Net assets

Non-current assets declined by €130.4 million from their level at 31 December 2017 to €9,720.1 million at the end of the reporting period. Intangible assets accounted for €5,617.4 million (31 December 2017: €5,716.5 million). The decline in goodwill to €3,335.7 million as at 31 March 2018 (31 December 2017: €3,382.5 million) was primarily attributable to the effect of the weaker US dollar. Other property, plant and equipment, which stood at €998.8 million (31 December 2017: €994.9 million), includes a figure of €350.3 million for right-of-use assets related to procurement leases (31 December 2017: €347.4 million).

Rental assets increased to €625.1 million (31 December 2017: €608.4 million), reflecting the continued expansion of the rental fleet business. Leased assets for direct and indirect leases with end customers that are classified as operating leases decreased slightly to €1,221.8 million (31 December 2017: €1,246.3 million). Long-term lease receivables arising from leases with end customers that are classified as finance leases amounted to €651.6 million (31 December 2017: €647.8 million).

Overall, current assets increased to €2,761.2 million (31 December 2017: €2,487.1 million), primarily because of the sharp rise in inventories in the Industrial Trucks & Services segment. Trade receivables went up to €1,022.2 million (31 December 2017: €999.4 million). The KION Group’s net working capital, which comprises inventories, trade receivables and contract assets less trade payables and contract liabilities, advanced to €732.5 million as at 31 March 2018 (31 December 2017: €619.9 million).

Cash and cash equivalents amounted to €220.2 million at the reporting date (31 December 2017: €173.2 million). > TABLE 10