Dear shareholders,

2024 was another successful year for Kuehne+Nagel International AG. Given the current environment and the many geopolitical tensions in the global economy, this is not to be taken for granted. A multitude of developments had a strong negative impact on global supply chains – a weak economy in Europe, emerging protectionist tendencies and regional conflicts.

As a reliable strategic partner, Kuehne+Nagel masters these challenges successfully. We stand for outstanding logistics solutions. In today’s highly connected world with increasingly disruptive systems, logistics is so much more than transporting goods from A to B. Advising our customers in their increasingly complex and global logistics needs is at the heart of Kuehne+Nagel’s proven strategy. This is where we can successfully leverage our specific strengths.  

The solid demand for efficient logistics services had a positive impact on Kuehne+Nagel’s business performance in 2024. Through strategically planned flexibility, an entrepreneurial culture and a strict focus on customer needs, Kuehne+Nagel consistently seized these competitive challenges. The consequences of the far-reaching reorganisation of the country and sales structure in the second quarter of 2024 also had a positive impact. 

Kuehne+Nagel’s international setup, which is unique in the logistics industry, places us in an excellent position for the future. A strong driver is the Asia-Pacific region, in which trade is seeing particularly dynamic growth and in which Kuehne+Nagel now generates around a quarter of its profit. In July 2024, the Group acquired the South East Asian road transport provider City Zone Express, which focuses on the growing trade in this region. 

In Canada, Kuehne+Nagel acquired the North American customs broker Farrow in January 2024, adding over 800 employees. In the United States, the Kuehne+Nagel Group strengthened its presence in marine drayage with the recent acquisition of 51 per cent of IMC Logistics of Tennessee. With around 1,700 employees, IMC generated revenues of around USD 800 million in 2023. 

Kuehne+Nagel’s strategic progress over the past year has once again paid off for you, our shareholders. Despite weak global consumer demand, our strategic initiatives, our strengthened sales structure and the continuous optimisation of our processes contributed to our good business performance. In 2024, the Kuehne+Nagel Group’s results were significantly above the comparable figures from before the pandemic. 

In financial year 2024, Kuehne+Nagel generated net turnover of CHF 24.8 billion and an operating profit (EBIT) of CHF 1.7 billion. All our business units contributed to the Company’s success. As a result of developments at individual competitors, the Group gained a large number of new customers in the fourth quarter of 2024 in particular. Kuehne+Nagel currently has over 80,000 employees at 1,300 sites across all the continents.  

For 2025, Kuehne+Nagel has initiated more measures to accelerate growth in all its business units with the aim of growing faster than the market, optimising use of our extensive global network for all transport carriers and strategically advancing our value-added services.  

On behalf of the entire Board of Directors and all Kuehne+Nagel colleagues, I would like to sincerely thank you for continuing to place your confidence in us. I would also like to extend my gratitude to all our employees for their contribution and performance. They have successfully demonstrated utmost dedication in a challenging environment.  

We would like our shareholders to participate in the company’s success by proposing an ordinary dividend of CHF 8.25 per share for the 2024 financial year, corresponding to a dividend yield of 3.3 per cent.