2026
2025
2024

Segment report

The KPIs used to manage the Industrial Trucks & Services and Intelligent Automation Solutions segments are revenue and adjusted EBIT. Segment reporting therefore includes a reconciliation of externally reported consolidated earnings before interest and tax (EBIT) – including effects from purchase price allocations and non-recurring items – to the adjusted EBIT for the segments (‘adjusted EBIT’).

The following tables show information on the segments for the third quarter of 2026 and 2025 and for the first three quarters of 2026 and 2025.

Segment information Q3 2026

in € million

 

Industrial
Trucks & Services

 

Intelligent Automation Solutions

 

Corporate Services

 

Consolidation

 

Total

Revenue from external customers

 

1,950.9

 

883.7

 

0.0

 

–

 

2,834.7

Intersegment revenue

 

4.1

 

6.4

 

75.4

 

−86.0

 

–

Total revenue

 

1,955.0

 

890.2

 

75.4

 

−86.0

 

2,834.7

Cost of sales

 

−1,421.9

 

−719.4

 

−74.8

 

85.9

 

−2,130.2

Earnings before tax

 

131.9

 

38.3

 

−18.5

 

−1.9

 

149.8

Net financial expenses/income

 

−33.0

 

−7.5

 

6.2

 

–

 

−34.4

EBIT

 

164.9

 

45.8

 

−24.6

 

−1.9

 

184.2

+ Non-recurring items

 

−3.1

 

0.5

 

0.2

 

–

 

−2.4

+ PPA items

 

1.3

 

19.8

 

–

 

–

 

21.1

= Adjusted EBIT

 

163.1

 

66.1

 

−24.4

 

−1.9

 

202.9

Capital expenditure1

 

55.3

 

28.2

 

12.2

 

–

 

95.7

Amortization and depreciation2

 

57.8

 

19.3

 

6.7

 

–

 

83.9

Order intake

 

1,915.0

 

750.8

 

75.4

 

−90.2

 

2,651.0

1

Capital expenditure in property, plant and equipment and intangible assets, including capitalized development costs

2

On intangible assets and property, plant and equipment (excluding right-of-use assets and PPA items)
Segment information Q3 2025

in € million

 

Industrial
Trucks & Services

 

Intelligent Automation Solutions

 

Corporate Services

 

Consolidation

 

Total

Revenue from external customers

 

1,940.6

 

763.1

 

0.3

 

–

 

2,704.0

Intersegment revenue

 

3.6

 

5.4

 

74.5

 

−83.5

 

–

Total revenue

 

1,944.2

 

768.5

 

74.8

 

−83.5

 

2,704.0

Cost of sales1

 

−1,423.1

 

−620.9

 

−69.3

 

83.9

 

−2,029.4

Earnings before tax2

 

165.0

 

1.9

 

16.8

 

−41.6

 

142.1

Net financial expenses/income2

 

−36.4

 

−8.2

 

9.0

 

–

 

−35.6

EBIT2

 

201.4

 

10.1

 

7.8

 

−41.6

 

177.7

+ Non-recurring items

 

−31.7

 

17.3

 

6.0

 

–

 

−8.4

+ PPA items

 

0.9

 

20.2

 

–

 

–

 

21.1

= Adjusted EBIT2

 

170.6

 

47.6

 

13.8

 

−41.6

 

190.5

Capital expenditure3

 

57.8

 

21.8

 

11.5

 

–

 

91.0

Amortization and depreciation4

 

52.3

 

16.5

 

6.5

 

–

 

75.2

Order intake

 

1,941.9

 

740.1

 

74.8

 

−80.9

 

2,675.9

1

The criteria for the allocation of costs to functional areas were revised with effect from Jan. 1, 2026. The figures for the prior-year period have been restated accordingly in order to provide better comparability

2

The prior-year figures for the Industrial Trucks & Services segment, Corporate Services and the consolidation column were adjusted following a change in segment allocation effective Jan. 1, 2026

3

Capital expenditure in property, plant and equipment and intangible assets, including capitalized development costs

4

On intangible assets and property, plant and equipment (excluding right-of-use assets and PPA items)
Segment information Q1 – Q3 2026

in € million

 

Industrial
Trucks & Services

 

Intelligent Automation Solutions

 

Corporate Services

 

Consolidation

 

Total

Revenue from external customers

 

6,023.3

 

2,498.3

 

0.3

 

–

 

8,522.0

Intersegment revenue

 

10.9

 

21.0

 

227.0

 

−258.9

 

–

Total revenue

 

