Selected notes to the consolidated income statement
Revenue
The following tables show revenue from contracts with customers, broken down by sales region, product category, timing of revenue recognition, and segment.
|
Q2 2023 |
|||
|---|---|---|---|---|
in € million |
Industrial Trucks & Services |
Supply Chain Solutions |
Corporate Services |
Total |
EMEA |
1,721.1 |
161.9 |
0.3 |
1,883.3 |
Western Europe |
1,511.2 |
137.9 |
0.3 |
1,649.3 |
Eastern Europe |
187.2 |
19.6 |
0.0 |
206.9 |
Middle East and Africa |
22.7 |
4.4 |
0.0 |
27.1 |
Americas |
174.0 |
458.7 |
0.0 |
632.7 |
North America |
94.0 |
455.5 |
0.0 |
549.5 |
Central and South America |
80.0 |
3.2 |
0.0 |
83.2 |
APAC |
231.2 |
89.2 |
0.0 |
320.4 |
China |
163.7 |
27.1 |
0.0 |
190.8 |
APAC excluding China |
67.5 |
62.1 |
0.0 |
129.7 |
Total revenue |
2,126.3 |
709.8 |
0.3 |
2,836.4 |
|
|
|
|
|
New business |
1,134.7 |
|
|
1,134.7 |
Service business |
991.6 |
|
|
991.6 |
– Aftersales |
515.3 |
|
|
515.3 |
– Rental business |
285.7 |
|
|
285.7 |
– Used trucks |
116.5 |
|
|
116.5 |
– Other |
74.2 |
|
|
74.2 |
Business solutions |
|
450.1 |
|
450.1 |
Service business |
|
259.7 |
|
259.7 |
Corporate Services |
|
|
0.3 |
0.3 |
Total revenue |
2,126.3 |
709.8 |
0.3 |
2,836.4 |
|
|
|
|
|
Timing of revenue recognition |
|
|
|
|
Products and services transferred at a point in time |
1,675.7 |
115.6 |
0.0 |
1,791.2 |
Products and services transferred over a period of time |
450.6 |
594.2 |
0.3 |
1,045.2 |
|
Q2 2022 |
|||
|---|---|---|---|---|
in € million |
Industrial Trucks & Services |
Supply Chain Solutions |
Corporate Services |
Total |
EMEA |
1,373.2 |
249.7 |
0.6 |
1,623.5 |
Western Europe |
1,189.3 |
227.5 |
0.6 |
1,417.4 |
Eastern Europe |
164.2 |
19.8 |
0.0 |
184.0 |
Middle East and Africa |
19.7 |
2.4 |
0.0 |
22.1 |
Americas |
127.7 |
727.0 |
0.0 |
854.7 |
North America |
66.4 |
716.5 |
0.0 |
782.9 |
Central and South America |
61.3 |
10.5 |
0.0 |
71.8 |
APAC |
228.1 |
95.9 |
0.0 |
324.0 |
China |
165.8 |
25.3 |
0.0 |
191.1 |
APAC excluding China |
62.3 |
70.6 |
0.0 |
132.9 |
Total revenue |
1,729.1 |
1,072.5 |
0.6 |
2,802.2 |
|
|
|
|
|
New business |
825.9 |
|
|
825.9 |
Service business |
903.2 |
|
|
903.2 |
– Aftersales |
472.0 |
|
|
472.0 |
– Rental business |
272.0 |
|
|
272.0 |
– Used trucks |
95.3 |
|
|
95.3 |
– Other |
63.9 |
|
|
63.9 |
Business solutions |
|
831.3 |
|
831.3 |
Service business |
|
241.2 |
|
241.2 |
Corporate Services |
|
|
0.6 |
0.6 |
Total revenue |
1,729.1 |
1,072.5 |
0.6 |
2,802.2 |
|
|
|
|
|
Timing of revenue recognition |
|
|
|
|
Products and services transferred at a point in time |
1,302.6 |
109.5 |
0.0 |
1,412.2 |
Products and services transferred over a period of time |
426.4 |
963.0 |
0.6 |
1,390.0 |
|
Q1 – Q2 2023 |
|||
|---|---|---|---|---|
in € million |
Industrial Trucks & Services |
Supply Chain Solutions |
Corporate Services |
Total |
EMEA |
3,361.3 |
332.3 |
0.7 |
3,694.3 |
Western Europe |
2,935.1 |
279.6 |
0.7 |
3,215.5 |
Eastern Europe |
374.6 |
40.2 |
0.0 |
414.8 |
Middle East and Africa |
51.6 |
12.4 |
0.0 |
64.0 |
Americas |
338.3 |
976.8 |
0.0 |
1,315.0 |
North America |
186.9 |
967.8 |
0.0 |
1,154.7 |
Central and South America |
151.4 |
9.0 |
0.0 |
160.4 |
APAC |
429.6 |
178.5 |
0.0 |
608.1 |
China |
301.2 |
48.3 |
0.0 |
349.5 |
APAC excluding China |
128.4 |
130.2 |
0.0 |
258.6 |
Total revenue |
4,129.1 |
1,487.6 |
0.7 |
5,617.4 |
|
|
|
|
|
New business |
2,147.1 |
|
|
2,147.1 |
Service business |
1,982.0 |
|
|
1,982.0 |
– Aftersales |
1,036.8 |
|
|
1,036.8 |
– Rental business |
570.2 |
|
|
570.2 |
– Used trucks |
235.1 |
|
|
235.1 |
– Other |
139.8 |
|
|
139.8 |
Business solutions |
|
982.2 |
|
982.2 |
