Revenue

Consolidated revenue went up by 8.2 percent to €11,135.6 million (2021: €10,294.3 million), which included positive currency effects totaling €406.3 million. This jump in revenue was the result of working through the sizeable order book built up in 2021 and the good performance of the service business.

In the Industrial Trucks & Services segment, revenue generated from external customers grew by 12.9 percent to €7,344.2 million in 2022 (2021: €6,503.5 million). Shortages in the supply of bought-in parts – especially in the EMEA region – led to significant delays in the delivery of new trucks, particularly in the first six months of the year. However, the steps taken enabled the segment to greatly reduce the high volume of unfinished trucks that had built up – due to the unavailability of individual components caused by supply chain disruptions – and it had shipped a large number of trucks by the end of the year. Because revenue was predominantly generated by working through the orders on the books from the previous year, the price increases implemented during the year did not yet have much of an impact on segment revenue. The service business made a substantial contribution to the increase in revenue, primarily thanks to growing aftersales and rental business.

In the Supply Chain Solutions segment, revenue generated from external customers was influenced by positive currency effects and edged up by 0.2 percent year on year to €3,789.4 million (2021: €3,780.3 million). Revenue from business solutions was held back by project delays and an increase in the overall project costs expected. By contrast, revenue in the service business (customer services) rose sharply.

Overall, the proportion of consolidated revenue attributable to the service business increased to 42.1 percent (2021: 40.5 percent).

Revenue by sales region

In the Industrial Trucks & Services segment, the biggest contribution to revenue growth in terms of volume came from the main EMEA sales region in the reporting year. The volume of revenue also rose in the APAC region, while the Americas region recorded an exceptionally strong increase.

North America made a particularly strong contribution to the rise in revenue in the Supply Chain Solutions segment. Revenue was down significantly year on year in the EMEA region but up sharply in the APAC region (excluding China). Despite the shortages of materials, the segment was able to continue with ongoing customer projects, primarily in the e-commerce, general merchandise, and grocery sectors.