Key influencing factors
The sale of Linde Material Handling’s hydraulics business in December 2012 means that the key figures for the LMH segment and for the KION Group are not fully comparable with the key figures from the previous year. For this reason, the revenue, order intake and the profit contributions of the hydraulics business have been excluded from adjusted EBIT and adjusted EBITDA. The adjustments were made on the basis of the financial results for the hydraulics business that were reported as part of the LMH segment in 2012.
The first-time adoption of new financial reporting standards (see the notes to the consolidated financial statements) did not have a major impact on the financial performance or financial position of the KION Group. Because the rules governing transition to the new IAS 19R ‘Employee Benefits’ require it to be adopted retrospectively, the prior-year figures have been restated. The profit-and-loss transfer agreement concluded between KION Material Handling GmbH and Linde Material Handling GmbH in April 2013 led to a sharp increase in deferred tax assets in the reporting year.