Net assets
The condensed consolidated statement of financial position as at June 30, 2024 showing non-current and current assets and liabilities together with equity is presented below:
in € million |
Jun. 30, 2024 |
in % |
Dec. 31, 2023 |
in % |
Change |
||
|---|---|---|---|---|---|---|---|
Non-current assets |
12,543.9 |
70.1% |
12,165.1 |
70.0% |
378.8 |
||
Current assets |
5,346.3 |
29.9% |
5,223.3 |
30.0% |
123.0 |
||
Total assets |
17,890.2 |
100.0% |
17,388.4 |
100.0% |
501.8 |
||
Equity |
5,959.9 |
33.3% |
5,772.7 |
33.2% |
187.2 |
||
Non-current liabilities1 |
6,797.4 |
38.0% |
6,663.9 |
38.3% |
133.6 |
||
Current liabilities1 |
5,132.9 |
28.7% |
4,951.8 |
28.5% |
181.0 |
||
Total equity and liabilities |
17,890.2 |
100.0% |
17,388.4 |
100.0% |
501.8 |
||
|
|||||||
Totaling €12,543.9 million as at June 30, 2024, non-current assets were slightly higher than at the end of 2023 (December 31, 2023: €12,165.1 million). The carrying amount of intangible assets was €5,694.1 million (December 31, 2023: €5,665.0 million). The total carrying amount of the goodwill included in this figure increased to €3,584.0 million (December 31, 2023: €3,558.0 million) due to exchange-rate movements, although these were partly offset by the impairment of goodwill that was carried out in an amount of €22.4 million in the KION ITS Americas Operating Unit. Other property, plant and equipment rose slightly to €1,813.1 million (December 31, 2023: €1,749.9 million). This included right-of-use assets amounting to €629.5 million in relation to procurement leases (December 31, 2023: €589.2 million). Of this figure, €488.4 million was attributable to land and buildings (December 31, 2023: €470.7 million) and €141.1 million to plant & machinery and office furniture & equipment (December 31, 2023: €118.5 million).
The rental assets from the short-term rental business recognized in the statement of financial position increased to €771.8 million as at June 30, 2024 (December 31, 2023: €737.8 million). Leased assets for direct and indirect leases with end customers that are classified as operating leases stood at €1,534.5 million, which was also up slightly compared with the end of 2023 (December 31, 2023: €1,454.9 million). As a result of the growth in new business, non-current lease receivables arising from leases with end customers that are classified as finance leases rose to €1,879.7 million (December 31, 2023: €1,701.9 million).
Current assets went up to a total of €5,346.3 million as at June 30, 2024 (December 31, 2023: €5,223.3 million). This was because inventories were higher, at €1,984.5 million (December 31, 2023: €1,817.1 million), as a result of the increase in work in progress and finished goods and in raw materials and bought-in components over the course of the reporting period. By contrast, there was a moderate decrease in trade receivables to €1,727.0 million (December 31, 2023: €1,755.8 million). Contract assets, which mainly relate to the project business in the Supply Chain Solutions segment, amounted to €368.0 million, which was slightly down on the figure for the end of 2023 (December 31, 2023: €403.3 million).
At €2,029.5 million as at June 30, 2024, the KION Group’s net working capital was close to its level at the end of 2023 (December 31, 2023: €2,009.0 million), with the increase in inventories largely offset by a rise in trade liabilities and a decrease in trade receivables and in contract balances related to project business in the Supply Chain Solutions segment.
Current lease receivables from end customers rose to €665.9 million as at June 30, 2024 as a result of new business growth (December 31, 2023: €612.5 million).
Cash and cash equivalents decreased to €271.6 million as at June 30, 2024 (December 31, 2023: €311.8 million).