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, associates, joint ventures, and other related parties 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 December 31, 2019.

Another related party is Weichai Power Co., Ltd., Weifang, People’s Republic of China, which indirectly held a 45.2 percent stake in KION GROUP AG via Weichai Power (Luxembourg) Holding S.à r.l., Luxembourg (‘Weichai Power’) as at September 30, 2020 (December 31, 2019: 45.0 percent). The distribution of a dividend of €0.04 per share (2019: €1.20 per share) to Weichai Power resulted in an outflow of funds from KION GROUP AG of €2.1 million (2019: €63.8 million).

The revenue that the KION Group generated in the third quarter of 2020 and in the first to third quarters of 2020 from selling goods and services to related parties is shown in the following table along with the receivables that were outstanding at the reporting date.

The goods and services obtained from related parties in the third quarter of 2020 and in the first to third quarters of 2020 are shown in the following table 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.