Revenue
Consolidated revenue amounted to €8,347.3 million in the first three quarters of 2023, a small year-on-year rise of 1.3 percent (Q1–Q3 2022: €8,243.0 million). Revenue generated from external customers in the Industrial Trucks & Services segment grew by 16.4 percent to €6,149.3 million (Q1–Q3 2022: €5,282.3 million) as a result of higher production output. As the processing of orders on hand was accelerated, the price rises that had been implemented in 2022 provided a noticeable boost to revenue, particularly in the EMEA region. Revenue from the service business went up as a result of growing volumes across all service categories.
In the Supply Chain Solutions segment, revenue generated from external customers contracted by 25.8 percent to €2,197.0 million (Q1–Q3 2022: €2,959.2 million). This fall in revenue was mainly due to muted customer demand in the project business (business solutions) in the preceding quarters. Moreover, the projects secured in the reporting period were predominantly of a long-term nature, the revenue from which will be recognized over an extended period. By contrast, the consistent and higher-margin service business (customer services) registered a rise in revenue.
Overall, the proportion of consolidated revenue attributable to the service business stood at 44.6 percent (Q1–Q3 2022: 41.7 percent).
in € million |
Q3 |
Q3 |
Change |
Q1 – Q3 |
Q1 – Q3 |
Change |
|---|---|---|---|---|---|---|
Industrial Trucks & Services |
2,020.2 |
1,836.9 |
10.0% |
6,149.3 |
5,282.3 |
16.4% |
New business |
1,042.4 |
905.2 |
15.2% |
3,189.5 |
2,551.3 |
25.0% |
Service business |
977.8 |
931.8 |
4.9% |
2,959.8 |
2,730.9 |
8.4% |
– Aftersales |
512.5 |
484.5 |
5.8% |
1,549.3 |
1,425.3 |
8.7% |
– Rental business |
293.3 |
280.6 |
4.5% |
863.5 |
818.4 |
5.5% |
– Used trucks |
107.3 |
105.8 |
1.4% |
342.4 |
303.8 |
12.7% |
– Other |
64.7 |
60.8 |
6.4% |
204.5 |
183.4 |
11.5% |
Supply Chain Solutions |
709.4 |
869.0 |
–18.4% |
2,197.0 |
2,959.2 |
–25.8% |
Business solutions |
448.8 |
608.4 |
–26.2% |
1,431.0 |
2,253.2 |
–36.5% |
Service business |
260.6 |
260.6 |
0.0% |
766.0 |
706.1 |
8.5% |
Corporate Services |
0.2 |
0.4 |
–37.7% |
0.9 |
1.5 |
–37.9% |
|
|
|
|
|
|
|
Total revenue |
2,729.9 |
2,706.4 |
0.9% |
8,347.3 |
8,243.0 |
1.3% |
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. There was again a large rise in revenue in the Americas region, whereas the APAC region registered a moderate year-on-year decline in revenue.
The sharp fall in revenue in the Supply Chain Solutions segment in the first three quarters of 2023 was attributable to a reduction in the volume of business in the segment’s core market of North America. Revenue in the EMEA region was also down significantly year on year, while the APAC region was unable to match the strong revenue growth that it had seen in the prior-year period.
in € million |
Q3 |
Q3 |
Change |
Q1 – Q3 |
Q1 – Q3 |
Change |
|---|---|---|---|---|---|---|
EMEA |
1,825.3 |
1,641.3 |
11.2% |
5,519.6 |
4,902.7 |
12.6% |
Western Europe |
1,591.6 |
1,419.1 |
12.2% |
4,807.0 |
4,273.1 |
12.5% |
Eastern Europe |
205.3 |
184.6 |
11.2% |
620.1 |
547.4 |
13.3% |
Middle East and Africa |
28.5 |
37.6 |
–24.1% |
92.5 |
82.2 |
12.5% |
Americas |
602.6 |
703.2 |
–14.3% |
1,917.7 |
2,361.8 |
–18.8% |
North America |
521.8 |
626.3 |
–16.7% |
1,676.4 |
2,155.8 |
–22.2% |
Central and South America |
80.9 |
76.9 |
5.2% |
241.2 |
206.0 |
17.1% |
APAC |
301.9 |
361.8 |
–16.6% |
910.0 |
978.5 |
–7.0% |
China |
177.4 |
210.2 |
–15.6% |
526.9 |
566.2 |
–6.9% |
APAC excluding China |
124.5 |
151.6 |
–17.9% |
383.1 |
412.3 |
–7.1% |
Total revenue |
2,729.9 |
2,706.4 |
0.9% |
8,347.3 |
8,243.0 |
1.3% |