Net assets
Non-current assets had increased to €4,835.3 million as at 31 March 2016 (31 December 2015: €4,810.3 million). Intangible assets accounted for €2,486.1 million (31 December 2015: €2,452.5 million). Goodwill and the KION Group’s brand names represented €2,183.2 million of that amount (31 December 2015: €2,152.2 million). This increase compared with 31 December 2015 was mainly attributable to the acquisition of Retrotech Inc.
At €544.5 million, rental assets in the brand segments’ short-term rental fleet were on a par with the figure reported at the end of last year (31 December 2015: €544.0 million). Due to the overall growth in business, leased assets for leases with end customers that are classified as operating leases increased to €352.8 million (31 December 2015: €334.4 million). Long-term lease receivables arising from leases with end customers that are classified as finance leases advanced to €472.4 million (31 December 2015: €472.0 million).
Current assets rose to €1,761.2 million (31 December 2015: €1,629.9 million). This was partly due to the seasonal rise in inventories. At €186.4 million, short-term lease receivables from end customers were slightly higher than at the end of last year (31 December 2015: €181.7 million).
Cash and cash equivalents totalled €96.6 million at the end of the quarter (31 December 2015: €103.1 million). Taking into account the unused credit facility, the cash and cash equivalents available to the KION Group at 31 March 2016 amounted to €930.9 million. > TABLE 15
(Condensed) statement of financial position – Assets |
15 |
||||
in € million |
31/03/2016 |
in % |
31/12/2015 |
in % |
Change |
Non-current assets |
4,835.3 |
73.3% |
4,810.3 |
74.7% |
0.5% |
thereof: |
|
|
|
|
|
Goodwill |
1,579.6 |
23.9% |
1,548.1 |
24.0% |
2.0% |
Brand names |
603.6 |
9.1% |
604.1 |
9.4% |
–0.1% |
Deferred tax assets |
357.8 |
5.4% |
349.0 |
5.4% |
2.5% |
Rental assets |
544.5 |
8.3% |
544.0 |
8.4% |
0.1% |
Leased assets |
352.8 |
5.3% |
334.4 |
5.2% |
5.5% |
Lease receivables |
472.4 |
7.2% |
472.0 |
7.3% |
0.1% |
|
|
|
|
|
|
Current assets |
1,761.2 |
26.7% |
1,629.9 |
25.3% |
8.1% |
thereof: |
|
|
|
|
|
Inventories |
637.7 |
9.7% |
553.5 |
8.6% |
15.2% |
Trade receivables |
692.6 |
10.5% |
670.5 |
10.4% |
3.3% |
Lease receivables |
186.4 |
2.8% |
181.7 |
2.8% |
2.6% |
Other current financial assets |
67.2 |
1.0% |
58.4 |
0.9% |
14.9% |
Cash and cash equivalents |
96.6 |
1.5% |
103.1 |
1.6% |
–6.2% |
|
|
|
|
|
|
Total assets |
6,596.6 |
– |
6,440.2 |
– |
2.4% |