Selected notes to the condensed consolidated income statement
Revenue
The following tables show revenue from contracts with customers, broken down by sales region, product category, timing of revenue recognition, and segment.
|
Q3 2020 |
|||
|---|---|---|---|---|
in € million |
Industrial Trucks & Services |
Supply Chain Solutions |
Corporate Services |
Total |
Western Europe |
1,021.6 |
180.3 |
6.7 |
1,208.6 |
Eastern Europe |
133.7 |
9.0 |
1.0 |
143.7 |
Middle East and Africa |
15.5 |
1.2 |
0.0 |
16.7 |
North America |
23.5 |
395.1 |
0.0 |
418.7 |
Central and South America |
38.7 |
1.9 |
0.0 |
40.6 |
Asia-Pacific |
169.7 |
74.9 |
0.0 |
244.6 |
Total revenue |
1,402.7 |
662.5 |
7.7 |
2,072.9 |
|
|
|
|
|
New business |
654.7 |
|
|
654.7 |
Service business |
748.0 |
|
|
748.0 |
– Aftersales |
389.0 |
|
|
389.0 |
– Rental business |
227.7 |
|
|
227.7 |
– Used trucks |
93.0 |
|
|
93.0 |
– Other |
38.3 |
|
|
38.3 |
Business solutions |
|
492.8 |
|
492.8 |
Service business |
|
169.7 |
|
169.7 |
Corporate Services |
|
|
7.7 |
7.7 |
Total revenue |
1,402.7 |
662.5 |
7.7 |
2,072.9 |
|
|
|
|
|
Timing of revenue recognition |
|
|
|
|
Products and services transferred at a point in time |
1,039.2 |
74.6 |
4.0 |
1,117.8 |
Products and services transferred over a period of time |
363.5 |
587.9 |
3.7 |
955.1 |
|
Q3 2019 |
|||
|---|---|---|---|---|
in € million |
Industrial Trucks & Services |
Supply Chain Solutions |
Corporate Services |
Total |
Western Europe |
1,114.7 |
131.3 |
5.7 |
1,251.7 |
Eastern Europe |
155.5 |
4.7 |
2.4 |
162.6 |
Middle East and Africa |
18.6 |
4.6 |
0.0 |
23.2 |
North America |
48.6 |
395.4 |
0.0 |
444.0 |
Central and South America |
51.4 |
1.4 |
0.0 |
52.7 |
Asia-Pacific |
163.0 |
62.9 |
0.0 |
225.9 |
Total revenue |
1,551.7 |
600.2 |
8.1 |
2,160.0 |
|
|
|
|
|
New business |
805.1 |
|
|
805.1 |
Service business |
746.6 |
|
|
746.6 |
– Aftersales |
395.7 |
|
|
395.7 |
– Rental business |
226.0 |
|
|
226.0 |
– Used trucks |
87.0 |
|
|
87.0 |
– Other |
37.9 |
|
|
37.9 |
Business solutions |
|
439.8 |
|
439.8 |
Service business |
|
160.4 |
|
160.4 |
Corporate Services |
|
|
8.1 |
8.1 |
Total revenue |
1,551.7 |
600.2 |
8.1 |
2,160.0 |
|
|
|
|
|
Timing of revenue recognition |
|
|
|
|
Products and services transferred at a point in time |
1,195.3 |
68.5 |
6.7 |
1,270.6 |
Products and services transferred over a period of time |
356.4 |
531.7 |
1.4 |
889.5 |
|
Q1 – Q3 2020 |
|||
|---|---|---|---|---|
in € million |
Industrial Trucks & Services |
Supply Chain Solutions |
Corporate Services |
Total |
Western Europe |
2,997.2 |
506.9 |
15.3 |
3,519.4 |
Eastern Europe |
390.9 |
22.8 |
2.8 |
416.6 |
Middle East and Africa |
47.3 |
8.8 |
0.0 |
56.1 |
North America |
103.0 |
1,140.2 |
0.0 |
1,243.2 |
Central and South America |
104.7 |
6.8 |
0.0 |
111.5 |
Asia-Pacific |
462.9 |
190.4 |
0.0 |
653.4 |
Total revenue |
4,106.0 |
1,876.0 |
18.2 |
6,000.2 |
|
|
|
|
|
New business |
1,956.5 |
|
|
1,956.5 |
Service business |
2,149.6 |
|
|
2,149.6 |
– Aftersales |
1,110.4 |
|
|
1,110.4 |
– Rental business |
673.7 |
|
|
673.7 |
– Used trucks |
257.6 |
|
|
257.6 |
– Other |
107.9 |
|
|
107.9 |
Business solutions |
|
1,393.5 |
|
1,393.5 |
Service business |
|
482.4 |
|
482.4 |
Corporate Services |
|
|
18.2 |
18.2 |
Total revenue |
4,106.0 |
1,876.0 |
18.2 |
