Net assets
Non-current assets rose by €91.8 million from their level as at 31 December 2017 to €9,942.4 million as at 30 September 2018. Intangible assets accounted for a total of €5,708.2 million (31 December 2017: €5,716.5 million). As a result of currency effects, goodwill was up slightly at €3,412.6 million (31 December 2017: €3,382.5 million). Other property, plant and equipment stood at €1,013.1 million (31 December 2017: €994.9 million) and included a figure of €357.7 million for right-of-use assets related to procurement leases (31 December 2017: €347.4 million). Right-of-use assets amounted to €250.6 million for land and buildings (31 December 2017: €247.6 million) and €107.1 million for plant, machinery, and office furniture and equipment (31 December 2017: €99.8 million).
Leased assets for direct and indirect leases with end customers that are classified as operating leases decreased to €1,207.5 million (31 December 2017: €1,246.3 million). However, further expansion of the rental fleet business caused rental assets to increase to €644.3 million (31 December 2017: €608.4 million). At €732.9 million, long-term lease receivables arising from leases with end customers that are classified as finance leases were higher than at the end of last year (31 December 2017: €647.8 million).
Current assets rose sharply to €2,941.6 million (31 December 2017: €2,487.1 million). This was primarily due to the increase in inventories in the Industrial Trucks & Services segment, which mainly occurred in the first half of the year. The KION Group’s total inventories went up by €295.3 million to €1,063.9 million (31 December 2017: €768.6 million).
The KION Group’s net working capital, which comprises inventories, trade receivables and contract assets less trade payables and contract liabilities, rose to €843.3 million as at 30 September 2018 (31 December 2017: €619.9 million) but was almost unchanged compared with 30 June 2018. Cash and cash equivalents totalled €165.2 million at the end of the nine-month period (31 December 2017: €173.2 million). > TABLE 10
(Condensed) statement of financial position |
10 |
||||||
in € million |
30/09/2018 |
in % |
31/12/2017* |
in % |
Change |
||
|
|||||||
Non-current assets |
9,942.4 |
77.2% |
9,850.6 |
79.8% |
0.9% |
||
Current assets |
2,941.6 |
22.8% |
2,487.1 |
20.2% |
18.3% |
||
Total assets |
12,883.9 |
– |
12,337.7 |
– |
4.4% |
||
Equity |
3,152.5 |
24.5% |
2,992.3 |
24.3% |
5.4% |
||
Non-current liabilities |
6,121.0 |
47.5% |
6,133.7 |
49.7% |
–0.2% |
||
Current liabilities |
3,610.4 |
28.0% |
3,211.7 |
26.0% |
12.4% |
||
Total equity and liabilities |
12,883.9 |
– |
12,337.7 |
– |
4.4% |
||