Supply Chain Solutions segment
Business performance and order intake
In the first quarter of 2021, order intake in the Supply Chain Solutions segment was up by an encouraging 20.9 percent to €829.8 million (Q1 2020: €686.3 million). The increase registered for business solutions was primarily attributable to orders from customers in the food industry. By contrast, there was a contraction in the volume of order intake recorded for customer services as a result of exchange-rate effects. Currency effects reduced order intake by a total of €29.7 million.
|
in € million |
Q1 2021 |
Q1 2020 |
Change |
||
|---|---|---|---|---|---|
|
Order intake |
829.8 |
686.3 |
20.9% |
||
|
Total revenue |
860.7 |
581.2 |
48.1% |
||
|
Order book1 |
3,132.8 |
3,071.1 |
2.0% |
||
|
EBITDA |
116.6 |
72.9 |
60.0% |
||
|
Adjusted EBITDA |
118.0 |
74.0 |
59.5% |
||
|
EBIT |
80.5 |
35.7 |
> 100% |
||
|
Adjusted EBIT |
101.7 |
58.7 |
73.3% |
||
|
|
|
|
|
||
|
Adjusted EBITDA margin |
13.7% |
12.7% |
– |
||
|
Adjusted EBIT margin |
11.8% |
10.1% |
– |
||
|
|||||
Revenue
The Supply Chain Solutions segment’s total revenue stood at €860.7 million (Q1 2020: €581.2 million). This significant year-on-year rise of 48.1 percent was due to the sustained high level of project-related capacity utilization. As there were already plenty of orders on the books at the start of the year, the segment was able to increase its revenue in the long-term project business (business solutions) by an exceptionally strong 70.2 percent, whereas revenue from the service business (customer services) fell by 3.8 percent as a result of exchange-rate effects. The proportion of the segment’s external revenue accounted for by customer services thus fell to 19.9 percent (Q1 2020: 30.6 percent). Currency effects reduced segment revenue by €50.2 million.
Earnings
The adjusted EBIT generated by the Supply Chain Solutions segment surged by 73.3 percent to €101.7 million in the first three months of 2021 (Q1 2020: €58.7 million). The adjusted EBIT margin therefore improved significantly to 11.8 percent (Q1 2020: 10.1 percent). The rise in earnings was primarily driven by the volume-related rise in gross profit and the fact that fixed costs rose at a lower rate than revenue. After taking into account non-recurring items and purchase price allocation effects, EBIT came to €80.5 million (Q1 2020: €35.7 million).
Adjusted EBITDA amounted to €118.0 million (Q1 2020: €74.0 million); the adjusted EBITDA margin rose to 13.7 percent (Q1 2020: 12.7 percent).