Basis of presentation

General information on the Company

KION GROUP AG, whose registered office is at Thea-Rasche-Strasse 8, 60549 Frankfurt am Main, Germany, is registered at the Frankfurt am Main local court under reference HRB 112163.

On July 25, 2023, the condensed consolidated interim financial statements and the interim group management report were prepared and approved for publication by the Executive Board of KION GROUP AG.

Basis of preparation

The condensed consolidated interim financial statements of the KION Group for the six months ended June 30, 2023 have been prepared in line with International Accounting Standard (IAS) 34 ‘Interim Financial Reporting’ and other International Financial Reporting Standards (IFRSs) as adopted by the European Union in accordance with Regulation (EC) No. 1606/2002 of the European Parliament and of the Council concerning the application of international accounting standards for interim financial statements.

All of the IFRSs and the related interpretations (IFRICs/SICs) of the IFRS Interpretations Committee (IFRS IC) that had been issued by the reporting date and were required to be applied have been applied in preparing these condensed consolidated interim financial statements. The application of financial reporting standards that became mandatory for the first time in 2023 had no significant effect on the presentation of the financial position and financial performance of the KION Group. These condensed consolidated interim financial statements do not contain all the information and disclosures required of a set of consolidated annual financial statements and should therefore be read in conjunction with the consolidated financial statements prepared for the year ended December 31, 2022.

The reporting currency is the euro. All amounts are disclosed in millions of euros (€ million) unless stated otherwise. Due to rounding effects, addition of the individual amounts shown may result in minor rounding differences to the totals. The percentages shown are calculated on the basis of the respective amounts, rounded to the nearest thousand euros.

Basis of consolidation

A total of 25 German (December 31, 2022: 27) and 109 foreign (December 31, 2022: 109) subsidiaries were fully consolidated in addition to KION GROUP AG as at June 30, 2023.

In addition, seven associates (December 31, 2022: seven) and three joint ventures (December 31, 2022: three) were consolidated and accounted for using the equity method.

As at June 30, 2023, 48 (December 31, 2022: 53) companies were recognized at amortized cost or at fair value through other comprehensive income.

Accounting policies

These condensed consolidated interim financial statements are based on the interim financial statements of the parent company KION GROUP AG and its consolidated subsidiaries prepared in accordance with the standard accounting policies applicable throughout the KION Group. The material accounting policies used in these condensed consolidated interim financial statements, as well as the judgments and estimates, are the same as those used for the year ended December 31, 2022.