Financial markets

The KION Group bills a large part of its revenue in euros. In 2016, the proportion was 60.8 per cent, which was slightly below the prior-year level due to the consolidation of Dematic (2015: 62.1 per cent). The remaining 39.2 per cent of revenue was billed in foreign currencies, most notably China’s renminbi and pound sterling. The significance of the US dollar also increased as a result of the consolidation of Dematic.

Overall, currency effects had a negative impact on the KION Group’s business situation in 2016. Against the Chinese renminbi, the euro was approximately 5 per cent higher on average than in 2015. The euro appreciated by around 13 per cent against pound sterling and by 4 per cent against the Brazilian real. The average US dollar exchange rate in 2016 was roughly the same as in 2015. > TABLE 015