Status Report

Financial position

 

In 2023, total assets and liabilities of the Group decreased by CHF 3,780 million to CHF 10,971 million compared to 2022. The amount of cash and cash equivalents decreased by CHF 1,767 million to CHF 2,011 million. For details of changes in the balance sheet and cash flow statement, please refer to the consolidated financial statements.

Trade receivables amounting to CHF 3,634 million represent the most significant asset of the Group. The days of trade receivables outstanding increased to 53.3 days as of December 2023 compared to the previous year’s 51.0 days.

As of December 31, 2023, the equity of the Group decreased by CHF 988 million to CHF 3,159 million compared to CHF 4,147 million as of December 31, 2022, which resulted in an equity ratio of 28.8 per cent (2022: 28.1 per cent).

Developments of other key financial indicators on capital structure are shown in the following table:

Kuehne+Nagel Group key figures on capital structure

Key figures on capital structure 2023 2022 2021 2020 2019
1 Equity ratio (in per cent) 28.8 28.1 21.9 24.5 23.6
2 Return on equity (in per cent) 37.8 70.1 69.5 32.8 33.6
3 Debt ratio (in per cent) 71.2 71.9 78.1 75.5 76.4
4 Short-term ratio of indebtedness (in per cent) 47.8 52.9 56.8 53.9 50.1
5 Intensity of long-term indebtedness (in per cent) 23.4 18.9 21.3 21.6 26.2
6 Fixed assets coverage ratio (in per cent) 123.1 144.8 127.5 119.1 106.0
7 Working capital (in CHF million) 1,075 2,148 1,365 727 275
8 Receivables terms (in days)* 53.3 51.0 49.2 50.5 52.5
9 Vendor terms (in days)* 64.7 60.1 53.2 66.6 63.7
10 Intensity of capital expenditure (in per cent)* 42.4 32.5 33.9 38.7 47.0

  * Calculation method has been changed as of 2021.       

  1. Total equity in relation to total assets at the end of the year.
  2. Net earnings for the year in relation to share capital plus reserves plus retained earnings as of January 1 of the current year minus dividend paid during the current year as of the date of distribution plus capital increase (incl. share premium) as of the date of payment.
  3. Total liabilities minus equity in relation to total assets.
  4. Short-term liabilities in relation to total assets.
  5. Long-term liabilities in relation to total assets.
  6. Total equity (including non-controlling interests) plus long-term liabilities in relation to non-current assets.
  7. Total current assets minus current liabilities.
  8. Turnover in relation to receivables outstanding at the end of the current year.
  9. Expenses for services from third parties in relation to trade liabilities/accrued trade expenses at the end of the current year.
  10. Non-current assets in relation to total assets.

Assets

CHF million

Liabilities and equity

CHF million