Basis of Presentation

The condensed consolidated interim financial statements of the KION Group as of 30 September 2012 and for Q3/2012 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. A condensed scope of interim reporting has been prepared in accordance with IAS 34.

All of the IFRSs and the related interpretations (IFRICs) of the IFRS Interpretations Committee (IFRS IC) that have been issued by the reporting date and that were required to be applied for financial years commencing on or after 1 January 2012 have been applied in preparing these condensed consolidated interim financial statements. 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 31 December 2011. With the exception of the new IFRS standards and interpretations described below, the accounting policies used to prepare these condensed consolidated interim financial statements were the same as those used to prepare the consolidated financial statements for the year ended 31 December 2011.

Financial reporting standards to be adopted for the first time in the current financial year

The following financial reporting standard was adopted for the first time in the condensed consolidated interim financial statements as of 30 September 2012:

  • Amendments to IFRS 7 'Financial Instruments: Disclosures', disclosures relating to transfers of financial assets.

The first-time adoption of this standard has had no significant effect on the presentation of the financial position or financial performance of the KION Group.

Financial reporting standards released but not yet adopted

Segment Reporting

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