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