Financial markets

In the reporting year, the KION Group billed 48.2 per cent of revenue in foreign currencies, the most important of which in addition to the US dollar were the Chinese renminbi and pound sterling. The euro continued to record moderate falls against the US dollar over the course of 2019. Relative to the dollar, the euro was worth 5.2 per cent less on average in 2019 than in 2018. The weaker euro boosted the export business, but made commodities more expensive, as they are mainly traded in US dollars. Overall, however, the effects of exchange rate fluctuations on the business situation and financial performance in the reporting year were negligible.