

						20
Q1	Q2	Q3	Q4	Q1
2022	2022	2022	2022	2023

142	140
		130
		118
		2014-2019 avg. GP/100 kg: CHF 73	103

Q1	Q2	Q3	Q4	Q1
2022	2022	2022	2022	2023

74	70
	59
	48

	2014 - 2019 avg. EBIT/100 kg: CHF 21		32
-
Q1	Q2	Q3	Q4		Q1
2022	2022	2022	2022	2023

volumes

 Inflationary pressure partially

compensated by cost reductions

In CHF million	Q1 2023	Q1 2022	Variance
Gross profit	488	817	(40%)
EBIT	154	425	(64%)
Conversion rate	32%	52%

Analyst conference first quarter 2023 results | © Kuehne+Nagel Group | 4

Road Logistics

Record result driven by high network utilisation

In CHF million	Q1 2023	Q1 2022	Variance
Net turnover	956	982	(3%)

• Stable volume development and high network utilisation
• 2% net turnover growth excluding foreign exchange translation impact

Gross profit	349	329	6%		Incremental Gross Profit converts
EBIT	52	30	73%		into EBIT
Conversion rate	15%	9%

Analyst conference first quarter 2023 results | © Kuehne+Nagel Group | 5