6,034.2

 

2,519.3

 

227.3

 

−258.9

 

8,522.0

Cost of sales

 

−4,376.4

 

−2,036.4

 

−224.1

 

258.9

 

−6,378.0

Earnings before tax

 

425.9

 

93.7

 

−50.6

 

−1.8

 

467.2

Net financial expenses/income

 

−102.4

 

−19.3

 

18.0

 

–

 

−103.7

EBIT

 

528.3

 

113.0

 

−68.6

 

−1.8

 

570.9

+ Non-recurring items

 

−3.5

 

−0.1

 

2.0

 

–

 

−1.6

+ PPA items

 

3.9

 

59.2

 

–

 

–

 

63.2

= Adjusted EBIT

 

528.7

 

172.2

 

−66.5

 

−1.8

 

632.5

Segment assets

 

15,362.3

 

5,435.7

 

4,772.5

 

−6,289.0

 

19,281.5

Segment liabilities

 

12,753.2

 

2,865.0

 

3,390.9

 

−6,290.4

 

12,718.7

Capital expenditure1

 

139.9

 

78.1

 

31.2

 

–

 

249.2

Amortization and depreciation2

 

165.3

 

54.2

 

19.7

 

–

 

239.2

Order intake

 

5,897.5

 

2,575.3

 

227.3

 

−255.0

 

8,445.0

Order book

 

2,079.5

 

2,829.5

 

–

 

−24.8

 

4,884.3

Number of employees3

 

30,858

 

10,825

 

1,334

 

–

 

43,017

1

Capital expenditure in property, plant and equipment and intangible assets, including capitalized development costs

2

On intangible assets and property, plant and equipment (excluding right-of-use assets and PPA items)

3

Number of employees (full-time equivalents; incl. apprentices; excl. inactive employees) as at Sep. 30, 2026; allocation according to the contractual relationships
Segment information Q1 – Q3 2025

in € million

 

Industrial
Trucks & Services

 

Intelligent Automation Solutions

 

Corporate Services

 

Consolidation

 

Total

Revenue from external customers

 

6,066.5

 

2,133.0

 

0.9

 

–

 

8,200.4

Intersegment revenue

 

12.9

 

21.3

 

223.6

 

−257.8

 

–

Total revenue

 

6,079.4

 

2,154.3

 

224.5

 

−257.8

 

8,200.4

Cost of sales1

 

−4,499.0

 

−1,704.0

 

−213.8

 

257.1

 

−6,159.6

Earnings before tax2

 

269.3

 

36.5

 

−44.3

 

−47.5

 

213.9

Net financial expenses/income2

 

−114.7

 

−15.7

 

19.4

 

–

 

−111.0

EBIT2

 

384.1

 

52.1

 

−63.7

 

−47.5

 

325.0

+ Non-recurring items

 

142.7

 

11.3

 

31.2

 

–

 

185.2

+ PPA items

 

2.7

 

62.5

 

–

 

–

 

65.2

= Adjusted EBIT2

 

529.5

 

126.0

 

−32.5

 

−47.5

 

575.4

Segment assets2

 

14,451.1

 

5,320.2

 

4,045.0

 

−5,668.1

 

18,148.1

Segment liabilities2

 

12,129.3

 

2,797.3

 

2,860.9

 

−5,673.1

 

12,114.5

Capital expenditure3

 

159.4

 

73.5

 

31.3

 

–

 

264.2

Amortization and depreciation4

 

153.1

 

39.0

 

19.3

 

–

 

211.3

Order intake

 

5,970.1

 

2,941.2

 

224.5

 

−253.9

 

8,882.0

Order book

 

2,038.9

 

2,936.0

 

–

 

−30.8

 

4,944.1

Number of employees5

 

30,895

 

9,987

 

1,420

 

–

 

42,302

1

The criteria for the allocation of costs to functional areas were revised with effect from Jan. 1, 2026. The figures for the prior-year period have been restated accordingly in order to provide better comparability

2

The prior-year figures for the Industrial Trucks & Services segment, Corporate Services and the consolidation column were adjusted following a change in segment allocation effective Jan. 1, 2026

3

Capital expenditure in property, plant and equipment and intangible assets, including capitalized development costs

4

On intangible assets and property, plant and equipment (excluding right-of-use assets and PPA items)

5

Number of employees (full-time equivalents; incl. apprentices; excl. inactive employees) as at Sep. 30, 2025; allocation according to the contractual relationships

Frankfurt am Main, October 28, 2026

The Executive Board

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