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Tuesday, 08/03/2022, 07:18 (GMT +7)
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Kuehne + Nagel achieves 173% profit growth in 2021
Global transportation and logistics group Kuehne + Nagel recorded a strong growth performance in 2021, with profits increasing 173% year-over-year to USD 2.4 billion.
Kuehne+Nagel Headquarters (Photo: K+N)
Global logistics and transport group Kuehne + Nagel - headquartered in Switzerland - recorded a strong growth performance in 2021, with profits increasing 173% year-on-year to USD 2.4 billion.
During the same period, Kuehne + Nagel's revenue grew 61% to USD 35.6 billion and its profits increased 32% year-on-year to a total of USD 10.76 billion.
Furthermore, the earnings before interest and taxes (EBIT), USD 3.1 billion, increased by 175% compared to 2020, the earning before interest, taxes, depreciation and amortization (EBITDA) also increased by 92%, to USD 4 billion.
In addition, the conversion rate, EBIT response as a percentage of the group's profits, reached 30%, exceeding the target of 16% in 2022, according to the statement.
Additionally, cash flow due to the group is USD 2.34 billion in 2021, reflecting 23% year-over-year growth, according to Kuehne+Nagel data.
Kuehne + Nagel's financial report for 2021 (Source: Kuehne + Nagel)
Regarding the performance of Kuehne+Nagel Group in the field of sea logistics, container throughput reached 4.6 million TEUs in 2021, up 2% year-on-year.
Detlef Trefzger, CEO of Kuehne + Nagel International commented: “In 2021, Kuehne+Nagel proved itself an important and reliable logistics partner in a challenging market environment.”
He also noted that year-to-date, business development is favorable. "However, Russia’s acts of war highlight the unpredictable nature of geopolitics – the effects of which on economic development cannot yet be assessed," added Trefzger.
Joerg Wolle, Chairman of the Board of Directors of Kuehne + Nagel International AG commented: “In 2021, Kuehne+Nagel successfully capitalised on the strategic initiatives of the past few years. The Company is an agile, innovative and leading logistics provider shaping an increasingly vital sector of the global economy. Kuehne+Nagel is strategically well positioned for sustainable growth with promising potential for the future. We are delighted to propose a dividend of CHF 10 per share to the Annual General Meeting, enabling our shareholders to participate in the Company’s success.”
Read more:
- Kuehne+Nagel Vietnam recognised as one of the Best Companies to Work for in Asia – Vietnam Region by HR Asia
- Kuehne + Nagel launches an online quotation platform for intra-Asian shippers
- Corona Virus interferes with K+N's acquisition of Asia market
Source: Phaata.com (According to Kuehne + Nagel)
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