Corporate Services segment

Business performance

The Corporate Services segment comprises holding companies and other service companies that provide services such as IT and general administration across all segments.

Revenue and earnings

Total segment revenue, which came to €168.0 million (2020: €157.3 million), again mainly resulted from internal IT services.

The segment’s EBIT came to €292.3 million (2020: €113.0 million). This included positive non-recurring items amounting to income of €18.1 million (2020: expense of €9.8 million) that arose primarily in connection with the intra-group allocation of costs of KION GROUP AG to the subsidiaries in the ITS and SCS segments. As a result, adjusted EBIT for the segment came to €274.2 million (2020: €122.7 million).

Excluding intra-group income from equity investments in the Corporate Services segment, adjusted EBIT was minus €103.4 million (2020: minus €41.7 million). This sharp fall was largely attributable to the costs incurred in the reporting year in connection with groupwide strategic projects. Moreover, higher personnel expenses relating to variable remuneration components helped to push up administrative expenses. Adjusted EBITDA stood at €300.2 million (2020: €152.3 million), or minus €77.3 million (2020: minus €12.3 million) if intra-group income from equity investments is excluded.