Revenue

Despite the very difficult market conditions and the temporary production restrictions, the KION Group was able to limit the decline in revenue to 5.3 percent. The consolidated revenue for 2019 of €8,806.5 million contrasted with a figure of €8,341.6 million in the reporting year. Currency effects had a negative impact on consolidated revenue, decreasing it by a total of €129.8 million.

In the Industrial Trucks & Services segment, revenue generated from external customers fell by 11.1 percent to €5,694.2 million (2019: €6,403.7 million). The main factor in this decrease was lower order intake for new trucks. The service business was again far more stable but still fell short of the prior-year figure.

Revenue from external customers in the Supply Chain Solutions segment increased by 10.2 percent to €2,619.4 million (2019: €2,376.1 million). Despite isolated delays to projects caused by local lockdowns, revenue from business solutions went up by a substantial 10.9 percent. The service business saw an encouraging rise of 8.2 percent that was primarily attributable to the increase in orders for the modernization and expansion of systems.

Overall, the proportion of consolidated revenue attributable to the service business grew from 41.5 percent in 2019 to 43.2 percent in 2020, partly due to the decline in new truck business.

Revenue by sales region

Much of the fall in revenue was attributable to the EMEA region in the Industrial Trucks & Services segment. New truck business was heavily affected by the lockdown measures in the spring, especially in western and eastern Europe. There was also a sharp increase in competitive pressure in the EMEA region that was primarily due to the continuing expansion of Chinese competitors. By contrast, the Supply Chain Solutions segment increased its revenue in the European markets. Within the Americas region, the Supply Chain Solutions segment recorded steady revenue growth in its key sales market of North America, despite delays to projects. In the APAC region, all parts of the Group benefited from the significant growth spurt that began in the second quarter, and revenue in the region was therefore just above the figure for the prior year.