Financial position

Total assets and liabilities of the Group increased by CHF 8 million to CHF 5,941 million compared to 2009. The changes are mainly a decrease in property, plant and equipment, and other intangibles assets due to depreciation and currency impact; details can be found in notes 27 and 28 to the Consolidated Income Statement. Cash and cash equivalents increased by CHF 344 million mainly due to a strong operational cash flow and reduced capital expenditure; for further information, refer to the cash flow statement.

Trade receivables amounting to CHF 2,077 million represent the most significant asset of the Kuehne + Nagel Group. The days outstanding of 37.8 days in 2010 decreased from 40.6 days in 2009.

The equity of the Group has increased by CHF 88 million to CHF 2,378; this represents an equity ratio of 40.0 per cent (2009: 38.6 per cent). Developments of other key figures on capital structure are shown in the following table:

Kuehne + Nagel Group key figures on capital structure