Supply Chain Solutions segment
Business performance and order intake
In the second quarter of 2018, customers awarded a high number of new orders to Dematic, causing the volume of orders to jump by €874.2 million. As a result, order intake in the Supply Chain Solutions segment increased by 39.0 per cent compared with the first half of 2017 to reach €1,270.4 million (H1 2017: €913.6 million). This figure includes negative currency effects of €98.9 million that were mainly due to the US dollar being weaker on average during the six-month period.
Revenue
The segment’s total revenue declined slightly to €1,049.5 million (H1 2017: €1,081.4 million) owing to negative currency effects of €91.8 million and delays in the awarding of projects by customers during recent quarters. Revenue from project business (business solutions) accounted for 76.7 per cent of total revenue; the remaining 23.3 per cent was attributable to the service business. The proportion of revenue generated in North America was up significantly year on year at 69.7 per cent (H1 2017: 54.8 per cent).
Earnings
The US dollar also had a negative impact on adjusted EBIT, in the amount of €12.5 million. Moreover, the delays in the awarding of projects by customers in recent quarters led to underutilisation of project-related personnel capacity. Overall, the adjusted EBIT of €86.5 million was below the figure for the prior-year period of €98.6 million; excluding currency effects the adjusted EBIT was at prior year’s level. The adjusted EBIT margin was 8.2 per cent (H1 2017: 9.1 per cent). Including non-recurring items and purchase price allocation effects, EBIT came to €21.3 million and thereby exceeded the figure for the first half of 2017 of minus €1.1 million. Adjusted EBITDA of €110.1 million (H1 2017: €121.0 million) resulted in an adjusted EBITDA margin of 10.5 per cent (H1 2017: 11.2 per cent). > TABLE 09
Key figures – Supply Chain Solutions |
09 |
|||||||
in € million |
Q2 2018 |
Q2 2017* |
Change |
Q1 – Q2 2018 |
Q1 – Q2 2017* |
Change |
||
|
||||||||
Order intake |
874.2 |
452.3 |
93.3% |
1,270.4 |
913.6 |
39.0% |
||
Total revenue |
578.8 |
599.8 |
–3.5% |
1,049.5 |
1,081.4 |
–3.0% |
||
EBITDA |
63.3 |
68.2 |
–7.2% |
109.0 |
112.5 |
–3.1% |
||
Adjusted EBITDA |
64.0 |
71.3 |
–10.3% |
110.1 |
121.0 |
–9.0% |
||
EBIT |
19.4 |
16.2 |
19.5% |
21.3 |
–1.1 |
> 100% |
||
Adjusted EBIT |
51.5 |
64.1 |
–19.7% |
86.5 |
98.6 |
–12.3% |
||
|
|
|
|
|
|
|
||
Adjusted EBITDA margin |
11.1% |
11.9% |
– |
10.5% |
11.2% |
– |
||
Adjusted EBIT margin |
8.9% |
10.7% |
– |
8.2% |
9.1% |
– |
||