Status Report

Financial Position


In 2017, total assets and liabilities of the Group increased in 2017 by CHF 1,126 million to CHF 7,457 million compared to 2016. The amount of cash and cash equivalents decreased by CHF 127 million, mainly due to changes in working capital through volume growth and rate increases in Sea and Airfreight. For details of changes in the balance sheet and cash flow statement, please refer to the Consolidated Financial Statements.

 

Trade receivables amounting to CHF 3,537 million represent the most significant asset of the Kuehne + Nagel Group. The days of trade receivables outstanding increased by December 2017 to 53.9 days compared to 46.6 of December 31, 2016, reflecting an increasingly higher pressure from customers for longer credit terms.

 

As of December 31, 2017, the equity of the Group increased by CHF 162 million to CHF 2,327 million, which represents an equity ratio of 31.2 per cent (2016: 34.2 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 2017 2016 2015 2014 2013
1 Equity ratio (in per cent) 31.2 34.2 34.9 37.1 40.1
2 Return on equity (in per cent) 32.1 32.8 28.7 24.9 23.9
3 Debt ratio (in per cent) 68.8 65.8 65.1 62.9 59.9
4 Short-term ratio of indebtedness (in per cent) 60.5 55.7 55.3 52.7 51.0
5 Intensity of long-term indebtedness (in per cent) 8.3 10.1 9.9 10.2 8.8
6 Fixed assets coverage ratio (in per cent) 120.5 126.9 122.2 143.6 146.3
7 Working capital (in CHF million) 502 595 496 949 988
8 Receivables terms (in days) 53.9 46.6 44.4 44.4 43.2
9 Vendor terms (in days) 69.0 60.2 55.1 54.9 52.6
10 Intensity of capital expenditure (in per cent) 32.8 34.9 36.6 32.9 33.5

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 + reserves + retained earnings as of January 1 of the current year less dividend paid during the current year as of the date of distribution + capital increase (incl. share premium) as of the date of payment.

3 Total liabilities – 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) + long-term liabilities in relation to non-current assets.

7 Total current assets less 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

Liabilities