Revenue
Consolidated revenue edged up year on year by 1.7 percent to €2,781.0 million (Q1 2022: €2,734.5 million), with uneven revenue growth across the two operating segments. In the Industrial Trucks & Services segment, revenue generated from external customers in the first three months of 2023 jumped year on year by 16.7 percent to €2,002.8 million (Q1 2022: €1,716.3 million). This revenue growth was attributable to increased production output and to the further reduction of the inventories of unfinished trucks for which only individual components were missing, a result of the improving supply chain situation. Because the progress made in working through the sizeable order book meant it was possible to bring newer orders forward, the price rises that had been phased in during the prior year began to boost revenue growth earlier than expected, particularly in the EMEA region. Revenue in the service business advanced thanks to further growth in the volume of the aftersales and rental businesses.
In the Supply Chain Solutions segment, revenue generated from external customers amounted to €777.8 million, which was 23.6 percent lower than the prior-year figure (Q1 2022: €1,017.7 million). The decrease in orders in the project business (business solutions) and delays in the awarding of projects by customers were the main factors in this sharp decline. By contrast, revenue in the service business (customer services) continued to be very encouraging and was up significantly on the prior-year period.
Overall, the proportion of consolidated revenue attributable to the service business stood at 44.4 percent (Q1 2022: 40.2 percent).
in € million |
Q1 |
Q1 |
Change |
|---|---|---|---|
Industrial Trucks & Services |
2,002.8 |
1,716.3 |
16.7% |
New business |
1,012.5 |
820.3 |
23.4% |
Service business |
990.4 |
896.0 |
10.5% |
– Aftersales |
521.5 |
468.9 |
11.2% |
– Rental business |
284.5 |
265.8 |
7.1% |
– Used trucks |
118.7 |
102.6 |
15.6% |
– Other |
65.7 |
58.7 |
11.8% |
Supply Chain Solutions |
777.8 |
1,017.7 |
–23.6% |
Business solutions |
532.1 |
813.5 |
–34.6% |
Service business |
245.7 |
204.2 |
20.3% |
Corporate Services |
0.4 |
0.5 |
–32.4% |
|
|
|
|
Total revenue |
2,781.0 |
2,734.5 |
1.7% |
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. Revenue increased sharply in the Americas region, but declined in the APAC region.
In the Supply Chain Solutions segment, the fall in revenue related mainly to a downturn in business in North America. Revenue lagged behind the prior-year level in the EMEA region as well, whereas it increased in the APAC region.
in € million |
Q1 |
Q1 |
Change |
|---|---|---|---|
EMEA |
1,810.9 |
1,637.9 |
10.6% |
Western Europe |
1,566.1 |
1,436.6 |
9.0% |
Eastern Europe |
208.0 |
178.8 |
16.3% |
Middle East and Africa |
36.8 |
22.6 |
63.3% |
Americas |
682.4 |
803.9 |
–15.1% |
North America |
605.2 |
746.6 |
–18.9% |
Central and South America |
77.2 |
57.3 |
34.6% |
APAC |
287.7 |
292.6 |
–1.7% |
China |
158.8 |
164.9 |
–3.7% |
APAC excluding China |
128.9 |
127.7 |
1.0% |
Total revenue |
2,781.0 |
2,734.5 |
1.7% |