Consolidated Financial Statements 2018 of the Kuehne + Nagel Group

Income Statement

CHF million	Note	2018	2017	Variance per cent
Net turnover	19	20,774	18,594	11.7
Net expenses for services from third parties		–13,065	–11,571
Gross profit	19	7,709	7,023	9.8
Personnel expenses	20	–4,736	–4,243
Selling, general and administrative expenses	21	–1,811	–1,643
Other operating income/expenses, net	22	47	13
EBITDA		1,209	1,150	5.1
Depreciation of property, plant and equipment	26	–192	–172
Amortisation of other intangibles	27	–30	–41
EBIT		987	937	5.3
Financial income	23	10	16
Financial expenses	23	–7	–4
Result from joint ventures and associates		4	6
Earnings before tax (EBT)		994	955	4.1
Income tax	24	–222	–215
Earnings for the year		772	740	4.3

Attributable to:
Equity holders of the parent company		770	737	4.5
Non-controlling interests		2	3
Earnings for the year		772	740	4.3

Basic earnings per share in CHF	25	6.43	6.16	4.5
Diluted earnings per share in CHF	25	6.42	6.15	4.5