Business situation and financial performance of the STILL segment

The STILL segment, which consists of the STILL and OM STILL brand companies, expanded its product range in the first half of 2013. RX 70-series IC trucks with a load capacity of 4 to 8 tonnes were brought to market as seamless additions to STILL’s modular workplace concept and a new series of diesel trucks specially adapted to meet the needs of the South American market was introduced. The latter are produced at the new Indaiatuba plant in São Paulo.

In May 2013, STILL increased its commitment to Turkey by agreeing to acquire a majority (51 per cent) stake in Arser, currently its exclusive dealer. The transaction has not yet been closed, but it is expected to be completed in the third quarter of 2013. The sales company will then be branded STILL ARSER. The remaining 49 per cent of its shares are to be retained by Turkey’s Arkas Group.

The order intake of € 809.3 million was 0.7 per cent ahead of the first six months of 2012 (€ 803.7 million). Despite the order volume remaining virtually unchanged, revenue rose sharply in the second quarter. Compared with the first half of 2012, segment revenue was up by 3.0 per cent to € 842.5 million (H1 2012: € 818.1 million), primarily driven by higher revenue in Germany and Brazil. However, part of the rise in revenue was eclipsed by currency effects, such as the devaluation in the Brazilian real.

At € 50.9 million, adjusted EBIT was slightly down by 2.9 per cent on the first half of 2012 (€ 52.4 million). Following a downturn in profitability in the early part of the year, with 6.7 per cent the adjusted EBIT margin returned to its prior-year level in the second quarter. >> TABLE 09