[51] Events after the reporting date

On February 1, 2021, the remaining 79.0 percent of the shares in the German dealer Hans Joachim Jetschke Industriefahrzeuge (GmbH & Co.) KG and in the general partner JETSCHKE GmbH, both headquartered in Hamburg, were acquired. The other 21.0 percent of the share capital and voting rights in Hans Joachim Jetschke Industriefahrzeuge (GmbH & Co.) KG and JETSCHKE GmbH were already held by Linde Material Handling GmbH prior to the acquisition of the shares on February 1, 2021. The purchase consideration for the net assets acquired was €13.9 million. The acquisition of Hans Joachim Jetschke Industriefahrzeuge (GmbH & Co.) KG will enable the KION Group to further strengthen the position of its Linde brand and Linde’s sales and service network in Germany. The company is a wholesaler and service provider that specializes in intralogistics equipment, electric and diesel trucks, warehouse trucks, container handlers, heavy-goods handlers, sideloaders, and sweepers.

The incidental acquisition costs incurred in connection with this business combination amounted to €0.1 million and have been recognized as an expense for the current period and reported as administrative expenses in the consolidated income statement. The transaction is not recognized in the 2020 annual report. The operating profit and assets and liabilities of Hans Joachim Jetschke Industriefahrzeuge (GmbH & Co.) KG will be recognized from February 1, 2021. The provisional figures as at the acquisition date are as follows:

Impact of the acquisition of Hans Joachim Jetschke Industriefahrzeuge (GmbH & Co.) KG

in € million

Fair value at the acquisition date



Customer relationships


Other intangible assets


Rental/Leased assets


Lease receivables


Trade receivables


Other assets


Total assets




Financial liabilities


Liabilities from lease business


Liabilities from short-term rental business


Other liabilities


Total liabilities




Total net assets




Cash payment


Consideration transferred


Previously held share of equity (21.0 per cent in Hans Joachim Jetschke Industriefahrzeuge (GmbH & Co.) KG, Hamburg)




As the transaction took place well after the reporting date, and because of the complexity of the business model and the scope of the detailed information required for the measurement, it was not possible to complete the analysis of the acquired assets and liabilities by the time the consolidated financial statements were published. The purchase price allocation for the acquisition described above is provisional as at March 1, 2021 with regard to the recognition and measurement of the net assets acquired at fair value.

If the business combination had been completed by January 1, 2020, this would have increased the revenue of around €53 million reported by the KION Group in 2020.