Financial markets

The KION Group bills the bulk of its revenue in euros. In 2015 the proportion was 62.1 per cent, which was slightly below the prior-year level (2014: 62.8 per cent). The remaining 37.9 per cent of revenue was billed in foreign currencies, most notably China’s renminbi and pound sterling in the year under review.

The currency markets were characterised by strong fluctuations. The value of the euro generally remained at a low level, which impacted positively on the KION Group’s order intake and revenue but also pushed up costs. Against the Chinese renminbi, the euro was approximately 15 per cent lower on average than in 2014. Pound sterling appreciated by 10 per cent on average against the euro, whereas the Brazilian real fell by 19 per cent. > TABLE 015