STILL segment

Business performance and order intake

STILL saw its order intake go up by 4.5 per cent to €1,980.0 million in 2015 (2014: €1,895.1 million) and it consolidated its strong position in the key sales markets. Once again in 2015, electric forklift trucks and warehouse trucks accounted for a higher share of new truck orders than before, while unit sales of diesel trucks declined slightly. Whereas some major western and eastern European markets generated significant growth, orders fell in Russia and Brazil.

Revenue

Revenue in the STILL segment amounted to €1,950.2 million, exceeding the 2014 figure of €1,850.7 million by 5.4 per cent. The increase was attributable to the buoyant new truck business, which expanded by 5.1 per cent, and to the service business (servicing, spare parts, rentals and used trucks), where revenue was up by 5.6 per cent.

Earnings

Adjusted EBIT for the segment rose to €144.0 million (2014: €133.6 million). The adjusted EBIT margin stood at 7.4 per cent, slightly higher than the margin of 7.2 per cent in 2014. With the inclusion of non-recurring items, EBIT fell year on year to €117.5 million (2014: €118.4 million). This was because of expenses in connection with the efficiency measures initiated under the Strategy 2020.

Adjusted EBITDA rose to €258.3 million (2014: €240.4 million). The adjusted EBITDA margin was 13.2 per cent (2014: 13.0 per cent). > TABLE 022