Industrial Trucks & Services segment
Business performance and order intake
The Operating Units in the Industrial Trucks & Services segment saw orders for new trucks go up by a total of 13.8 per cent to 147.7 thousand units in the first nine months of 2017. Growth rates were in the double digits across the regions and product categories. Measured by the number of units ordered, 62.0 per cent of the new business was accounted for by the Linde brand including Fenwick, 31.0 per cent by the STILL brand including OM STILL and the remaining 7.0 per cent by the brands Baoli and OM Voltas. The total value of order intake rose by 9.2 per cent to €4,279.9 million (Q1 – Q3 2016: €3,919.4 million). > TABLE 07
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Key figures – Industrial Trucks & Services – |
07 |
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|
in € million |
Q3 2017 |
Q3 2016 |
Change |
Q1 – Q3 2017 |
Q1 – Q3 2016 |
Change |
|
Order intake |
1,351.6 |
1,284.2 |
5.2% |
4,279.9 |
3,919.4 |
9.2% |
|
Total revenue |
1,329.9 |
1,252.0 |
6.2% |
4,070.1 |
3,760.7 |
8.2% |
|
EBITDA |
255.9 |
236.3 |
8.3% |
751.5 |
684.0 |
9.9% |
|
Adjusted EBITDA |
256.6 |
236.2 |
8.6% |
752.2 |
685.5 |
9.7% |
|
EBIT |
151.6 |
136.7 |
11.0% |
447.0 |
388.3 |
15.1% |
|
Adjusted EBIT |
152.5 |
143.7 |
6.1% |
448.3 |
411.5 |
8.9% |
|
|
|
|
|
|
|
|
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Adjusted EBITDA margin |
19.3% |
18.9% |
– |
18.5% |
18.2% |
– |
|
Adjusted EBIT margin |
11.5% |
11.5% |
– |
11.0% |
10.9% |
– |
Revenue
The total revenue of the Industrial Trucks & Services segment advanced to €4,070.1 million, an increase of 8.2 per cent compared with the first nine months of last year (Q1 – Q3 2016: €3,760.7 million). The main factor here was the strong growth in the new trucks business in western Europe, which was up by 9.4 per cent. By far the biggest share of this increase in revenue was attributable to electric forklift trucks and warehouse trucks. The aftersales business and rental business were the primary contributors to the 6.8 per cent revenue gain in the service business. At 45.0 per cent, the proportion of the segment’s external revenue accounted for by the service business was on a par with the prior year (Q1 – Q3 2016: 45.6 per cent).
Earnings
The growth in revenue meant that adjusted EBIT, at €448.3 million, was 8.9 per cent higher than in the prior-year period despite negative currency effects related to pound sterling (Q1 – Q3 2016: €411.5 million). Despite the increase in the price of materials, the segment’s adjusted EBIT margin rose by 0.1 per cent year on year to reach 11.0 per cent. EBIT, taking into account non-recurring items and purchase price allocation effects, stood at €447.0 million (Q1 – Q3 2016: €388.3 million).
Adjusted EBITDA stood at €752.2 million (Q1 – Q3 2016: €685.5 million). This equated to an adjusted EBITDA margin of 18.5 per cent (Q1 – Q3 2016: 18.2 per cent).