Combined Management Report

The management report published in the 2017 annual report combines the group management report and the management report of KION GROUP AG. Unless stated otherwise, the description of the course of business (including business performance), position and expected development refers both to the Group and to KION GROUP AG. Sections that only contain information on KION GROUP AG are indicated as such. The report on the economic position includes a separate section containing disclosures for KION GROUP AG in accordance with the German Commercial Code (HGB).

Fundamentals of the KION Group

Report on the economic position

Financial position and financial performance

KION GROUP AG

Non-financial performance indicators

Events after the reporting date

Outlook, risk report and opportunity report