Revenue
Consolidated revenue increased slightly, from €5,536.7 million in the first half of 2022 to €5,617.4 million in the reporting period (up by 1.5 percent). Revenue generated from external customers in the Industrial Trucks & Services segment grew by 19.8 percent to €4,129.1 million (H1 2022: €3,445.3 million) as a result of higher production output. As the processing of orders received in the previous year was accelerated, the price rises that had been phased in during 2022 began to boost revenue growth earlier than expected, particularly in the EMEA region. Revenue from service business rose on the back of high new business volumes.
In the Supply Chain Solutions segment, external revenue fell by 28.8 percent to €1,487.6 million (H1 2022: €2,090.2 million). This was primarily due to muted customer demand in the project business (business solutions) in previous quarters. By contrast, revenue in the service business (customer services) was very encouraging and increased significantly compared with the prior-year period.
Overall, the proportion of consolidated revenue attributable to the service business stood at 44.3 percent (H1 2022: 40.5 percent).
in € million |
Q2 |
Q2 |
Change |
Q1 – Q2 |
Q1 – Q2 |
Change |
|---|---|---|---|---|---|---|
Industrial Trucks & Services |
2,126.3 |
1,729.1 |
23.0% |
4,129.1 |
3,445.3 |
19.8% |
New business |
1,134.7 |
825.9 |
37.4% |
2,147.1 |
1,646.1 |
30.4% |
Service business |
991.6 |
903.2 |
9.8% |
1,982.0 |
1,799.2 |
10.2% |
– Aftersales |
515.3 |
472.0 |
9.2% |
1,036.8 |
940.9 |
10.2% |
– Rental business |
285.7 |
272.0 |
5.0% |
570.2 |
537.8 |
6.0% |
– Used trucks |
116.5 |
95.3 |
22.2% |
235.1 |
197.9 |
18.8% |
– Other |
74.2 |
63.9 |
16.1% |
139.8 |
122.6 |
14.1% |
Supply Chain Solutions |
709.8 |
1,072.5 |
–33.8% |
1,487.6 |
2,090.2 |
–28.8% |
Business solutions |
450.1 |
831.3 |
–45.9% |
982.2 |
1,644.8 |
–40.3% |
Service business |
259.7 |
241.2 |
7.6% |
505.4 |
445.4 |
13.5% |
Corporate Services |
0.3 |
0.6 |
–43.1% |
0.7 |
1.1 |
–38.0% |
|
|
|
|
|
|
|
Total revenue |
2,836.4 |
2,802.2 |
1.2% |
5,617.4 |
5,536.7 |
1.5% |
Revenue by sales region
In the Industrial Trucks & Services segment, the lion’s share of revenue growth by volume in the reporting period was generated in the EMEA sales region. Revenue in the Americas region also increased robustly in percentage terms, while revenue in the APAC region was roughly on a par with the prior-year period.
The fall in revenue in the Supply Chain Solutions segment in the first half of 2023 was primarily attributable to a downturn in business in its North American core market. Revenue lagged behind the prior-year level in the EMEA region as well, but remained stable in the APAC region.
in € million |
Q2 |
Q2 |
Change |
Q1 – Q2 |
Q1 – Q2 |
Change |
|---|---|---|---|---|---|---|
EMEA |
1,883.3 |
1,623.5 |
16.0% |
3,694.3 |
3,261.4 |
13.3% |
Western Europe |
1,649.3 |
1,417.4 |
16.4% |
3,215.5 |
2,853.9 |
12.7% |
Eastern Europe |
206.9 |
184.0 |
12.4% |
414.8 |
362.8 |
14.3% |
Middle East and Africa |
27.1 |
22.1 |
22.9% |
64.0 |
44.6 |
43.3% |
Americas |
632.7 |
854.7 |
–26.0% |
1,315.0 |
1,658.7 |
–20.7% |
North America |
549.5 |
782.9 |
–29.8% |
1,154.7 |
1,529.5 |
–24.5% |
Central and South America |
83.2 |
71.8 |
15.8% |
160.4 |
129.1 |
24.2% |
APAC |
320.4 |
324.0 |
–1.1% |
608.1 |
616.6 |
–1.4% |
China |
190.8 |
191.1 |
–0.2% |
349.5 |
356.0 |
–1.8% |
APAC excluding China |
129.7 |
132.9 |
–2.5% |
258.6 |
260.7 |
–0.8% |
Total revenue |
2,836.4 |
2,802.2 |
1.2% |
5,617.4 |
5,536.7 |
1.5% |