Dear shareholders,

Despite a demanding economic and political climate in 2023, we — Kuehne+Nagel International AG — continued to perform well. We remain the ultimate partner that can 
be relied on for outstanding logistics solutions even, or indeed in, challenging times. We quickly plan alternative transport routes for our customers if geopolitical events make a connection seem inopportune, for example. 

We are the number one worldwide in Sea and Air Logistics and we are strongly positioned in Road and Contract Logistics. Concentrating wholly and fully on our customers’ needs allows us to achieve this day in, day out. In March 2023, Kuehne+Nagel’s Board of Directors launched the Roadmap 2026 together with the Management in order to future-proof our unique position. The Roadmap outlines the systematic development of our strategic course over the years to come. It is based on a clear customer- and employee-driven experience, further improvement of our digital platforms and programmes to strengthen our market position and sustainability.

We saw considerable success emerge in this respect in 2023. In Asia in particular —  we increased our market shares across industries. The acquisition of Chinese air freight service provider Apex Logistics in 2021 has played a key role here and is paying off now more than ever.

Our strategic course over the past year has also paid off for our shareholders. Despite weak global consumer demand, our Roadmap 2026 initiatives and continuous optimisation of our processes have led to our strong performance. The Kuehne+Nagel Group’s results in 2023 were significantly higher than our pre-coronavirus figures.

In financial year 2023, Kuehne+Nagel generated net turnover of CHF 23.8 billion and an operating profit (EBIT) of CHF 1.9 billion. In June 2023, Kuehne+Nagel became the first ever logistics company to join Switzerland’s key stock market index — the Swiss Market Index (SMI). The SMI listing has brought us greater attention in the public eye, which is a benefit when attracting new employees, for example.

Kuehne+Nagel has approximately 81,000 employees at more than 1,300 sites across all the continents. All our business units contributed to the Company’s success in financial year 2023. 

Sea Logistics saw us lead the transpacific route between China and the West Coast of the US for the first time. In our Air Logistics unit, we put the last two Boeing 747s ever to be produced into service. They now transport high-quality goods from large-scale machinery to automotive components and pharmaceutical products around the world under the Kuehne+Nagel flag. Our Road Logistics business unit put its first small fleet of electric trucks into operation, ringing in the next era of sustainable road transport. And lastly, in Contract Logistics, we significantly strengthened our position in Healthcare logistics and in e-commerce.

Financial year 2023 also brought change to the Management Board of Kuehne+Nagel International AG. In April 2023, Sarah Kreienbuehl succeeded long-standing Chief Human Resources Officer Lothar Harings. Prior to joining the Company, Mrs. Kreienbuehl was Chief Human Resources Officer at Migros, Switzerland’s largest private employer with a workforce of over 100,000. In August 2023 and after 26 years at Kuehne+Nagel, Otto Schacht handed over the reins of the Sea Logistics business unit to Michael Aldwell. The New Zealander has over 16 years of experience in Kuehne+Nagel’s Sea Logistics business unit. We are delighted to have been able to fill this key position with a proven manager from amongst our ranks.