We work closely with securities analysts to provide a transparent view of current market expectations. The following data represent the median estimates sourced from our most recent poll.
Market Estimates and Consensus Data
| Median Estimates (CHF, m)* | 2024 | 2025 | 2026 |
|---|---|---|---|
| Net Turnover | 24.328 | 24.666 | 25.523 |
| Sea Logistics | 8.891 | 8.736 | 9.053 |
| Air Logistics | 7.189 | 7.402 | 7.588 |
| Road Logistics | 3.490 | 3.640 | 3.745 |
| Contract Logistics | 4.701 | 4.974 | 5.175 |
| Gross Profit | 8.678 | 8.934 | 9.310 |
| Sea Logistics | 2.089 | 2.073 | 2.135 |
| Air Logistics | 1.723 | 1.802 | 1.881 |
| Road Logistics | 1.307 | 1.344 | 1.387 |
| Contract Logistics | 3.559 | 3.701 | 3.843 |
| EBIT | 1.681 | 1.748 | 1.816 |
| Sea Logistics | 869 | 853 | 864 |
| Air Logistics | 467 | 534 | 564 |
| Road Logistics | 112 | 125 | 135 |
| Contract Logistics | 220 | 240 | 271 |
| Profit before tax | 1.667 | 1.742 | 1.821 |
| Profit after tax | 1.249 | 1.289 | 1.348 |
| Non-controlling interests | -45 | -39 | -42 |
| Net Profit, equity holders | 1.207 | 1.250 | 1.291 |
| EPS | 10,15 | 10,50 | 10,95 |
| DPS | 7,67 | 7,95 | 8,29 |
| Net debt** | -1.045 | -1.186 | -1.549 |
| Free Cash Flow | 737 | 1.224 | 1.325 |
* Each line item based on median estimate. Therefore Business Unit projections may not reconcile completely with group projections.
** Excluding IFRS16 capitalized leases.
Publication date: November 14, 2024
Median based upon contributions from the following brokers:
Barclays, Bernstein, BofA, BNP Paribas Exane, Citi, Deutsche Bank, Goldman Sachs, HSBC, J.P. Morgan, Kepler Cheuvreux, Morgan Stanley, Research Partners, Stifel, TD Cowen, UBS, Vontobel, Zürcher Kantonalbank.
Analyst Coverage
Kuehne+Nagel's business activities are regularly followed by the following analysts, amongst others.
| Bank | Lead Analyst |
|---|---|
| AlphaValue | Kulwinder Rajpal |
| Barclays | Marco Limite |
| Bernstein | Alexander Irving |
| BofA | Muneeba Kayani |
| Citi | Sathish Sivakumar |
| Deutsche Bank | Andy Chu |
| Exane BNP Paribas | Robert Joynson |
| Goldman Sachs | Patrick Creuset |
| HSBC | Parash Jain |
| J.P. Morgan | Alexia Dogani |
| Morgan Stanley | Cedar Ekblom |
| Morningstar | Michael Field |
| Research Partners | Alexander Burgansky |
| Stifel | Johannes Braun |
| TD Cowen | Jason Seidl |
| UBS | Sebastian Vogel |
| Vontobel | Michael Foeth |
| Zürcher Kantonalbank | Gian Marco Werro |
Opinions, forecasts and estimates regarding the Kuehne + Nagel Group made by the above listed analysts are theirs alone and do not represent opinions, predictions or forecasts of the Kuehne+Nagel Group or its management. By the reference above, Kuehne+Nagel does not imply its endorsement of or concurrence with such information, conclusions or recommendations.
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**Disclaimer
The median consensus estimate is based on the underlying analyses, reports, recommendations, and assessments of those analysts cited as sources only, who cover KUEHNE+NAGEL, but never KUEHNE+NAGEL own analyses. It is provided for informational purposes and from an outside third party perspective only. In determining and providing the median consensus estimate, KUEHNE+NAGEL does not itself perform any financial analysis containing either a direct or indirect investment recommendation and does not imply its endorsement of or concurrence with such information. The analysts' opinions, forecasts, estimates, and projections regarding the performance of KUEHNE+NAGEL merely reflect the opinions of these analysts and do not reflect the opinions, forecasts, estimates, and projections of KUEHNE+NAGEL. KUEHNE+NAGEL hereby expressly declares that it does not endorse the recommendations, opinions, and conclusions of analysts, nor does it support nor confirm them. The information provided on this web page does not constitute an invitation to buy, hold, or sell securities, any other investment recommendation, or any offer or advertisement for securities. KUEHNE+NAGEL does not assume any liability for the specific information presented, its quality, or that such information is accurate, complete, up-to-date or revised. KUEHNE+NAGEL is not liable for any loss or damage suffered by third parties as a result of information contained on this web page. Please note that various known and unknown risks, uncertainties and other factors could lead to material differences between KUEHNE+NAGEL's actual future results, financial situation, development or performance, and the estimates provided with the median consensus.
