ANNUAL REPORT 2011 - Kuehne + Nagel

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Statement of Changes in Equity CHF million Share Share Treasury Cumulative Actuarial Retained Total equity Non- Total capital premium shares translation gains & earnings attributable controlling equity adjustment losses to the interests equity holders of parent company Balance as of January 1, 2010 120 684 –88 –345 –11 1,920 2,280 10 2,290 Earnings for the year – – – – – 601 601 4 605 Other comprehensive income Foreign exchange differences Actuarial gains/(losses) on – – – –296 – – –296 – –296 defined benefit plans, net of tax Total other comprehensive income, – – – – –15 – –15 – –15 net of tax – – – –296 –15 – –311 – –311 Total comprehensive income for the year – – – –296 –15 601 290 4 294 Disposal of treasury shares – 21 37 – – – 58 – 58 Dividend paid 1 Expenses for employee share purchase – – – – – –273 –273 –1 –274 and option plan – – – – – 10 10 – 10 Total transactions with owners – 21 37 – – –263 –205 –1 –206 Balance as of December 31, 2010 120 705 –51 –641 –26 2,258 2,365 13 2,378 Earnings for the year – – – – – 601 601 5 606 Other comprehensive income Consolidated Financial Statements 2011 _ _ _ _ _ _ Statement of Changes in Equity Foreign exchange differences Actuarial gains/(losses) on – – – –74 – – –74 –1 –75 defined benefit plans, net of tax Total other comprehensive income, – – – – –18 – –18 – –18 net of tax – – – –74 –18 – –92 –1 –93 Total comprehensive income for the year – – – –74 –18 601 509 4 513 Purchase of treasury shares – – –13 – – – –13 – –13 Disposal of treasury shares – 9 19 – – – 28 – 28 Dividend paid 1 – – – – – –328 –328 –1 –329 Distribution from capital contribution reserves Expenses for employee share purchase – –179 – – – – –179 – –179 and option plan Total contributions by and – – – – – 7 7 – 7 distributions to owners Acquisition of subsidiaries – –170 6 – – –321 –485 –1 –486 with non-controlling interests – – – – – 1 1 7 8 Transaction with non-controlling interests 2 – – – – – –8 –8 – –8 Total transactions with owners – –170 6 – – –328 –492 6 –486 Balance as of December 31, 2011 120 535 –45 –715 –44 2,531 2,382 23 2,405 1 CHF 2.75 per share (2010: CHF 2.30 per share). 2 The movement in retained earnings includes a put option for an acquisition of non-controlling interests in one of the Group's subsidiaries, see note 43. 59
60 Consolidated Financial Statements 2011 _ _ _ _ _ _ Cash Flow Statement Cash Flow Statement CHF million Note 2011 2010 Cash flow from operating activities Earnings for the year Reversal of non-cash items: 606 605 Income tax 25 160 162 Financial income 24 –20 –6 Financial expenses 24 8 9 Result from joint ventures and associates 29 –4 –5 Depreciation of property, plant and equipment 27 154 164 Amortisation of other intangibles 28 69 75 Impairment of other intangibles 28 5 – Expenses for employee share purchase and option plan 21 7 10 Gain on disposal of property, plant and equipment 23 –12 –30 Loss on disposal of property, plant and equipment 23 4 4 Net addition to provisions for pension plans and severance payments 1 4 Subtotal operational cash flow 978 992 (Increase)/decrease work in progress –27 –57 (Increase)/decrease trade and other receivables, prepayments –216 –329 Increase/(decrease) other liabilities 59 33 Increase/(decrease) provisions – 18 Increase/(decrease) trade payables, accrued trade expenses/deferred income 105 356 Income taxes paid –219 –148 Total cash flow from operating activities 680 865 Cash flow from investing activities Capital expenditure — Property, plant and equipment 27 –207 –147 — Other intangibles 28 –11 –19 Disposal of property, plant and equipment 18 56 Acquisition of subsidiaries, net of cash acquired 43 –174 –3 Purchase of financial investments 33 –281 – Disposal of financial investments 33 30 – Interest received 12 4 (Increase)/decrease of share capital in joint ventures 29 3 –36 Dividend received from joint ventures and associates 4 4 Total cash flow from investing activities Cash flow from financing activities –606 –141 Proceeds from interest-bearing liabilities 4 – Repayment of interest-bearing liabilities –37 –43 Interest paid –8 –7 Purchase of treasury shares 35 –13 – Disposal of treasury shares 35 28 58 Dividend paid to equity holders of parent company 35 –328 –273 Distribution from capital contribution reserves 35 –179 – Dividend paid to non-controlling interests –1 –1 Total cash flow from financing activities –534 –266 Exchange difference on cash and cash equivalents –20 –114 Increase/(decrease) in cash and cash equivalents –480 344 Cash and cash equivalents at the beginning of the year, net 34 1,315 971 Cash and cash equivalents at the end of the year, net 34 835 1,315
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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
Page 25 and 26: 8 REPORT OF THE MANAGEMENT BOARD St
Page 27 and 28: 10 Report of the Managament Board K
Page 29 and 30: 12 Report of the Managament Board u
Page 31 and 32: 14 Status Report _ _ _ _ _ _ Income
Page 33 and 34: 16 Status Report _ _ _ _ _ _ Financ
Page 35 and 36: 18 Status Report _ _ _ _ _ _ Invest
Page 37 and 38: 20 Status Report _ _ _ _ _ _ Shareh
Page 39 and 40: 22 REPORT OF THE BUSINESS UNITS Sea
Page 41 and 42: 24 Report of the Business Units _ _
Page 51 and 52: 34 Sustainability _ _ _ _ _ _ Human
Page 53 and 54: 36 Sustainability _ _ _ _ _ _ Kuehn
Page 55 and 56: 38 Sustainability _ _ _ _ _ _ Kuehn
Page 57 and 58: 40 Sustainability _ _ _ _ _ _ Quali
Page 59 and 60: 42 Global Network KUEHNE + NAGEL WO
Page 61 and 62: 44 CORPORATE GOVERNANCE Kuehne + Na
Page 63 and 64: 46 Corporate Governance Klaus-Micha
Page 65 and 66: 48 Corporate Governance Dr. Wolfgan
Page 67 and 68: 50 Corporate Governance On invitati
Page 69 and 70: 52 Corporate Governance Management
Page 71 and 72: 54 Corporate Governance The members
Page 73 and 74: 56 CONSOLIDATED FINANCIAL STATEMENT
Page 75: 58 Consolidated Financial Statement
Page 79 and 80: 62 Consolidated Financial Statement
Page 117 and 118: 100 Consolidated Financial Statemen
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110 Consolidated Financial Statemen
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114 SIGNIFICANT SUBSIDIARIES AND JO
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120 FINANCIAL STATEMENTS 2011 OF KU
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122 Financial Statements 2011 _ _ _
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CORPORATE TIMETABLE 2012 March 5, 2
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ANNUAL REPORT 2011 - Kuehne + Nagel

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