Initial application of new IFRSs
The KION Group initially applies IFRS 9 ‘Financial Instruments’, IFRS 15 ‘Revenue from Contracts with Customers’ and IFRS 16 ‘Leases’ in full and retrospectively as of 1 January 2018. Only the amended rules on hedge accounting in accordance with IFRS 9 are applied prospectively. The prior-year figures have not been restated for IFRS 9, whereas for IFRS 15 and IFRS 16 the prior-year figures have been restated in accordance with the transitional provisions applicable in each case.
The disclosures relating to the financial performance and financial position of the KION Group, the consolidated income statement, the consolidated statement of comprehensive income, the consolidated statement of financial position, the consolidated statement of cash flows and the segment report take into account the following effects and changes in presentation resulting from the initial application of new financial reporting standards.