Revenue

At €2,233.3 million, the revenue generated by the KION Group in the first half of 2014 remained at the same level as last year (€2,234.4 million). A decline in revenue in the new truck business, caused in part by currency effects, was offset by strong growth in the service business. Adjusted for unfavourable currency effects amounting to €35.7 million, revenue for the first six months of the year was up by 1.5 per cent.

At €1,191.4 million, revenue from new trucks was 6.7 per cent down on the prior-year level (H1 2013: €1,276.5 million). There was a significant increase in the service business, however. Service revenue rose by 8.8 per cent to reach €1,041.9 million (H1 2013: €958.0 million), growth that in both quarters was attributable to a greater volume of servicing and maintenance work and to spare-parts sales. Another factor was the inclusion of revenue from the Willenbrock dealer, in which the KION Group acquired a majority stake at the end of 2013. There were also year-on-year improvements for the rental and used truck businesses. Overall, the high-margin service business contributed 46.7 per cent (H1 2013: 42.9 per cent) of the KION Group’s total revenue. >> TABLE 03

Revenue in western Europe, particularly in Germany and Italy, was significantly up on the prior-year level. Eastern Europe registered a moderate increase in the first half of the year. The prime contributor was Poland. The slight fall in revenue in Asia and the sharp decline in Brazil (partly caused by currency effects) were more than made up for by the growth in Europe. Overall, the growth markets accounted for 23.6 per cent of total revenue (H1 2013: 24.8 per cent). At 74.1 per cent, the KION Group generated just under three quarters of its revenue outside its home market of Germany – a similar level to the equivalent prior-year period (H1 2013: 75.2 per cent). >> TABLE 04