Financial markets

The KION Group bills a large part of its revenue in euros. However, the consolidation of Dematic – which generates a high volume of revenue in North America – for the whole of the year meant that the proportion of revenue billed in euros fell significantly, from 60.8 per cent to 52.0 per cent. The remaining 48.0 per cent of revenue was billed in foreign currencies, the most important of which for the KION Group were the US dollar, China’s renminbi and pound sterling.

Overall, currency effects had a negative impact on the KION Group’s business situation in 2017. Compared with 2016, the euro was approximately 4 per cent higher on average against the Chinese renminbi and around 7 per cent higher against pound sterling. Against the US dollar, the euro appreciated by roughly 2 per cent. > TABLE 015