Revenue

Consolidated revenue amounted to €5,536.7 million, a year-on-year rise of 11.4 percent (H1 2021: €4,967.9 million). In the Industrial Trucks & Services segment, revenue generated from external customers went up by 10.6 percent to €3,445.3 million (H1 2021: €3,114.4 million). However, growth dropped off slightly in the second quarter of 2022. Shortages in the supply of bought-in parts, especially in the EMEA region, led to further delays in the delivery of new trucks in the second quarter. As had also been the case in the previous quarter, the increase in revenue was largely attributable to the order book built up in 2021. The aftersales and rental businesses within the service business also made a substantial contribution to revenue growth. The substantial delays to deliveries mean that the interim price increases have not yet had any influence on the revenue generated by the Industrial Trucks & Services segment. The price increases will only be reflected in the revenue of KION ITS EMEA once the segment has worked through the orders received in 2021.

In the Supply Chain Solutions segment, revenue from external customers rose by 13.0 percent to €2,090.2 million (H1 2021: €1,849.1 million). Working through the sizeable order book that had built up by the end of 2021 contributed to the increase in revenue in the long-term project business (business solutions). This was despite the delays to projects resulting from supply chain disruptions. The service business (customer services) made a disproportionately strong contribution to the segment’s revenue growth.

Overall, the proportion of consolidated revenue attributable to the service business increased to 40.5 percent (H1 2021: 40.0 percent).

Consolidated revenue included positive currency effects totaling €190.7 million.

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 period. The Americas and APAC regions both generated growth that was well above average.

The increase in revenue in the Supply Chain Solutions segment was attributable to higher revenue in the core North America market. Despite the shortages of materials, the segment was able to continue with ongoing customer projects, primarily in the e-commerce, grocery, and general merchandise sectors. Revenue was down year on year in the EMEA region, but up sharply in the APAC region.