Selected notes to the consolidated statement of financial position

Goodwill and other intangible assets

In the first six months of 2025, the carrying amount of goodwill declined by €213.3 million to €3,434.9 million (December 31, 2024: €3,648.2 million), which mainly reflected currency effects.

As at June 30, 2025, the carrying amounts for brand names and for technology and development assets stood at €938.4 million and €679.5 million respectively (December 31, 2024: €939.3 million and €726.5 million respectively).

At €446.4 million, sundry other intangible assets were €54.6 million lower than their carrying amount as at December 31, 2024 (€500.9 million). Of this total, €309.7 million related to customer relationships (December 31, 2024: €369.8 million).

Inventories

The reported inventories break down as follows:

Impairment losses of €14.4 million were recognized on inventories in the second quarter of 2025 (Q2 2024: €9.8 million) and impairment losses of €32.1 million in the first six months of 2025 (H1 2024: €27.2 million). Reversals of impairment losses were recognized in an amount of €7.1 million in the second quarter of 2025 (Q2 2024: €4.6 million) and in an amount of €8.5 million in the first six months of 2025 (H1 2024: €8.5 million) because the reasons for the impairment no longer applied.

Equity

As at June 30, 2025, the Company’s share capital amounted to €131.2 million, which was unchanged on December 31, 2024 and was fully paid up. It was divided into 131,198,647 no-par-value shares.

The total number of shares outstanding as at June 30, 2025 was 131,124,771 no-par-value shares (December 31, 2024: 131,124,771 no-par-value shares). KION GROUP AG held 73,876 treasury shares as at the reporting date (December 31, 2024: 73,876).

The distribution of a dividend of €0.82 per share (dividend distributed in H1 2024: €0.70 per share) to the shareholders of KION GROUP AG resulted in an outflow of funds of €107.5 million in the second quarter of 2025 (H1 2024: outflow of €91.8 million).

Retirement benefit obligation and similar obligations

Overall, the net obligation under defined benefit pension plans fell to €590.1 million (December 31, 2024: €666.9 million). The net obligation consisted of €674.9 million recognized under the retirement benefit obligation and similar obligations (December 31, 2024: €747.5 million) less a sum of €84.8 million (December 31, 2024: €80.6 million) recognized under other non-current assets. This decrease compared with the end of 2024 was primarily attributable to a higher discount rate in the eurozone of 4.06 percent (December 31, 2024: 3.59 percent). Changes to discount rates resulted in an increase in equity of €44.5 million (after deferred taxes) in the reporting period.

The obligations under a defined benefit pension plan in the USA were transferred in full to an external company during the reporting period. This reduced the defined benefit obligation by €163.2 million. The transfer was fully funded from the existing plan assets, which meant that, overall, there was no material impact on the net obligations under the defined benefit pension plan.

Liabilities from lease business

Non-current and current liabilities from the lease business totaled €4,611.5 million (December 31, 2024: €4,407.5 million) and could be broken down into a sum of €4,493.1 million (December 31, 2024: €4,280.5 million) that related to the financing of the direct lease business and a sum of €118.4 million (December 31, 2024: €127.0 million) that related to repurchase obligations resulting from the indirect lease business.

Liabilities from short-term rental business

Non-current and current liabilities from the short-term rental business totaled €777.8 million (December 31, 2024: €814.1 million) and related to the financing of industrial trucks for the short-term rental fleet.