STILL segment

The STILL segment achieved year-on-year increases in both order intake and revenue. Order intake went up by 5.6 per cent to €471.7 million (Q1 2013: €446.8 million), primarily due to strong growth in western Europe – particularly in Italy – and in the eastern European market. The acquisition of a majority stake in the Turkish dealer Arser, which was completed in 2013, also had a positive impact on order intake. By contrast, the volume of orders was less satisfactory in Brazil, where uncertainties in the market resulted in a decline in new truck business.

Segment revenue grew by 5.5 per cent to €432.3 million (Q1 2013: €409.8 million), also driven by the recovery in western European countries outside Germany and in eastern Europe. The Turkish dealer Arser also contributed to the increase in revenue. However, Brazil registered a year-on-year decrease in revenue. In terms of product categories, there was a rise in revenue from new truck business and an even stronger rise in the service business. Rental business and used truck business registered particularly significant year-on-year gains.

The segment’s adjusted EBIT advanced by 10.3 per cent to €24.2 million (Q1 2013: €21.9 million), above all due to the substantial level of new truck business. The adjusted EBIT margin improved from 5.4 per cent in the first quarter of 2013 to 5.6 per cent in the reporting period. >> TABLE 09