ANNUAL REPORT 2011 - Kuehne + Nagel

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OTHER NOTES 20 Segment Reporting a) Reportable segments The Group provides integrated logistics solutions across customer’s supply chains using its global logistics network. The business is divided into six operating segments namely Seafreight, Airfreight, Road & Rail Logistics, Contract Logistics, Real Estate and Insurance Brokers. These six reportable segments reflect the internal management and reporting structure to the Management Board (the chief operating decision maker, CODM) and are managed through specific organisational structures. The CODM reviews internal management reports on a monthly basis. Each segment is a distinguishable business unit and is engaged in providing and selling discrete products and services. The discrete distinction between Seafreight, Airfreight and Road & Rail Logistics is the usage of the same transportation mode within a reportable segment. In addition to common business processes and management routines, mainly transportation mode is the same within a reportable segment. For the reportable segment Contract Logistics the services performed are related to customer contracts for warehouse and distribution activities, whereby services performed are storage, handling and distribu- Consolidated Financial Statements 2011 _ _ _ _ _ _ Other Notes tion. In the reportable segment Real Estate, activities mainly related to internal rent of facilities are reported. Under Insurance Brokers, activities exclusively related to brokerage of insurance coverage, mainly marine liability, are reported. Pricing between segments is determined on an arm’s length basis. The accounting policies of the reportable segments are the same as applied in the Consolidated Financial Statements. Information about the reportable segments is presented on the next pages. Segment performance is based on EBIT as reviewed by the CODM. The column “elimination” is eliminations of turnover and expenses between segments. All operating expenses are allocated to the segments and included in the EBIT. b) Geographical information The Group is operating on a worldwide basis in the following geographical areas: Europe, Americas, Asia-Pacific and Middle East, Central Asia and Africa. All products and services are provided in each of these geographical regions. The segment revenue is based on the geographical location of the customers invoiced, and segment assets are based on the geographical location of assets. c) Major customers There is no single customer who represents more than 10 per cent of the Group’s total revenue. 71
72 Consolidated Financial Statements 2011 _ _ _ _ _ _ Other Notes a) Reportable segments Total Group Seafreight Airfreight Road & Rail Logistics CHF million 2011 2010 2011 2010 2011 2010 2011 2010 Invoiced turnover (external customers) 19,596 20,261 8,330 8,996 4,020 4,044 2,967 2,776 Invoiced inter-segment turnover – – 1,582 1,752 2,305 2,281 1,185 855 Customs duties and taxes –3,378 –3,403 –2,231 –2,265 –616 –692 –282 –233 Net invoiced turnover 16,218 16,858 7,681 8,483 5,709 5,633 3,870 3,398 Net expenses for services from third parties –10,320 –10,900 –6,427 –7,259 –4,914 –4,884 –3,013 –2,573 Gross profit 5,898 5,958 1,254 1,224 795 749 857 825 Total expenses –4,920 –4,954 –816 –783 –543 –515 –815 –782 EBITDA Depreciation of property, 978 1,004 438 441 252 234 42 43 plant and equipment –154 –164 –17 –16 –10 –12 –30 –34 Amortisation of other intangibles –69 –75 –8 –9 –7 –6 –25 –26 Impairment of other intangibles –5 – –2 – –3 – – – EBIT (segment profit/(loss)) 750 765 411 416 232 216 –13 –17 Financial income 20 6 Financial expenses –8 –9 Result from joint ventures and associates 4 5 2 3 – – 1 2 Earnings before tax (EBT) 766 767 Income tax –160 –162 Earnings for the year 606 605 Attributable to: Equity holders of the parent company 601 601 Non-controlling interests 5 4 Earnings for the year 606 605 Additional information not regularly reported to CODM Non-current segment assets 2,239 2,058 121 61 65 37 364 283 Segment assets 6,141 5,941 1,186 1,087 642 492 770 658 Segment liabilities 3,736 3,563 1,110 1,088 641 568 580 511 Allocation of goodwill 696 590 45 23 39 14 217 152 Allocation of other intangibles Capital expenditure property, 196 176 25 20 26 11 94 73 plant and equipment 207 134 22 13 15 10 81 21 Capital expenditure other intangibles Property, plant and equipment, goodwill and intangibles through 11 17 2 5 2 3 1 3 business combinations 263 3 47 – 53 – 157 3 Non-cash expenses 104 119 15 15 11 12 17 18
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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
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 and 76: 58 Consolidated Financial Statement
Page 87: 70 Consolidated Financial Statement
Page 117 and 118: 100 Consolidated Financial Statemen
Page 131 and 132: 114 SIGNIFICANT SUBSIDIARIES AND JO
Page 137 and 138: 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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