Related party disclosures

In addition to the subsidiaries included in the condensed consolidated interim financial statements, the KION Group has direct or indirect business relationships with a number of non-consolidated subsidiaries, joint ventures and associates in the course of its ordinary business activities.

The related parties that are solely or jointly controlled by the KION Group or over which significant influence can be exercised are included in the list of shareholdings as at 31 December 2017.

Another related party is Weichai Power Co. Ltd., Weifang, China, which indirectly held a 43.3 per cent stake in KION GROUP AG as at 30 June 2018 (31 December 2017: 43.3 per cent). Since 2017, it has therefore had a majority at the Annual General Meeting and can exercise control over the KION Group. The distribution of a dividend of €0.99 per share to Weichai Power resulted in an outflow of funds from KION GROUP AG of €50.6 million.

The revenue generated by the KION Group in the first half of 2018 and second quarter of 2018 from selling goods and services to related parties is shown in > TABLE 44 along with the receivables that were outstanding at the reporting date. The receivables include a loan that the KION Group has granted to Linde Hydraulics GmbH & Co. KG, Aschaffenburg. The commitment totals €9.3 million. This resulted in a loan receivable for the KION Group of €8.0 million as at 30 June 2018 (31 December 2017: €8.0 million); it has a variable interest rate. No valuation allowances for receivables from related parties had been recognised as at the reporting date, a situation that was unchanged on 31 December 2017.

The goods and services obtained from related parties in the first half of 2018 and second quarter of 2018 are shown in > TABLE 45 along with the liabilities that were outstanding at the reporting date.

The exemption for government-related entities was applied. There were no transactions that were significant, either individually or taken together, between the KION Group and companies with which the KION Group is closely associated solely because of its relationship with Shandong Heavy Industry Group Co., Ltd., Jinan, People’s Republic of China.