Supply Chain Solutions segment
Business performance and level of orders
Order intake in the Supply Chain Solutions segment improved by a substantial 17.8 percent to €755.7 million in the first quarter of 2025 (Q1 2024: €641.6 million). The driving force behind this increase was the very robust growth in service business (customer services), which comprises modernizations, expansions, maintenance, and spare parts, and continually benefits from the expanding pool of completed customer installations. Order intake in the project business (business solutions) was virtually unchanged year on year in the reporting period.
As at March 31, 2025, the value of the order book in the Supply Chain Solutions segment stood at €2,375.0 million (Q1 2024: €2,423.8 million).
in € million |
Q1 |
Q1 |
Change |
||
|---|---|---|---|---|---|
Total revenue |
687.7 |
718.9 |
–4.3% |
||
EBITDA |
54.1 |
43.8 |
23.3% |
||
Adjusted EBITDA |
55.3 |
38.1 |
45.1% |
||
EBIT |
13.0 |
2.2 |
> 100% |
||
Adjusted EBIT |
36.4 |
18.4 |
98.0% |
||
|
|
|
|
||
Adjusted EBITDA margin |
8.0% |
5.3% |
– |
||
Adjusted EBIT margin |
5.3% |
2.6% |
– |
||
|
|
|
|
||
Order intake |
755.7 |
641.6 |
17.8% |
||
Order book1 |
2,375.0 |
2,423.8 |
–2.0% |
||
|
|||||
Revenue
The total revenue of the Supply Chain Solutions segment fell by 4.3 percent to €687.7 million in the first quarter of 2025 (Q1 2024: €718.9 million) due to the poor level of orders in the project business (business solutions) in previous quarters. This was partly offset by significant revenue growth in the service business (customer services). The proportion of the segment’s revenue from external customers accounted for by the service business increased to 46.9 percent as a result (Q1 2024: 39.2 percent).
Further details concerning revenue generated from external customers in the Supply Chain Solutions segment can be found in the table ‘Revenue from third parties by product category’.
Earnings
The Supply Chain Solutions segment improved its performance significantly, achieving adjusted EBIT of €36.4 million in the first quarter of 2025 compared with €18.4 million in the same quarter of 2024. As a result, the adjusted EBIT margin increased to 5.3 percent (Q1 2024: 2.6 percent). The main drivers for the marked rise in profitability were the significant contribution to earnings made by the high-margin service business, and a solid project execution..
After taking into account non-recurring items and purchase price allocation effects, the segment’s EBIT amounted to €13.0 million (Q1 2024: €2.2 million).
Adjusted EBITDA improved to €55.3 million (Q1 2024: €38.1 million), representing an adjusted EBITDA margin of 8.0 percent (Q1 2024: 5.3 percent).