ANNUAL REPORT 2010 - Kuehne + Nagel

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HIGHTECH _ _ _ _ _ _ _ THERE IS A GROWING DEMAND FOR INTEGRATED LOGISTICS SOLUTIONS IN THE HIGH-TECH INDUSTRY ASIA-PACIFIC _ _ _ _ _ _ 25
26 REPORTS OF THE BUSINESS UNITS Seafreight: Strong recovery in 2010 Kuehne + Nagel is back to its traditional growth dynamics. With an increase in container volume of almost 16 per cent, in 2010, the company outperformed the market and reaffirmed its leadership in the global seafreight business. Container market growing again Beginning in the autumn of 2008, the financial and economic crisis caused substantial problems for international container shipping; in 2009, global volumes slumped by almost 12 per cent. A turnaround was experienced by the rise in container volumes handled in the second half of 2009 and the positive development of business in the first quarter of 2010. Driving the upward trend, which resulted in a market growth between 10 and 12 per cent in 2010, were the trades from Asia, particularly China, to all regions of the world. Both the transpacific trade and the routes between Asia-Pacific and Europe showed impressive growth rates of 17 per cent. In the preceding year, container volumes in these trade lanes had suffered declines of 14 and 10 per cent, respectively. In 2010, Kuehne + Nagel recovered its growth momentum of the pre-crisis years and gained market share in almost all trade lanes. The company experienced the biggest growth in the trades from Asia to North America and to the Middle East. The Group also increased its market share in the trans-Atlantic trades, where market growth was up more than 13 per cent in 2010. North-south traffic benefited also from the economic recovery. While exports from Asia to Africa and Latin America increased by more than 20 per cent, demand in the trades from Europe and the United States to Latin America did not reach that level. Kuehne + Nagel outperformed the market on almost all these routes and recorded its best results in the trades between Asia and Latin America. Kuehne + Nagel’s route management proved its value in the times of high business volumes, ensuring the prompt execution of customer orders. Higher productivity and process optimisation resulted in a 17.3 per cent improvement in the operational result. Its strategic partnerships with leading carriers enabled Kuehne + Nagel to offer capacity in every alliance and on every container vessel and to handle large volumes for its customers without any problems. Furthermore, in 2010 the company expanded its capacities on many routes, further increasing the flexibility of its offering. Development of rates In 2009, with container shipping in the down-current of recession, the global fall in volumes led to a dramatic slump in freight rates. To counter this trend and bring supply in line with demand, shipping companies initiated various measures such as laying-up containerships, cancelling new-building orders, and “slow-steaming programmes”. The strong revival of demand in the first half of 2010, led to full ships and a significant rise in rates, to which the drastic reduction of capacity was also a contributing factor. Although the rate level fell back in the second half of 2010 when growth returned to normal and additional capacity came onto the market, it still remained substantially higher than in the preceding year. While more than 12 per cent of the container fleet had been laid up at the end of 2009, this figure was reduced to around 2 per cent by the end of 2010. Internal processes and information technology Kuehne + Nagel continued to invest in its IT-based seafreight services to further enhance customer satisfaction and cost efficiency. Since the company is increasingly conducting its business with the shipping companies via INTTRA, the industry’s Internet portal, there was also a marked increase in the number of electronic container bookings. The KN Login information logistics system, which provides comprehensive visibility and monitoring throughout the supply chain, has enjoyed a high level of acceptance among customers for a number of years. In 2010, its functions were extended through the addition of new applications, specially tailored for retail, high-tech and automotive customers.
Page 1 and 2: ANNUAL REPORT 2010
Page 3 and 4: KUEHNE + NAGEL GROUP KEY DATA CHF m
Page 5 and 6: 4 The Board of Directors THE BOARD
Page 7 and 8: 6 Report of the Board of Directors
Page 9 and 10: 8 REPORT OF THE MANAGEMENT BOARD Ta
Page 11 and 12: 10 Report of the Management Board R
Page 13 and 14: 12 Status Report _ _ _ _ _ _ Income
Page 15 and 16: 14 Status Report _ _ _ _ _ _ Financ
Page 17 and 18: 16 Status Report _ _ _ _ _ _ Invest
Page 19 and 20: 18 Status Report _ _ _ _ _ _ Shareh
Page 21 and 22: 20 REGIONS _ _ _ _ _ _ GLOBAL NETWO
Page 23 and 24: 22 REGIONS _ _ _ _ _ _ ASIA-PACIFIC
Page 25: 24 REGIONS _ _ _ _ _ _ ASIA-PACIFIC
Page 29 and 30: 28 Reports of the Business Units _
Page 39 and 40: 38 REGIONS _ _ _ _ _ _ EUROPE, MIDD
Page 41 and 42: 40 REGIONS _ _ _ _ _ _ EUROPE, MIDD
Page 43 and 44: 42 Sustainability _ _ _ _ _ _ Human
Page 45 and 46: 44 Sustainability _ _ _ _ _ _ Kuehn
Page 47 and 48: 46 Sustainability _ _ _ _ _ _ Kuehn
Page 49 and 50: 48 Sustainability _ _ _ _ _ _ Quali
Page 51 and 52: 50 REGIONS _ _ _ _ _ _ AMERICAS PHA
Page 53 and 54: 52 REGIONS _ _ _ _ _ _ AMERICAS PER
Page 55 and 56: 54 CORPORATE GOVERNANCE Kuehne + Na
Page 57 and 58: 56 Corporate Governance Klaus-Micha
Page 59 and 60: 58 Corporate Governance Dr. Wolfgan
Page 61 and 62: 60 Corporate Governance The Committ
Page 63 and 64: 62 Corporate Governance Management
Page 65 and 66: 64 Corporate Governance Shareholder
Page 67 and 68: 66 CONSOLIDATED FINANCIAL STATEMENT
Page 69 and 70: 68 Consolidated Financial Statement
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76 Consolidated Financial Statement
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100 Consolidated Financial Statemen
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120 SIGNIFICANT SUBSIDIARIES AND JO
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126 FINANCIAL STATEMENTS 2010 OF KU
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128 Financial Statements 2010 _ _ _
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CORPORATE TIMETABLE 2011 March 1, 2
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ANNUAL REPORT 2010 - Kuehne + Nagel

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