Revenue

Consolidated revenue totaled €8,243.0 million in the first nine months of 2022, exceeding the figure for the prior-year period (€7,533.7 million) by 9.4 percent. In the third quarter, revenue grew at a rate of 5.5 per cent. In the Industrial Trucks & Services segment, revenue generated from external customers went up by 11.4 percent to €5,282.3 million in the reporting period (Q1–Q3 2021: €4,742.4 million). As a result of longer delivery times for new business, the revenue growth was largely attributable to orders that had been placed in 2021. Consequently, the in-year dynamic price increases for industrial trucks did not yet have any noticeable influence on the revenue of the Industrial Trucks & Services segment. The high number of industrial trucks shipped just before the end of the third quarter of 2022 resulted in a significant year-on-year rise in revenue from new business in the third quarter. The service business also made a substantial contribution to the increase in revenue, primarily thanks to growing aftersales and rental business.

In the Supply Chain Solutions segment, revenue from external customers rose by 6.3 percent to €2,959.2 million (Q1–Q3 2021: €2,783.5 million). Working through the sizeable order book that had built up by the end of 2021 contributed to the increase in this segment’s revenue from long-term project business (business solutions). There was an exceptionally strong increase in revenue in the service business (customer services).

Overall, the proportion of consolidated revenue attributable to the service business stood at 41.7 percent (Q1–Q3 2021: 40.2 percent).

Consolidated revenue included positive currency effects totaling €311.1 million.

Revenue by sales region

In the Industrial Trucks & Services segment, the biggest contribution to revenue growth in terms of volume came from the main EMEA sales region in the reporting period. The Americas and APAC regions both generated growth that was well above average.

The increase in revenue in the Supply Chain Solutions segment was attributable to higher revenue in North America. Despite the shortages of materials, the segment was able to continue with ongoing customer projects, primarily in the e-commerce, grocery, and general merchandise sectors. Revenue was down significantly year on year in the EMEA region, but up sharply in the APAC region.