Kone Corp
F:KC4
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Kone Corp
F:KC4
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Kone Corp
KONE is a company that makes elevators, escalators, moving walkways, and the control systems that run them. It also installs this equipment in new buildings and keeps it running through long-term service contracts. Its customers are building owners, developers, contractors, and property managers in offices, apartment towers, shopping centers, airports, and other large buildings. The business makes money in two main ways: by selling and installing equipment for new projects, and by maintaining and modernizing machines that are already in use. That service work is especially important because elevators and escalators need regular inspection, repair, parts replacement, and upgrades to stay safe and reliable. KONE also earns recurring revenue from service agreements, which gives it a steadier income base than a company that only sells new equipment. What makes KONE distinct is its role in vertical transportation, a specialized part of the building industry. It does not just manufacture hardware; it helps move people and goods efficiently through tall or busy buildings over the full life of the equipment. That combination of equipment sales, installation, maintenance, and modernization makes KONE a key supplier for buildings that need dependable movement between floors.
KONE is a company that makes elevators, escalators, moving walkways, and the control systems that run them. It also installs this equipment in new buildings and keeps it running through long-term service contracts. Its customers are building owners, developers, contractors, and property managers in offices, apartment towers, shopping centers, airports, and other large buildings.
The business makes money in two main ways: by selling and installing equipment for new projects, and by maintaining and modernizing machines that are already in use. That service work is especially important because elevators and escalators need regular inspection, repair, parts replacement, and upgrades to stay safe and reliable. KONE also earns recurring revenue from service agreements, which gives it a steadier income base than a company that only sells new equipment.
What makes KONE distinct is its role in vertical transportation, a specialized part of the building industry. It does not just manufacture hardware; it helps move people and goods efficiently through tall or busy buildings over the full life of the equipment. That combination of equipment sales, installation, maintenance, and modernization makes KONE a key supplier for buildings that need dependable movement between floors.
Orders: KONE said second-quarter orders grew by almost 11% at comparable exchange rates, with double-digit growth in three of four regions and especially strong modernization demand.
Margins: Adjusted EBIT margin expanded by 40 basis points to EUR 370 million, helped by a richer sales mix and better fixed-cost leverage, while inflation and China remained headwinds.
Outlook: Full-year guidance was unchanged, with comparable sales growth still expected at 3% to 6% and adjusted EBIT margin at 12.3% to 13%.
Strategy: Management said the Rise strategy is translating into stronger connectivity, more modernization wins, and better residential competitiveness, while maintenance equipment connectivity reached 44%.
TKE deal: KONE said the planned combination with TKE is progressing as planned, with nearly 100% shareholder support at the EGM and filings underway across key jurisdictions.
Cost actions: The company said it has raised prices across all businesses and regions to offset inflation, and expects order margins to be flat or positive going forward.