The STILL segment's revenue increased slightly by 0.6 per cent to €1,677 million (2011: €1,667 million). The reduction in revenue in western Europe was offset by substantial growth in central and eastern Europe and Asia, where significant new orders were secured. STILL’s market presence in eastern Europe has been strengthened even further by integrating of the STILL and OM dealers in Russia. In Yekaterinburg in the Ural region, STILL has already founded its third branch in Russia after Moscow and Saint Petersburg. In Poland, STILL’s service and distribution structure has been expanded via a new branch in Gdansk.
Also going significantly against the market trend, STILL generated revenue growth in South America, where the core market is Brazil. STILL took a further step towards becoming market leader there by relocating and expanding production (see Strategy of the KION Group section) and launching the production of diesel trucks. Revenue rose slightly in Asia, where STILL expanded its footprint by opening a new office in Singapore. In Italy, integration of OM into the STILL Group was completed, helping to consolidate STILL's market leadership.
Overall, revenue from new trucks was moderately lower than in 2011 despite the increase in revenue from diesel trucks. The relocation of production led to a decrease in the numbers of units manufactured during the transition period. This one-off effect was in line with expectations.
The small decrease in the new truck business was more than offset by higher revenue from service activities, with especially strong gains in revenue from short-term rental business.
EBIT in the STILL segment stood at €98 million in the year under review. This very substantial increase of €103 million was the result of the increase in sales, cost savings, and the use of efficiency gains. The EBIT figure reported for 2011, which had amounted to a net loss of €5 million, had been negatively affected by expenses in connection with the consolidation of production facilities in Europe and closure of the plants in Montataire and Bari, including provisions for the related severance payments. Accordingly, non-recurring items produced an expense of €97 million in 2011, compared with a net expense of just €17 million in 2012.
The KION acquisition items attributable to the STILL segment amounted to an expense of €7 million in 2012, compared with an expense of €8 million in 2011. Adjusted EBIT climbed to €123 million (2011: €100 million). This caused the adjusted EBIT margin to rise from 6.0 per cent in 2011 to 7.3 per cent in 2012. Adjusted EBITDA improved to €218 million (2011: €191 million), while the adjusted EBITDA margin climbed from 11.5 per cent to 13.0 per cent.