Net assets

Non-current assets amounted to €4,440.5 million as at 30 June 2014, virtually unchanged on the end of the previous year (31 December 2013: €4,435.8 million). Intangible assets accounted for €2,421.7 million (31 December 2013: €2,428.7 million). Goodwill and the KION Group’s brand names represented €2,088.9 million of that, which was also almost unchanged on the end of the previous year (31 December 2013: €2,089.4 million). Leased assets for leases with end customers that are classified as operating leases rose only slightly, from €251.9 million at 31 December 2013 to €259.9 million at 30 June 2014. Long-term lease receivables arising from leases with end customers that are classified as finance leases were largely unchanged on the end of the previous year at €308.4 million (31 December 2013: €308.8 million). There was a slight increase in the rental assets in the brand segments’ short-term rental fleet, which stood at €477.2 million (31 December 2013: €461.2 million).

The rise in current assets to €1,667.3 million (31 December 2013: €1,590.7 million) was primarily the result of increased inventories and trade receivables, which more than offset the decline in cash and cash equivalents. There was a small rise in short-term lease receivables with end customers, which stood at €182.2 million at the end of the reporting period (31 December 2013: €170.8 million).

Besides the dividends paid (€34.5 million), better utilisation of intra-group cash on hand outside Germany aimed at reducing bank liabilities led to a sharp decline in cash and cash equivalents, which fell to €134.9 million (31 December 2013: €219.3 million). Taking into account the loan facility that was still available, the cash and cash equivalents available to the KION Group at 30 June 2014 amounted to €683.8 million. >> TABLE 15

(Condensed) balance sheet, assets

>>TABLE 15

in € million

30/06/2014

in %

31/12/2013

in %

Change

 

 

 

 

 

 

Non-current assets

4,440.5

72.7%

4,435.8

73.6%

0.1%

thereof:

 

 

 

 

 

Goodwill

1,494.4

24.5%

1,494.7

24.8%

–0.0%

Brand names

594.5

9.7%

594.7

9.9%

–0.0%

Deferred tax assets

311.3

5.1%

295.5

4.9%

5.4%

Rental assets

477.2

7.8%

461.2

7.7%

3.5%

Leased assets

259.9

4.3%

251.9

4.2%

3.2%

Lease receivables

308.4

5.0%

308.8

5.1%

–0.1%

 

 

 

 

 

 

Current assets

1,667.3

27.3%

1,590.7

26.4%

4.8%

thereof:

 

 

 

 

 

Inventories

581.9

9.5%

511.8

8.5%

13.7%

Trade receivables

599.3

9.8%

558.7

9.3%

7.3%

Lease receivables

182.2

3.0%

170.8

2.8%

6.7%

Other current assets

157.6

2.6%

114.7

1.9%

37.5%

Cash

134.9

2.2%

219.3

3.6%

–38.5%

 

 

 

 

 

 

Total assets

6,107.8

 

6,026.4

 

1.4%