Net assets

Non-current assets amounted to €10,316.3 million as at 31 March 2019 and thus changed only marginally compared with the end of last year (31 December 2018: €10,150.6 million). Intangible assets accounted for €5,779.9 million of total non-current assets (31 December 2018: €5,721.6 million). At €3,474.7 million, the goodwill included in this figure was close to the value as at 31 December 2018 (€3,424.8 million). Other property, plant and equipment stood at €1,089.3 million (31 December 2018: €1,077.8 million) and included a figure of €390.5 million for right-of-use assets related to procurement leases (31 December 2018: €390.7 million). Right-of-use assets amounted to €275.9 million for land and buildings (31 December 2018: €276.4 million) and €114.6 million for plant & machinery and office furniture & equipment (31 December 2018: €114.3 million).

Rental assets also held steady, standing at €665.6 million at the end of the first quarter (31 December 2018: €670.5 million). Leased assets for direct and indirect leases with end customers that are classified as operating leases increased slightly to reach €1,283.6 million (31 December 2018: €1,261.8 million). Long-term lease receivables arising from leases with end customers that are classified as finance leases amounted to €877.8 million (31 December 2018: €826.2 million).

Overall, current assets increased to €3,070.6 million (31 December 2018: €2,818.2 million), primarily because of the reporting date-related rise in inventories in the Industrial Trucks & Services segment. However, trade receivables went up only moderately, reaching €1,080.1 million (31 December 2018: €1,036.4 million). The KION Group’s net working capital, which comprises inventories, contract assets and trade receivables less contract liabilities and trade payables, rose to €773.4 million as at 31 March 2019 (31 December 2018: €676.1 million).

Cash and cash equivalents amounted to €164.0 million as at 31 March 2019 (31 December 2018: €175.3 million). > TABLE 10