Supply Chain Solutions segment
Business performance and order intake
Order intake in the Supply Chain Solutions segment exceeded the high figure reported in the prior-year period, improving by 7.2 percent to €1,868.8 million in the first half of 2021 (H1 2020: €1,743.9 million). The project business (business solutions) benefited from the continued strength of e-commerce and a sharp rise in project orders from the food and textile sectors. The service business also registered a substantial increase. Currency effects reduced order intake by a total of €74.1 million.
in € million |
Q2 |
Q2 |
Change |
Q1 – Q2 |
Q1 – Q2 |
Change |
||
|---|---|---|---|---|---|---|---|---|
Order intake |
1,038.9 |
1,057.6 |
–1.8% |
1,868.8 |
1,743.9 |
7.2% |
||
Total revenue |
996.5 |
634.6 |
57.0% |
1,857.2 |
1,215.8 |
52.8% |
||
Order book1 |
|
|
|
3,150.3 |
3,071.1 |
2.6% |
||
EBITDA |
139.9 |
70.2 |
99.3% |
256.6 |
143.1 |
79.2% |
||
Adjusted EBITDA |
141.5 |
70.2 |
> 100% |
259.5 |
144.2 |
80.0% |
||
EBIT |
103.6 |
31.0 |
> 100% |
184.1 |
66.7 |
> 100% |
||
Adjusted EBIT |
125.5 |
53.4 |
> 100% |
227.3 |
112.1 |
> 100% |
||
|
|
|
|
|
|
|
||
Adjusted EBITDA margin |
14.2% |
11.1% |
– |
14.0% |
11.9% |
– |
||
Adjusted EBIT margin |
12.6% |
8.4% |
– |
12.2% |
9.2% |
– |
||
|
||||||||
Revenue
The total revenue of the Supply Chain Solutions segment surged by 52.8 percent to €1,857.2 million (H1 2020: €1,215.8 million), primarily as a result of working through the project orders received in 2020 plus a consistently high level of capacity utilization. The increase in revenue was largely accounted for by the long-term project business (business solutions), in which revenue went up by 69.6 percent. Having seen a slight decrease in revenue in the first quarter as a result of exchange-rate effects, the service business (customer services) generated a year-on-year rise in revenue of 7.2 percent in the first half of 2021. The proportion of the segment’s external revenue accounted for by the service business fell to 19.4 percent (H1 2020: 27.6 percent). Currency effects reduced segment revenue by €100.4 million.
Earnings
The adjusted EBIT of the Supply Chain Solutions segment for the six-month period amounted to €227.3 million, which was double the figure for the first half of 2020 of €112.1 million. The disproportionately strong growth in the project business (business solutions) made a bigger contribution to gross profit than the high-margin service business. This effect was outweighed by the relatively small growth in other functional costs. The adjusted EBIT margin improved to 12.2 percent overall (H1 2020: 9.2 percent). After taking into account non-recurring items and purchase price allocation effects, EBIT came to €184.1 million (H1 2020: €66.7 million).
Adjusted EBITDA amounted to €259.5 million (H1 2020: €144.2 million); the adjusted EBITDA margin rose to 14.0 percent (H1 2020: 11.9 percent).