The revenue generated by the KION Group was up by 0.3 per cent on the first three months of the previous year (Q1 2013: €1,085.2 million) and stood at €1,088.9 million. The decline in new truck business was more than offset by the marked rise in the service business. Adjusted for currency effects, revenue went up by 2.0 per cent. Negative currency effects, which totalled €18.4 million, were primarily attributable to the currency areas of Brazil and Australia.
Revenue from new truck business came to €577.7 million, which was 5.5 per cent down on the first quarter of 2013 (Q1 2013: €611.4 million). Decreases in revenue from diesel trucks and electric forklift trucks were only partly offset by a gain in revenue from warehouse technology products.
The sharp increase in revenue from the service business, which climbed by 7.9 per cent to €511.3 million (Q1 2013: €473.7 million), was due to a number of factors, including a greater volume of servicing and maintenance work under service agreements and the acquisition of a majority stake in Willenbrock at the end of 2013. There were substantial year-on-year improvements for the short-term and long-term rental businesses. The used truck business also generated more revenue than in the first quarter of 2013. Overall, the high-margin service business contributed 46.9 per cent (Q1 2013: 43.7 per cent) of the KION Group’s total revenue. >> TABLE 03
Revenue by product category |
>>TABLE 03 |
||
in € million |
Q1 2014 |
Q1 2013 |
Change |
|
|
|
|
New business |
577.7 |
611.4 |
–5.5% |
Service offering |
511.3 |
473.7 |
7.9% |
- After sales |
304.7 |
283.8 |
7.4% |
- Rental business |
116.5 |
107.8 |
8.0% |
- Used trucks |
64.0 |
52.8 |
21.1% |
- Other |
26.1 |
29.3 |
–11.0% |
Total |
1,088.9 |
1,085.2 |
0.3% |
Analysis of the individual sales regions reveals a mixed picture. The KION Group returned to growth in western Europe following moderate losses in the previous year and achieved a moderate rise in the important German market. Although revenue decreased by 1.3 per cent in eastern Europe, the proportion of revenue generated by this region was largely unchanged year on year despite the negative market trend in Russia caused by increased political tensions. Revenue in Brazil was affected by declining market volumes and currency effects. Asia also registered a slight decrease.
Taken together, the emerging markets accounted for 23.0 per cent of revenue in the first quarter of 2014 (Q1 2013: 24.3 per cent). Overall, markets outside Germany generated 73.3 per cent of total consolidated revenue (Q1 2013: 74.5 per cent). >> TABLE 04
Revenue by customer location |
>>TABLE 04 |
||
in € million |
Q1 2014 |
Q1 2013 |
Change |
|
|
|
|
Western Europe |
816.3 |
785.9 |
3.9% |
Eastern Europe |
82.0 |
83.0 |
–1.3% |
Americas |
55.1 |
70.4 |
–21.7% |
Asia |
100.3 |
105.0 |
–4.4% |
Rest of world |
35.2 |
40.8 |
–13.8% |
Total revenue |
1,088.9 |
1,085.2 |
0.3% |