6,000.2 |
|
|
|
|
|
Timing of revenue recognition |
|
|
|
|
Products and services transferred at a point in time |
3,043.9 |
211.1 |
11.6 |
3,266.6 |
Products and services transferred over a period of time |
1,062.1 |
1,664.9 |
6.6 |
2,733.6 |
|
Q1 – Q3 2019 |
|||
|---|---|---|---|---|
in € million |
Industrial Trucks & Services |
Supply Chain Solutions |
Corporate Services |
Total |
Western Europe |
3,403.8 |
412.7 |
15.5 |
3,832.0 |
Eastern Europe |
470.2 |
24.5 |
3.5 |
498.2 |
Middle East and Africa |
58.1 |
11.8 |
0.1 |
70.0 |
North America |
113.5 |
1,191.9 |
0.0 |
1,305.4 |
Central and South America |
152.2 |
4.2 |
0.0 |
156.3 |
Asia-Pacific |
497.5 |
164.7 |
0.0 |
662.2 |
Total revenue |
4,695.3 |
1,809.8 |
19.1 |
6,524.2 |
|
|
|
|
|
New business |
2,452.7 |
|
|
2,452.7 |
Service business |
2,242.6 |
|
|
2,242.6 |
– Aftersales |
1,180.9 |
|
|
1,180.9 |
– Rental business |
684.4 |
|
|
684.4 |
– Used trucks |
263.5 |
|
|
263.5 |
– Other |
113.8 |
|
|
113.8 |
Business solutions |
|
1,366.9 |
|
1,366.9 |
Service business |
|
442.9 |
|
442.9 |
Corporate Services |
|
|
19.1 |
19.1 |
Total revenue |
4,695.3 |
1,809.8 |
19.1 |
6,524.2 |
|
|
|
|
|
Timing of revenue recognition |
|
|
|
|
Products and services transferred at a point in time |
3,621.2 |
191.8 |
14.6 |
3,827.6 |
Products and services transferred over a period of time |
1,074.1 |
1,618.0 |
4.5 |
2,696.6 |
Share of profit (loss) of equity-accounted investments
The share of profit (loss) of equity-accounted investments in the first three quarters of 2020 amounted to a loss of €4.9 million (Q1–Q3 2019: profit of €10.7 million).
The 10 percent stake in Linde Hydraulics GmbH & Co. KG, Aschaffenburg, was written down in the second quarter of 2020 due to the downturn in the company’s business. The impairment loss totaled €10.7 million and affects the Industrial Trucks & Services segment.
Net financial expenses
The net financial expenses, representing the balance of financial income and financial expenses, improved by €11.9 million to €64.1 million in the first three quarters of this year (Q1–Q3 2019: €75.9 million).
Of this amount, €18.4 million (Q1–Q3 2019: €25.4 million) was attributable to interest expense on loan liabilities and promissory notes. Currency effects totaling €11.7 million (Q1–Q3 2019: €11.3 million) had an adverse impact on net financial expenses. The net loss in respect of the retirement benefit obligation and similar obligations amounted to €10.6 million in the first nine months of 2020 (Q1–Q3 2019: €14.2 million).
Interest income from leases in an amount of €43.5 million (Q1–Q3 2019: €38.5 million) relates to the interest portion of lease payments in financial services transactions in which KION Group entities operate as lessors (in the case of leases classified as finance leases). Interest expense on leases of €40.7 million (Q1–Q3 2019: €40.2 million) was attributable both to liabilities from financing the direct and indirect leasing business and to liabilities from financing the short-term rental fleet.
Interest expense on procurement leases amounted to €10.6 million (Q1–Q3 2019: €11.5 million).
Income taxes
In the consolidated interim financial statements, income taxes for the current reporting period are calculated on the basis of the expected income tax rate for the full year.