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's activity report 2022

The main activity of Kuehne+Nagel IT Service Centre AS is the provision of information technology services.

The main factors in the macroeconomic field of information technology services in 2022 were: intensifying competition, development of new innovative solutions, complexity of personnel recruitment. The Kuehne + Nagel Group has successfully adapted to these factors.

The activity of Kuehne + Nagel IT Service Centre AS is not seasonal, the activity does not have social impacts. There is no need to deal with hedging financial risks as the vast majority of transactions are in euros and no financial investments are made.

Revenues, expenses and profit in 2022, the company's sales revenue was 45,319 thousand euros and the result of the financial year was a profit of 1,699 thousand euros.

Main ratios (thousand euros) 2022 2021

Sales revenue 45,319 37,136

Net profit 1,699 1,353

Net profitability 3.8% 3.6%

Coverage ratio of short-term liabilities 1.10 1.07 (times)

ROA 15.0% 12.5%

Formulas used in calculating ratios:

Net profitability (%) = net profit / sales revenue * 100

Coverage ratio of short-term liabilities (ratio) = current assets / short-term liabilities

ROA (%) = net profit / total assets * 100

Staff

The average number of employees of Kuehne+Nagel IT Service Centre AS in the financial year was 495 employees. The company's labor costs amounted to 28,836 thousand euros in the financial year.

Investments in computer systems in 2022 were 490 thousand euros.

In 2023, it is planned to invest 65 thousand euros in computer systems, 64 thousand euros in office equipment and 30 thousand euros in office renovation and 17 thousand euros in planning office improvements.

Research and development projects

All research and development projects are planned and implemented at the Kuehne + Nagel Group level. Kuehne + Nagel IT Service Centre AS has not carried out or planned research and development projects for the future.

Objectives for the next financial year

The company's primary priority for 2023 continues to be the provision of information technology services.