K&N reported CHF796mn net profit for 22Q2, up 78% YoY but down 4% QoQ, in line
with the consensus estimates in the capital market. Seafreight segment
contributed 55% of K&N's EBIT YTD, which was once the normal EBIT mix for K&N
before 2015.
K&N has more than doubled its dividend pay out during 22H1 to CHF1.2bn,
comparing to 21H1's CHF0.5bn. Another CHF550mn were used in share buyback. Those
distributions helped lower K&N's net cash position from CHF416mn at end of 2021
to CHF258mn at end of 22