ANNUAL REPORT 2011 - Kuehne + Nagel

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Status Report _ _ _ _ _ _ Shareholder return
In 2012 the depreciation of fixed assets is estimated at CHF
164 million and the amortisation of intangible assets at CHF
70 million (excluding potential acquisitions of companies).
Expected investments per region
CHF million
Europe 155
Americas 22
Asia-Pacific 22
Middle East, Central Asia and Africa 19
Total 218
Planned acquisitions
In order to reach the strategic goals in the Road & Rail Logistics
business segment, further acquisitions in Italy, Spain and Eastern
European countries can be expected within the next year.
Share price and market capitalisation (as of December 31)
Total shareholder return development
Shareholder return
In 2011, the Kuehne + Nagel share outperformed the BEUTRAN
Index, whereas it performed lower than the SMI and the SPI.
2011 2010 per cent
change
Share price (CHF) 105.50 130.0 –23.2
Market capitalisation (in CHF million) 12,660 15,600 –23.2
in CHF 2011 2010
Increase/(decrease) year over year –24.50 29.50
Dividend per share 4.25 1 2.30
Total return –20.25 31.80
1 Dividend payment of CHF 2.75 per share plus repayment of capital contribution reserves of CHF 1.50 per share.