Revenue
As expected, consolidated revenue fell in the first nine months of 2025, decreasing by 2.8 percent year on year to €8,200.4 million (Q1–Q3 2024: €8,435.3 million).
In the Industrial Trucks & Services segment, revenue generated from external customers declined by 3.6 percent to €6,066.5 million (Q1–Q3 2024: €6,295.7 million). This was due to a fall in revenue from new business as a result of the smaller order book at the start of 2025. The order book has now normalized, having been exceptionally strong in previous years. The decline was partly offset by a rise in revenue in the service business.
In the Supply Chain Solutions segment, revenue generated from external customers came to €2,133.0 million in the first three quarters of 2025, which was roughly in line with the figure for the prior-year period (Q1–Q3 2024: €2,137.0 million). Revenue in the project business (business solutions) declined due to a deterioration in the first half of the year following a low level of orders on hand in the prior year. Conversely, the segment’s service business (customer services) registered solid revenue growth.
The proportion of consolidated revenue attributable to the service business grew to 49.5 percent overall (Q1–Q3 2024: 46.4 percent).
in € million |
Q3 |
Q3 |
Change |
Q1 – Q3 |
Q1 – Q3 |
Change |
|---|---|---|---|---|---|---|
Industrial Trucks & Services |
1,940.6 |
1,994.9 |
–2.7% |
6,066.5 |
6,295.7 |
–3.6% |
New business |
913.2 |
998.6 |
–8.6% |
2,956.1 |
3,271.7 |
–9.6% |
Service business |
1,027.4 |
996.3 |
3.1% |
3,110.3 |
3,024.1 |
2.9% |
– Aftersales |
542.6 |
529.7 |
2.4% |
1,626.3 |
1,601.1 |
1.6% |
– Rental business |
307.4 |
300.7 |
2.2% |
909.2 |
889.6 |
2.2% |
– Used trucks |
116.1 |
106.4 |
9.1% |
368.5 |
345.0 |
6.8% |
– Other |
61.3 |
59.5 |
3.1% |
206.4 |
188.3 |
9.6% |
Supply Chain Solutions |
763.1 |
703.3 |
8.5% |
2,133.0 |
2,137.0 |
–0.2% |
Business solutions |
441.8 |
381.5 |
15.8% |
1,187.8 |
1,249.8 |
–5.0% |
Service business |
321.3 |
321.8 |
–0.1% |
945.2 |
887.2 |
6.5% |
Corporate Services |
0.3 |
1.0 |
–67.1% |
0.9 |
2.6 |
–65.0% |
|
|
|
|
|
|
|
Total revenue |
2,704.0 |
2,699.2 |
0.2% |
8,200.4 |
8,435.3 |
–2.8% |