ANNUAL REPORT 2011 - Kuehne + Nagel

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REPORT OF THE STATUTORY AUDITORS TO THE ANNUAL GENERAL MEETING OF KUEHNE + NAGEL INTERNATIONAL AG, SCHINDELLEGI As statutory auditor, we have audited the accompanying financial statements of Kuehne + Nagel International AG, which comprise the income statement, balance sheet and notes on the pages 120 to 130 for the year ended December 31, 2011. Board of Directors’ responsibility The board of directors is responsible for the preparation of the financial statements in accordance with the requirements of Swiss law and the company’s articles of incorporation. This responsibility includes designing, implementing and maintaining an internal control system relevant to the preparation of financial statements that are free from material misstatement, whether due to fraud or error. The board of directors is further responsible for selecting and applying appropriate accounting policies and making accounting estimates that are reasonable in the circumstances. Auditor’s responsibility Our responsibility is to express an opinion on these financial statements based on our audit. We conducted our audit in accordance with Swiss law and Swiss Auditing Standards. Those standards require that we plan and perform the audit to obtain reasonable assurance whether the financial statements are free from material misstatement. An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the financial statements. The procedures selected depend on the auditor’s judgment, including the assessment of the risks of material misstatement of the financial statements, whether due to fraud or error. In making those risk assessments, the auditor considers the internal control system relevant to the entity’s preparation of the financial statements in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the entity’s Financial Statements 2011 _ _ _ _ _ _ Report of the Statutory Auditors internal control system. An audit also includes evaluating the appropriateness of the accounting policies used and the reasonableness of accounting estimates made, as well as evaluating the overall presentation of the financial statements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion. Opinion In our opinion, the financial statements for the year ended December 31, 2011, comply with Swiss law and the company’s articles of incorporation. Report on Other Legal Requirements We confirm that we meet the legal requirements on licensing according to the Auditor Oversight Act (AOA) and independence (article 728 CO and article 11 AOA) and that there are no circumstances incompatible with our independence. In accordance with article 728a paragraph 1 item 3 CO and Swiss Auditing Standard 890, we confirm that an internal control system exists, which has been designed for the preparation of financial statements according to the instructions of the board of directors. We further confirm that the proposed appropriation of available earnings complies with Swiss law and the company’s articles of incorporation. We recommend that the financial statements submitted to you be approved. KPMG AG Marc Ziegler Lukas Marty Licensed Audit Expert Licensed Audit Expert Auditor in Charge Zurich, March 2, 2012 131
CORPORATE TIMETABLE 2012 March 5, 2012 Full year 2011 results April 16, 2012 1 st quarter 2012 results May 8, 2012 Annual General Meeting July 16, 2012 Half-year 2012 results October 15, 2012 3 rd quarter 2012 results
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NETWORK AND PRODUCT PORTFOLIO KUEHN
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EXPANSION NETWORK AND PRODUCT PORTF
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BEIJING / CHINA MUMBAI / INDIA
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CHINA Kuehne + Nagel offers an exte
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INDIA The new automotive competence
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KUEHNE + NAGEL GROUP KEY DATA CHF m
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2 The Board of Directors KARL GERNA
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4 Report of the Board of Directors
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6 Report of the Board of Directors
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8 REPORT OF THE MANAGEMENT BOARD St
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10 Report of the Managament Board K
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12 Report of the Managament Board u
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14 Status Report _ _ _ _ _ _ Income
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16 Status Report _ _ _ _ _ _ Financ
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18 Status Report _ _ _ _ _ _ Invest
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20 Status Report _ _ _ _ _ _ Shareh
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22 REPORT OF THE BUSINESS UNITS Sea
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24 Report of the Business Units _ _
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34 Sustainability _ _ _ _ _ _ Human
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36 Sustainability _ _ _ _ _ _ Kuehn
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38 Sustainability _ _ _ _ _ _ Kuehn
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40 Sustainability _ _ _ _ _ _ Quali
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42 Global Network KUEHNE + NAGEL WO
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44 CORPORATE GOVERNANCE Kuehne + Na
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46 Corporate Governance Klaus-Micha
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48 Corporate Governance Dr. Wolfgan
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50 Corporate Governance On invitati
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52 Corporate Governance Management
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54 Corporate Governance The members
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56 CONSOLIDATED FINANCIAL STATEMENT
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58 Consolidated Financial Statement
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Page 97 and 98: 80 Consolidated Financial Statement
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Page 139 and 140: 122 Financial Statements 2011 _ _ _
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ANNUAL REPORT 2011 - Kuehne + Nagel

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