Financial markets

The KION Group bills the bulk of its revenue in euros; the proportion was 62.8 per cent in 2013 (2012: 65.5 per cent). The remainder is billed in foreign currencies, notably the Chinese renminbi, pound sterling and the Brazilian real. China’s renminbi proved comparatively stable over the year. Pound sterling depreciated against the euro, with the average price for the year down by 4.7 per cent compared with 2012. Despite various market interventions by the Brazilian central bank, the value of the real fell by a considerable 14.3 per cent. Overall, currency effects had a negative impact on the KION Group’s order intake and revenue. Excluding currency effects, consolidated revenue would have been €74.8 million or 1.7 per cent higher and order intake would have been €73.8 million or 1.6 per cent higher. >> Table 015