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Proposal to the Annual General Meeting on May 4, 2021
The year 2020 was characterised by a weak first and a strong second semester. Kuehne+Nagel achieved a remarkably good result in an environment marked by crisis. Operational profit was above the previous year; total reported net earnings of the year decreased only slightly compared to 2019.
Net turnover of CHF 20.4 billion for the full year 2020 was below the 2019 figure due to lower volumes in the first half; EBIT, on the other hand, was almost one percentage point higher at CHF 1.1 billion. Currency fluctuations had a significant negative effect of -6% on both net turnover and EBIT. Free cash flow increased by 27.7%.