Service business |
|
505.4 |
|
505.4 |
Corporate Services |
|
|
0.7 |
0.7 |
Total revenue |
4,129.1 |
1,487.6 |
0.7 |
5,617.4 |
|
|
|
|
|
Timing of revenue recognition |
|
|
|
|
Products and services transferred at a point in time |
3,231.7 |
226.3 |
0.0 |
3,458.1 |
Products and services transferred over a period of time |
897.4 |
1,261.3 |
0.7 |
2,159.4 |
|
Q1 – Q2 2022 |
|||
|---|---|---|---|---|
in € million |
Industrial Trucks & Services |
Supply Chain Solutions |
Corporate Services |
Total |
EMEA |
2,771.8 |
488.5 |
1.1 |
3,261.4 |
Western Europe |
2,409.3 |
443.5 |
1.1 |
2,853.9 |
Eastern Europe |
324.1 |
38.7 |
0.0 |
362.8 |
Middle East and Africa |
38.4 |
6.3 |
0.0 |
44.6 |
Americas |
236.6 |
1,422.1 |
0.0 |
1,658.7 |
North America |
128.2 |
1,401.3 |
0.0 |
1,529.5 |
Central and South America |
108.4 |
20.8 |
0.0 |
129.1 |
APAC |
437.0 |
179.6 |
0.0 |
616.6 |
China |
314.3 |
41.6 |
0.0 |
356.0 |
APAC excluding China |
122.7 |
138.0 |
0.0 |
260.7 |
Total revenue |
3,445.3 |
2,090.2 |
1.1 |
5,536.7 |
|
|
|
|
|
New business |
1,646.1 |
|
|
1,646.1 |
Service business |
1,799.2 |
|
|
1,799.2 |
– Aftersales |
940.9 |
|
|
940.9 |
– Rental business |
537.8 |
|
|
537.8 |
– Used trucks |
197.9 |
|
|
197.9 |
– Other |
122.6 |
|
|
122.6 |
Business solutions |
|
1,644.8 |
|
1,644.8 |
Service business |
|
445.4 |
|
445.4 |
Corporate Services |
|
|
1.1 |
1.1 |
Total revenue |
3,445.3 |
2,090.2 |
1.1 |
5,536.7 |
|
|
|
|
|
Timing of revenue recognition |
|
|
|
|
Products and services transferred at a point in time |
2,601.2 |
194.0 |
0.0 |
2,795.2 |
Products and services transferred over a period of time |
844.1 |
1,896.2 |
1.1 |
2,741.4 |
Net financial expenses
In the first six months of 2023, the net financial expenses, representing the balance of financial income and financial expenses, increased by a substantial €66.4 million to €76.5 million (H1 2022: expenses of €10.1 million).
Of this amount, €25.4 million was attributable to interest expense on loan liabilities, promissory notes, and bonds (H1 2022: €11.4 million) and €6.5 million to interest expense under the commercial paper program (H1 2022: €0.1 million).
Interest income from the lease business totaling €46.6 million (H1 2022: €37.3 million) related to the interest portion of lease payments in which KION Group entities operate as lessors (in the case of leases classified as finance leases). Leases agreed by the KION Group with end customers are usually based on fixed interest rates. Interest expense from the lease and short-term rental business amounting to €68.6 million (H1 2022: €25.9 million) arose predominantly from variable-rate liabilities used to finance the lease and short-term rental business. Gains of €16.5 million were realized in the reporting period on interest-rate derivatives used for hedging purposes (H1 2022: loss of €2.4 million). In addition, changes to the fair value of these interest-rate derivatives and adjustments to the valuation of lease receivables designated as part of a fair value hedge made a positive contribution of €1.1 million to net financial expenses (H1 2022: positive contribution of €16.6 million).
Interest expense on procurement leases amounted to €10.0 million (H1 2022: €7.3 million).
The net loss in respect of the retirement benefit obligation and similar obligations amounted to €12.2 million in the first six months of this year (H1 2022: net loss of €6.6 million).
Exchange differences had an aggregate adverse impact on net financial expenses of €13.0 million (H1 2022: €9.4 million).
Income taxes
Income taxes for the current reporting period are recognized on the basis of the expected income tax rate for the full year.