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Kone Oyj (KNEBV.HE)

KNEBV.HE on Helsinki Stock Exchange

44.30EUR
17 Jan 2018
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Latest Key Developments (Source: Significant Developments)

Kone Wins Elevator Order in Britain
Wednesday, 17 Jan 2018 

Jan 17 (Reuters) - Kone Oyj ::FIRST KONE ULTRAROPE IN THE UK TO BE INSTALLED IN SOUTH QUAY PLAZA, A RESIDENTIAL TOWER IN LONDON.  Full Article

Elevator Maker Kone Says Q4 Sales Higher Than Expected, Sees Profit Pressures In 2018
Friday, 12 Jan 2018 

Jan 12 (Reuters) - Kone Oyj ::PRELIMINARY INFORMATION ON KONE'S 2017 FINANCIALS AND OUTLOOK FOR 2018: Q4 2017 SALES WAS HIGHER THAN EXPECTED, THE PRESSURE ON ADJUSTED EBIT MARGIN IS EXPECTED TO CONTINUE IN 2018.SAYS ‍2017 FULL YEAR SALES WAS HIGHER THAN EXPECTED DUE TO STRONG NEW EQUIPMENT DELIVERIES IN Q4​.SAYS ‍2017 SALES GREW BY 4.2% AT COMPARABLE EXCHANGE RATES IN 2017 AGAINST EARLIER ESTIMATED 1-3%​.SAYS ‍PRELIMINARY ADJUSTED EBIT FOR FULL YEAR 2017 WAS EUR 1,230 MILLION WHICH IS WITHIN EARLIER GIVEN OUTLOOK RANGE OF EUR 1,200-1,250 MILLION​.SAYS ‍MARGIN OF ORDERS RECEIVED STABILIZED IN Q4 2017​.SAYS ‍ADJUSTED EBIT MARGIN IS EXPECTED TO CONTINUE TO DECLINE IN 2018 AS WITNESSED IN 2017​.SAYS ‍MARGIN PRESSURE IS EXPECTED TO START TO EASE TOWARDS END OF 2018 AS A RESULT OF PRICING AND PRODUCTIVITY ACTIONS THAT HAVE BEEN TAKEN​.SAYS ‍IN 2018, KONE'S SALES IS ESTIMATED TO GROW AT AROUND A SIMILAR RATE AS IN 2017 AT COMPARABLE EXCHANGE RATES​.SAYS ‍MAIN FACTORS CONTINUING TO PRESSURE ADJUSTED EBIT MARGIN IN 2018 ARE DECREASE IN MARGIN OF ORDERS RECEIVED WITNESSED IN 2017, IN CHINA IN PARTICULAR, AND INCREASED RAW MATERIAL PRICES​.SAYS ‍FOREIGN EXCHANGE RATES ARE ESTIMATED TO HAVE AN APPROXIMATELY EUR 40 MILLION NEGATIVE IMPACT ON KONE'S EBIT IN 2018​.SAYS ‍WILL PROVIDE A MORE PRECISE BUSINESS OUTLOOK FOR 2018 IN CONNECTION TO Q1 2018 REPORT​.  Full Article

Kone wins elevator order in Dubai
Wednesday, 10 Jan 2018 

Jan 10 (Reuters) - Kone Oyj ::SAYS WINS ORDER FOR WOW HOTEL APARTMENTS TOWER IN DUBAI.SAYS ‍WILL BE EQUIPPING DEVELOPMENT WITH 16 KONE MINISPACE ELEVATORS AND 7 MONOSPACE ELEVATORS​.  Full Article

Elevator Maker Kone Acquires Service Firm In Madrid
Tuesday, 19 Dec 2017 

Dec 19 (Reuters) - Kone Oyj ::KONE STRENGTHENS ITS POSITION IN MADRID, SPAIN BY ACQUIRING ASCENSORES R CASADO, S.A., AN ELEVATOR INSTALLATION, MAINTENANCE AND MODERNIZATION SERVICES COMPANY.SAYS ASCENSORES CURRENTLY HAS OVER 1,300 ELEVATORS IN SERVICE.  Full Article

Elevator maker Kone buys Hong Kong maintenance firm
Monday, 11 Dec 2017 

Dec 11 (Reuters) - Kone Oyj ::KONE ACQUIRES HONG KONG BASED SHAN ON ENGINEERING COMPANY LIMITED.SAYS ‍PREVIOUSLY, KONE OWNED 35.3 PCT OF COMPANY AND HAS NOW BOUGHT REMAINING 64.7 PCT SHAREHOLDING.SHAN ON HAS ABOUT 1,000 ELEVATORS IN ITS MAINTENANCE BASE.  Full Article

Kone to supply elevators and escalators to Melbourne, Australia
Monday, 23 Oct 2017 

Oct 23 (Reuters) - KONE OYJ :KONE TO EQUIP MELBOURNE'S PREMIUM GRADE OFFICE BUILDING IN AUSTRALIA WITH ULTRAROPE.‍CONTRACT WAS AWARDED IN Q3 OF 2017.​.  Full Article

Finland's Kone buys elevator service firm in upstate New York
Tuesday, 1 Nov 2016 

Kone Oyj : says has acquired the service and repair business of Downey Goodlein Elevator Corporation, in Rochester, New York . says acquisition brings Kone into a new market and provides the talent and experience to expand the service, modernization and new installation business in upstate New York .Price of the acquisition was not disclosed.  Full Article

KONE equips Sydney's high-energy-efficiency commercial tower in Australia
Friday, 7 Oct 2016 

Kone Oyj : Equips Sydney's high-energy-efficiency commercial tower in Australia . Won an order to supply 17 elevators to 100 Mount Street, North Sydney . Project is a 5 Star, Green Star Design and a 5 Star NABERS (National Australian Built Environment Rating System) rated commercial building .Order was booked in Q2 of 2016.  Full Article

Finland's Kone buys majority stake in Spain's Citylift
Thursday, 29 Sep 2016 

Kone Oyj : Says acquires a majority stake in spanish elevator company Citylift, S.A., providing installation, maintenance and modernization services .Says acquisition will strengthen Kone's position in the Spanish elevator market.  Full Article

Kone: Financial targets, 2016 business outlook unchanged
Wednesday, 28 Sep 2016 

Kone Oyj : Keeps strategic and financial targets as well as business outlook for 2016 unchanged . Expects growth to stem more from services . In new equipment, markets continue to grow except for sizeable Chinese market . Expects decline in Chinese market measured in units to moderate; competition will remain intense . Says will be investing more than ever in technology .Will connect over 1 million additional elevators and escalators to cloud during next four years.  Full Article

UPDATE 1-Elevator maker Kone expects China to hit 2018 profitability

HELSINKI, Jan 12 Elevator maker Kone reported its first fall in annual profit in a decade on Friday and said tough competition in China and increased raw material costs meant pressure on profitability would continue in 2018, knocking its shares.