Revenue
Consolidated revenue went up by 26.5 percent to €4,967.9 million in the first half of 2021 (H1 2020: €3,927.3 million). In the Industrial Trucks & Services segment, revenue generated from external customers rose by 14.9 percent to €3,114.4 million (H1 2020: €2,710.9 million), driven by the increase in new truck business, particularly in the second quarter, and by sharp growth in the service business. The Supply Chain Solutions segment increased its revenue from external customers by a very substantial 52.4 percent to €1,849.1 million (H1 2020: €1,213.5 million), primarily by working through the substantial order book in the project business (business solutions). The segment’s revenue from the service business also went up year on year.
Overall, the proportion of consolidated revenue attributable to the service business declined from 44.4 percent in the prior-year period to 40.0 percent in the first half of 2021 due to the disproportionately strong growth of the project business in the Supply Chain Solutions segment. Currency effects reduced consolidated revenue by €128.0 million.
in € million |
Q2 |
Q2 |
Change |
Q1 – Q2 |
Q1 – Q2 |
Change |
||
|---|---|---|---|---|---|---|---|---|
Industrial Trucks & Services |
1,598.3 |
1,265.0 |
26.3% |
3,114.4 |
2,710.9 |
14.9% |
||
New business |
766.5 |
584.2 |
31.2% |
1,484.3 |
1,301.8 |
14.0% |
||
Service business |
831.8 |
680.8 |
22.2% |
1,630.1 |
1,409.1 |
15.7% |
||
– Aftersales |
423.2 |
338.1 |
25.2% |
841.9 |
721.4 |
16.7% |
||
– Rental business |
243.8 |
220.1 |
10.8% |
479.5 |
446.0 |
7.5% |
||
– Used trucks |
111.6 |
82.7 |
35.0% |
211.3 |
164.6 |
28.4% |
||
– Other |
53.1 |
39.9 |
33.1% |
97.4 |
77.1 |
26.4% |
||
Supply Chain Solutions |
992.5 |
633.1 |
56.8% |
1,849.1 |
1,213.5 |
52.4% |
||
Business solutions |
804.3 |
475.8 |
69.0% |
1,490.0 |
878.7 |
69.6% |
||
Service business |
188.3 |
157.3 |
19.7% |
359.1 |
334.8 |
7.2% |
||
Corporate Services |
1.9 |
1.5 |
29.3% |
4.4 |
3.0 |
48.0% |
||
|
|
|
|
|
|
|
||
Total revenue |
2,592.8 |
1,899.6 |
36.5% |
4,967.9 |
3,927.3 |
26.5% |
||
|
||||||||
Revenue by sales region
in € million |
Q2 |
Q2 |
Change |
Q1 – Q2 |
Q1 – Q2 |
Change |
|---|---|---|---|---|---|---|
EMEA |
1,591.6 |
1,215.9 |
30.9% |
3,100.5 |
2,623.1 |
18.2% |
Western Europe |
1,403.2 |
1,065.9 |
31.6% |
2,746.7 |
2,310.9 |
18.9% |
Eastern Europe |
167.5 |
130.7 |
28.1% |
314.9 |
272.9 |
15.4% |
Middle East and Africa |
21.0 |
19.3 |
9.0% |
38.8 |
39.4 |
–1.4% |
Americas |
705.6 |
445.5 |
58.4% |
1,324.4 |
895.4 |
47.9% |
North America |
659.0 |
412.6 |
59.7% |
1,238.9 |
824.5 |
50.3% |
Central and South America |
46.5 |
32.8 |
41.7% |
85.6 |
70.9 |
20.7% |
APAC |
295.6 |
238.3 |
24.0% |
542.9 |
408.8 |
32.8% |
China |
174.4 |
141.2 |
23.5% |
306.8 |
227.4 |
34.9% |
APAC excluding China |
121.2 |
97.1 |
24.8% |
236.2 |
181.3 |
30.2% |
Total revenue |
2,592.8 |
1,899.6 |
36.5% |
4,967.9 |
3,927.3 |
26.5% |
In the Industrial Trucks & Services segment, a large part of the revenue growth was attributable to the main EMEA sales region. The increase in the second quarter was particularly pronounced in comparison with the low figure reported in the prior-year period. The APAC region recorded a disproportionately strong increase in revenue, primarily thanks to higher unit sales in China. In the Americas region, the segment’s revenue was almost unchanged despite negative currency effects. The Supply Chain Solutions segment increased its revenue significantly in all sales regions, with particularly strong growth recorded in its core market of North America (Americas) and in the EMEA region. The biggest contribution to the rise in revenue resulted from investment in new facilities and in the expansion of existing facilities by major e-commerce customers and customers in the food and textile industries.