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's activity report 2022

Kuehne + Nagel AS is engaged in organizing sea, air and road transport, as well as providing logistics and customs services.

The main factors in the macroeconomic field of freight forwarding in 2022 were: intensifying competition, innovation and the development of digital solutions, reducing CO2 emissions. The Kuehne + Nagel Group has successfully adapted to these factors.

The activity of Kuehne + Nagel AS is not seasonal, the activity does not have social impacts. It is not necessary to deal with hedging financial risks as the vast majority of transactions are in euros and no financial investments are made.

Revenues, expenses and profit in 2022, the company's sales revenue was 37,295 thousand euros and the result of the financial year was a profit of 2,218 thousand euros.

Main ratios (thousand euros) 2022 2021

Sales revenue 37,295 31,588

Net profit 2,218 1,965

Net profitability 5.9% 6.2%

Coverage ratio of short-term liabilities 1.93 1.42

ROA 43.5% 27.2%

Formulas used in calculating ratios:

Net profitability (%) = net profit / sales revenue * 100

Coverage ratio of short-term liabilities (times) = current assets / short-term liabilities

ROA (%) = net profit / total assets * 100

Staff

The average number of employees of Kuehne + Nagel AS during the financial year was 24 employees. In 2022, the company's labor costs amounted to 1,354 thousand euros.

Investments In 2022, 39 thousand euros were invested in transport means and 3 thousand euros in computer systems.

In 2023, it is planned to invest 15 thousand euros in computer systems and 230 thousand euros in the office lease contract.

Research and development projects

All research and development projects are planned and implemented at the Kuehne + Nagel Group level. Kuehne + Nagel AS has not carried out or planned research and development projects for the future.

Goals for the next financial year

The primary priority for 2023 is the continued development of employees and the services provided.