| CHF million | 2024 | 2023 |
Variance in per cent |
|---|---|---|---|
| Turnover | 27,356 | 26,649 | 2.7 |
| Net turnover | 24,802 | 23,849 | 4.0 |
|
Gross profit In per cent of net turnover |
8,670 35.0 |
8,787 36.8 |
–1.3 |
| EBITDA | 2,478 | 2,678 | –7.5 |
|
EBIT In per cent of net turnover In per cent of gross profit (conversion rate) |
1,654 6.7 19.1 |
1,903 8.0 21.7 |
–13.1 |
| Earnings | 1,230 | 1,464 | –16.0 |
| Earnings (Kuehne+Nagel share) | 1,181 | 1,431 | –17.5 |
| Earnings per share basic (in CHF) | 9.97 | 12.06 | –17.3 |
| Operational cash flow | 2,498 | 2,682 | –6.9 |
| Capital expenditures for fixed assets | 300 | 306 | –2.0 |
| Total employees at year-end | 80,215 | 80,983 | –0.9 |
| Total full-time equivalents of employees at year-end | 75,241 | 75,304 | –0.1 |
The Group’s net turnover increased by CHF 953 million or 4.0 per cent in 2024, and gross profit decreased by CHF 117 million or 1.3 per cent compared to the previous year, whereof the inorganic growth was 1.1 per cent of net turnover and 1.2 per cent of gross profit.
In 2024, EBIT decreased by CHF 249 million or 13.1 per cent. At constant exchange rates and excluding acquisitions, the reduction would have been CHF 224 million or 11.7 per cent. Earnings for the year 2024 decreased by CHF 234 million or 16.0 per cent compared to 2023. In constant currencies and excluding acquisitions, the Group would have decreased earnings for the year by CHF 216 million or 14.8 per cent. Capital expenditure in fixed assets decreased by CHF 6 million or 2.0 per cent to CHF 300 million compared to the previous year.
In 2024, the Group decreased the number of employees year-on-year by 768 or 0.9 per cent from 80,983 to 80,215 employees, which includes a net increase of 1,298 employees from business combinations. The number of full-time equivalents of employees reached 75,241 versus 75,304 in 2023, which is a decrease of 63 or 0.1 per cent.