STILL segment

In the second quarter, the STILL segment maintained its growth trajectory of the first three months of the year. Order intake amounted to €959.0 million, an increase of 11.9 per cent compared with the first half of 2013 (H1 2013: €857.0 million). STILL made substantial gains in its two main markets, Germany and Italy. The acquisition of a majority stake in the Turkish dealer Arser in the third quarter of 2013 also had a positive impact on order intake. By contrast, order intake in Brazil was down significantly year on year due, in part, to currency effects. In June 2014, STILL signed up the French company A.PSV Diffusion as a new sales partner for the North African market.

At €877.9 million, segment revenue was 4.2 per cent up on the prior-year level (H1 2013: €842.5 million). It was not possible to achieve the same level of revenue from new truck business as in the first half of 2013 owing to the weakness of the Brazilian market. However, there was a significant increase in the service business, particularly the used truck and spare parts businesses. A new European reconditioning centre that has opened in Poland will underpin the fast-growing service business.

The segment’s adjusted EBIT reached €50.3 million in the first half of 2014, just short of the figure for the first six months of last year of €50.9 million. The adjusted EBIT margin was 5.7 per cent (H1 2013: 6.0 per cent). >> TABLE 09