Related party disclosures
In addition to its relationship with 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 and 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, 2023.
Weichai Power Co., Ltd., Weifang, People’s Republic of China, indirectly held a 46.5 percent stake in KION GROUP AG via Weichai Power (Luxembourg) Holding S.à r.l., Luxembourg (‘Weichai Power’, direct parent company) as at June 30, 2024 (December 31, 2023: 46.5 percent) and, in the assessment of the Executive Board of KION GROUP AG on the basis of IFRS as adopted by the EU, is the ultimate parent company.
The revenue that the KION Group generated in the second quarter of 2024 and in the first half of 2024 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.
|
Receivables |
Sales of goods and services |
||||||
|---|---|---|---|---|---|---|---|---|
in € million |
Jun. 30, |
Dec. 31, |
Q2 |
Q2 |
Q1 – Q2 |
Q1 – Q2 |
||
Non-consolidated subsidiaries |
12.7 |
17.1 |
4.2 |
7.3 |
8.0 |
13.5 |
||
Associates1 (equity-accounted) |
42.3 |
48.8 |
45.6 |
48.6 |
103.9 |
94.8 |
||
Joint ventures (equity-accounted) |
13.2 |
11.5 |
7.0 |
13.2 |
13.3 |
21.1 |
||
Other related parties1 |
8.5 |
8.0 |
11.4 |
7.2 |
17.3 |
15.6 |
||
Total |
76.7 |
85.4 |
68.1 |
76.3 |
142.6 |
144.9 |
||
|
||||||||
The goods and services obtained from related parties in the second quarter of 2024 and in the first half of 2024 are shown in the following table along with the liabilities that were outstanding at the reporting date.
|
Liabilities |
Purchases of goods and services |
||||||
|---|---|---|---|---|---|---|---|---|
in € million |
Jun. 30, |
Dec. 31, |
Q2 |
Q2 |
Q1 – Q2 |
Q1 – Q2 |
||
Non-consolidated subsidiaries |
11.8 |
15.1 |
9.3 |
11.2 |
18.8 |
23.1 |
||
Associates1 (equity-accounted) |
12.7 |
7.5 |
29.9 |
32.8 |
62.8 |
62.4 |
||
Joint ventures (equity-accounted) |
96.9 |
99.8 |
31.4 |
31.9 |
64.1 |
63.1 |
||
Other related parties1 |
4.9 |
4.6 |
0.1 |
– |
0.2 |
0.3 |
||
Total |
126.3 |
127.0 |
70.6 |
75.9 |
145.9 |
149.0 |
||
|
||||||||
In addition, the distribution of a dividend of €0.70 per share for the 2023 financial year (dividend for the 2022 financial year: €0.19 per share) to Weichai Power resulted in a pro rata outflow of funds from KION GROUP AG of €42.7 million in the first half of 2024 (H1 2023: outflow of €11.6 million).