KONE Oyj
(OHEL:KNEBV)
€
50.08
0.45 (0.91%)
Market Cap: 25.92 Bil
Enterprise Value: 26.09 Bil
PE Ratio: 26.36
PB Ratio: 10.11
GF Score: 85/100 
Q3 2024 Kone Oyj Earnings Call Transcript
Oct 24, 2024 / 07:30AM GMT
Release Date Price:
€51.3
(-0.97%)
Key Points
Positve
- KONE Oyj (KNYJF) launched a new strategy in September, which was well-received by employees and customers, providing a clear midterm direction for the business.
- The company experienced strong momentum in service and modernization, with close to 10% service sales growth and around 20% growth in modernization orders at comparable currencies.
- Sales growth was robust in the Americas, Europe, Asia Pacific, Middle East, and Africa, with a combined growth of around 10% at comparable currencies.
- KONE Oyj (KNYJF) improved its adjusted EBIT margin by 10 basis points from the previous year, showing positive progress despite challenges.
- The company is leading in innovation and sustainability, with the launch of KONE High-Rise MiniSpace DX, which is energy-efficient and offers advanced predictive analytics for smart maintenance.
Negative
- Sales in China declined by 20%, and profitability was negatively impacted due to intensified market headwinds.
- The market in China became increasingly difficult, with orders declining by over 20%, affecting overall sales growth.
- The adjusted EBIT margin improvement was limited due to broad-based inflation and margin decline in China.
- KONE Oyj (KNYJF) increased provisions for bad debt, which negatively impacted adjusted EBIT by around EUR20 million in the quarter.
- The company's business outlook for 2024 was revised downwards, with expected sales growth now at 0% to 3% at comparable exchange rates, reflecting challenges in the Chinese market.
Sanna Kaje Kone Oyj;Vice President;Interim Head of Investor Relations
Strategy & Market Intelligence
/
Good morning, and welcome to KONE's Q3 '24 results announcement. I'm Sanna Kaje, Head of KONE's Investor Relations. I have here with me today our President and CEO, Philippe Delorme.
Philippe Delorme
Kone Oyj - President, Chief Executive Officer
Good morning.
Sanna Kaje Kone Oyj;Vice President;Interim Head of Investor Relations
Strategy & Market Intelligence
/
And CFO, Ilkka Hara. Philippe will first go through the highlights of the quarter and say a couple of words on the strategy, and Ilkka will then talk more about the market development and financials. Philippe, please?
Philippe Delorme
Kone Oyj - President, Chief Executive Officer
Thank you, Sanna. Good morning, everyone. So as usual, I'll start by summarizing the highlights from the quarter, which was, in many ways, an important and
Already have an account? Log in
Get the full story
| Access to All Earning Calls and Stock Analysis | |
| 30-Year Financial on one screen | |
| All-in-one Stock Screener with unlimited filters | |
| Customizable Stock Dashboard | |
| Real Time Insider Trading Transactions | |
| 8,000+ Institutional investors’ 13F holdings | |
| Powerful Excel Add-in and Google sheets Add-on | |
| All data downloadable | |
| Quick customer support | |
| And much more... |
30-Day 100% money back guarantee
You are not charged until the trial ends. Subscription fee may be tax deductible.
Excellent 
4.6 out of 5 
Trustpilot
Trustpilot
Survey
We'd love to learn more about your experiences on GuruFocus.com and how we can improve!
Take Survey
Follow Us
Disclaimers