ANNUAL REPORT 2011 - Kuehne + Nagel
ANNUAL REPORT 2011 - Kuehne + Nagel
ANNUAL REPORT 2011 - Kuehne + Nagel
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120<br />
FINANCIAL STATEMENTS <strong>2011</strong><br />
OF KUEHNE + NAGEL INTERNATIONAL AG<br />
Income Statement<br />
CHF million Note <strong>2011</strong> 2010<br />
Income<br />
Income from investments in Group companies 1 524 615<br />
Sale of treasury shares 9 20<br />
Interest income on loan receivables from Group companies 2 1<br />
Other financial income 2 1<br />
Exchange gains 10 –<br />
Total income 547 637<br />
Expenses<br />
Operational –8 –6<br />
Interest expenses on liabilities towards Group companies –2 –4<br />
Losses from marketable securities – –2<br />
Exchange losses –2 –2<br />
Total expenses –12 –14<br />
Earnings before tax (EBT) 535 623<br />
Income Taxes –12 –31<br />
Earnings for the year 523 592
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