Net assets
Non-current assets rose to €10,596.0 million as at 30 September 2019 (31 December 2018: €10,150.6 million). The total carrying amount of intangible assets was €5,812.8 million (31 December 2018: €5,721.6 million). The goodwill included in this figure increased slightly due to currency effects, reaching €3,507.6 million (31 December 2018: €3,424.8 million). Other property, plant and equipment stood at €1,124.8 million (31 December 2018: €1,077.8 million) and included a figure of €403.3 million for right-of-use assets related to procurement leases (31 December 2018: €390.7 million). Right-of-use assets amounted to €280.8 million for land and buildings (31 December 2018: €276.4 million) and €122.5 million for plant & machinery and office furniture & equipment (31 December 2018: €114.3 million).
The short-term rental fleet was largely stable in the reporting period. Rental assets stood at €638.2 million as at 30 September 2019, which was slightly less than at the end of last year (31 December 2018: €670.5 million). Leased assets for direct and indirect leases with end customers that are classified as operating leases increased to €1,313.2 million (31 December 2018: €1,261.8 million). Long-term lease receivables arising from leases with end customers that are classified as finance leases also rose, amounting to €1,009.1 million as at 30 September 2019 (31 December 2018: €826.2 million).
Overall, current assets swelled to €3,184.1 million (31 December 2018: €2,818.2 million). This was primarily because of the growth of inventories during the year, which stood at €1,173.1 million as at the reporting date (31 December 2018: €994.8 million). This growth was attributable to the Industrial Trucks & Services segment. Furthermore, trade receivables increased to €1,101.9 million (31 December 2018: €1,036.4 million). Contract assets mainly related to project business in the Supply Chain Solutions segment and, at €182.5 million, were also higher than at the end of last year (31 December 2018: €119.3 million).
The KION Group’s net working capital rose to €1,146.5 million as at 30 September 2019 (31 December 2018: €676.1 million). This was due to the volume-related increase in inventories and trade receivables and the incremental fulfilment of customer orders in the project business over their scheduled period. Cash and cash equivalents declined from €175.3 million as at 31 December 2018 to €144.3 million as at 30 September 2019. > TABLE 10
in € million |
30/09/2019 |
in % |
31/12/2018 |
in % |
Change |
|||||
Non-current assets |
10,596.0 |
76.9% |
10,150.6 |
78.3% |
4.4% |
|||||
Current assets |
3,184.1 |
23.1% |
2,818.2 |
21.7% |
13.0% |
|||||
Total assets |
13,780.1 |
– |
12,968.8 |
– |
6.3% |
|||||
Equity |
3,396.7 |
24.6% |
3,305.1 |
25.5% |
2.8% |
|||||
Non-current liabilities |
6,309.8 |
45.8% |
5,999.1 |
46.3% |
5.2% |
|||||
Current liabilities |
4,073.6 |
29.6% |
3,664.6 |
28.3% |
11.2% |
|||||
Total equity and liabilities |
13,780.1 |
– |
12,968.8 |
– |
6.3% |