Financial markets
The KION Group bills a large part of its revenue in euros. In 2016, the proportion was 60.8 per cent, which was slightly below the prior-year level due to the consolidation of Dematic (2015: 62.1 per cent). The remaining 39.2 per cent of revenue was billed in foreign currencies, most notably China’s renminbi and pound sterling. The significance of the US dollar also increased as a result of the consolidation of Dematic.
Overall, currency effects had a negative impact on the KION Group’s business situation in 2016. Against the Chinese renminbi, the euro was approximately 5 per cent higher on average than in 2015. The euro appreciated by around 13 per cent against pound sterling and by 4 per cent against the Brazilian real. The average US dollar exchange rate in 2016 was roughly the same as in 2015. > TABLE 015
Currencies |
|
015 |
||
Average rate per Euro |
2016 |
2015 |
||
|
||||
Australia (AUD) |
1.49 |
1.48 |
||
Brazil (BRL) |
3.86 |
3.70 |
||
China (CNY) |
7.35 |
6.98 |
||
United Kingdom (GBP) |
0.82 |
0.73 |
||
U.S.A. (USD) |
1.11 |
1.11 |