Consolidated financial statements 2023 of the Kuehne+Nagel Group

Income statement

CHF million Note 2023 2022 Variance in per cent
Net turnover 7 23,849 39,398 –39.5
Net expenses for services from third parties   –15,062 –28,289  
Gross profit 7 8,787 11,109 –20.9
Personnel expenses 8 –4,866 –5,144  
Selling, general and administrative expenses 9 –1,294 –1,454  
Other operating income/expenses, net 10 51 21  
EBITDA   2,678 4,532 –40.9
Depreciation of property, plant and equipment 14 –177 –192  
Depreciation of right-of-use assets 15 –544 –511  
Amortisation of other intangibles 16 –54 –66  
EBIT   1,903 3,763 –49.4
Financial income 11 73 59  
Financial expenses 11 –25 –20  
Result from joint ventures and associates   5 6  
Earnings before tax (EBT)   1,956 3,808 –48.6
Income tax 12 –492 –998  
Earnings for the year   1,464 2,810 –47.9
       
Attributable to:      
Equity holders of the parent company   1,431 2,644 –45.9
Non-controlling interests   33 166  
Earnings   1,464 2,810 –47.9
       
Basic earnings per share in CHF 13 12.06 22.15 –45.6
Diluted earnings per share in CHF 13 12.02 22.03 –45.4