Combined Management Report
This management report combines the group management report and the management report of KION GROUP AG. It is published instead of a group management report in the annual report of KION GROUP AG. In it, we report on the course of business (including business performance), the position and the expected development of the Group and KION GROUP AG. The combined management report for the year ended 31 December 2016 is the first such report to be produced. Previously, the management report for KION GROUP AG and the group management report for the KION Group were produced separately. Unless stated otherwise, the information on the following pages refers both to the Group and to KION GROUP AG. Sections that only contain information on KION GROUP AG are indicated as such. The report on the economic position includes a separate section containing disclosures for KION GROUP AG in accordance with the German Commercial Code (HGB).