Supply Chain Solutions segment
Business performance and order intake
The value of order intake in the Supply Chain Solutions segment amounted to €1,865.2 million in the first half of 2022 and was thus only just short of the figure for the prior-year period (H1 2021: €1,868.8 million). The orders placed primarily related to investment in new facilities and in the expansion of existing facilities in the e-commerce, general merchandise, and grocery sectors. In contrast to the prior-year period, orders from new customers from a range of industries helped to further diversify the customer portfolio. Order intake in the reporting period stemmed from stable demand in the long-term project business (business solutions), both in the core North America region and elsewhere. In addition, there were further sharp rises in order intake in the higher-margin service business compared with the first half of 2021. Currency effects boosted order intake by a total of €123.3 million.
in € million |
Q2 |
Q2 |
Change |
Q1 – Q2 |
Q1 – Q2 |
Change |
||
|---|---|---|---|---|---|---|---|---|
Order intake |
1,022.0 |
1,038.9 |
–1.6% |
1,865.2 |
1,868.8 |
–0.2% |
||
Total revenue |
1,076.2 |
996.5 |
8.0% |
2,096.0 |
1,857.2 |
12.9% |
||
Order book1 |
|
|
|
3,762.3 |
3,792.2 |
–0.8% |
||
EBITDA |
94.2 |
139.9 |
–32.7% |
186.7 |
256.6 |
–27.2% |
||
Adjusted EBITDA |
94.8 |
141.5 |
–33.0% |
187.4 |
259.5 |
–27.8% |
||
EBIT |
52.7 |
103.6 |
–49.1% |
104.9 |
184.1 |
–43.0% |
||
Adjusted EBIT |
75.8 |
125.5 |
–39.6% |
149.8 |
227.3 |
–34.1% |
||
|
|
|
|
|
|
|
||
Adjusted EBITDA margin |
8.8% |
14.2% |
– |
8.9% |
14.0% |
– |
||
Adjusted EBIT margin |
7.0% |
12.6% |
– |
7.1% |
12.2% |
– |
||
|
||||||||
Revenue
The total revenue of the Supply Chain Solutions segment grew by 12.9 percent year on year to €2,096.0 million (H1 2021: €1,857.2 million). Despite the shortages of materials caused by supply chain disruptions, the segment was able to continue with ongoing customer projects, particularly in the e-commerce, grocery, and general merchandise sectors. This contributed to a 10.4 percent increase in revenue from the long-term project business. The jump in revenue in the service business was mainly due to modernization work, upgrades, and the supply of spare parts. The proportion of the segment’s external revenue attributable to the service business thus rose by 1.9 percentage points to 21.3 percent. Currency effects increased segment revenue by €142.0 million.
Earnings
The adjusted EBIT of the Supply Chain Solutions segment was down sharply year on year at €149.8 million (H1 2021: €227.3 million). The main reasons for this were higher material prices and growing inefficiencies resulting from bottlenecks in the supply of bought-in parts. Consequently, the adjusted EBIT margin declined to 7.1 percent (H1 2021: 12.2 percent). After taking into account non-recurring items and purchase price allocation effects, EBIT came to €104.9 million (H1 2021: €184.1 million).
Adjusted EBITDA amounted to €187.4 million (H1 2021: €259.5 million); the adjusted EBITDA margin fell to 8.9 percent (H1 2021: 14.0 percent).