Basis of presentation

Basis of preparation

The condensed consolidated interim financial statements of the KION Group for the six months ended June 30, 2025 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 2025 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, 2024.

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 23 German (December 31, 2024: 26) and 103 foreign (December 31, 2024: 104) subsidiaries were fully consolidated in addition to KION GROUP AG as at June 30, 2025.

In addition, eight associates (December 31, 2024: eight) and three joint ventures (December 31, 2024: three) were consolidated and accounted for using the equity method.

As at June 30, 2025, 53 (December 31, 2024: 51) 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 judgments and estimates in these condensed consolidated interim financial statements are unchanged compared with December 31, 2024. With the exception of the introduction of cash flow hedge accounting, as described below, the accounting policies are also the same as those used in 2024.

Starting in the 2025 financial year, the KION Group has introduced cash flow hedge accounting in accordance with IFRS 9 in connection with the financing of the lease business. In this context, contracted and highly probable future payments from variable-rate liabilities are designated as hedged items. Portions of amortizing payer interest-rate swaps in the same currency that, prior to the current financial year, had been recognized as stand-alone derivatives are designated as hedging instruments. The introduction of cash flow hedge accounting and the recognition of the changes in the fair value of the payer interest-rate swaps in accumulated other comprehensive income (loss) should significantly reduce the measurement effect that these interest-rate derivatives previously had in the consolidated income statement. Portfolio fair value hedge accounting in accordance with IAS 39 is continuing unchanged for lease receivables.