Net assets
Non-current assets had changed only insignificantly compared with the end of 2013 and stood at €4,422.8 million (31 December 2013: €4,435.8 million). Intangible assets accounted for €2,421.1 million (31 December 2013: €2,428.7 million). Goodwill and the KION Group’s brand names represented €2,091.9 million of that amount (31 December 2013: €2,089.4 million). Leased assets under leases with end customers that are classified as operating leases rose slightly, from €251.9 million at 31 December 2013 to €269.2 million at 30 September 2014. Long-term lease receivables arising from leases with end customers that are classified as finance leases were slightly higher than at the end of the previous year at €317.0 million (31 December 2013: €308.8 million). There was also a small increase in the rental assets in the brand segments’ short-term rental fleet, which stood at €477.8 million (31 December 2013: €461.2 million).
The growth in current assets to €1,733.5 million (31 December 2013: €1,590.7 million) was primarily the result of increased inventories and trade receivables. There was also a rise in short-term lease receivables from end customers, which reached €189.2 million at the end of the reporting period (31 December 2013: €170.8 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 in the third quarter, which fell by €88.5 million to €130.8 million (31 December 2013: €219.3 million). Taking into account the credit facility that was still available, the cash and cash equivalents available to the KION Group at 30 September 2014 amounted to €741.7 million. >> Table 15
(Condensed) balance sheet, assets |
>>TABLE 15 |
||||
in € million |
30/09/2014 |
in % |
31/12/2013 |
in % |
Change |
|
|
|
|
|
|
Non-current assets |
4,422.8 |
71.8% |
4,435.8 |
73.6% |
–0.3% |
thereof: |
|
|
|
|
|
Goodwill |
1,496.7 |
24.3% |
1,494.7 |
24.8% |
0.1% |
Brand names |
595.2 |
9.7% |
594.7 |
9.9% |
0.1% |
Deferred tax assets |
313.0 |
5.1% |
295.5 |
4.9% |
5.9% |
Rental assets |
477.8 |
7.8% |
461.2 |
7.7% |
3.6% |
Leased assets |
269.2 |
4.4% |
251.9 |
4.2% |
6.9% |
Lease receivables |
317.0 |
5.1% |
308.8 |
5.1% |
2.7% |
|
|
|
|
|
|
Current assets |
1,733.5 |
28.2% |
1,590.7 |
26.4% |
9.0% |
thereof: |
|
|
|
|
|
Inventories |
619.9 |
10.1% |
511.8 |
8.5% |
21.1% |
Trade receivables |
616.2 |
10.0% |
558.7 |
9.3% |
10.3% |
Lease receivables |
189.2 |
3.1% |
170.8 |
2.8% |
10.8% |
Other current assets |
167.4 |
2.7% |
114.7 |
1.9% |
46.0% |
Cash |
130.8 |
2.1% |
219.3 |
3.6% |
–40.4% |
|
|
|
|
|
|
Total assets |
6,156.3 |
|
6,026.4 |
|
2.2% |