Announcement • Jun 03
KONE Corporation Announces Board Appointments KONE Corporation held its Extraordinary General Meeting in Helsinki on June 3, 2026 approved election of Ranjan Sen and Bruno Schick as new members of the Board of Directors. Announcement • May 01
KONE Corporation Provides Earnings Guidance for the Year 2026 KONE Corporation provided earnings guidance for the year 2026. For the year, KONE expects its sales to grow 3% - 6% at comparable exchange rates in 2026. Announcement • Apr 30
KONE Oyj (HLSE:KNEBV) agreed to acquire TK Elevator GmbH from consortium led by Advent International, L.P. and Cinven Limited for €29.4 billion. KONE Oyj (HLSE:KNEBV) agreed to acquire TK Elevator GmbH from consortium led by Advent International, L.P. and Cinven Limited for €29.4 billion on April 29, 2026. As part of consideration, €5 billion is paid towards common equity of TK Elevator GmbH. The consideration consists of 270 million common equity of KONE Oyj to be issued for common equity of TK Elevator GmbH. The majority of TKE's existing interest-bearing net debt, amounting to approximately EUR 9.2 billion, is expected to be refinanced. As part of the transaction, KONE has received committed financing from Bank of America and BNP Paribas and intends to fund the cash component of the transaction consideration, including refinancing of the majority of TKE’s interest-bearing net debt, through a combination of cash from its balance sheet and the proceeds from new debt raised.
KONE's current President and Chief Executive Officer Philippe Delorme would lead the combined group, with Ilkka Hara as Chief Financial Officer. Antti Herlin would remain as Chairman of the Board of Directors, with an ownership representing over 50% of KONE's voting rights, ensuring continuity and a sustained long-term strategic focus. TKE shareholders would have the right to nominate up to two members of KONE's Board of Directors. The combined group would be headquartered in Finland.
For the period ending September 30, 2025, TK Elevator GmbH reported total revenue of €9.23 billion and EBIT of €1.36 billion and Adjusted EBIDTA €1.6 billion. As of September 30, 2025, TK Elevator GmbH reported total assets of €22.65 billion. The Board of Directors of KONE has furthermore unanimously concluded that the transaction is in the best interests of KONE. The transaction is subject to approval of offer by acquirer shareholders and approval by regulatory board / committee. The transaction is conditional upon an authorization for the KONE’s Board of Directors to issue the share consideration to Vertical Topco I S.A. in a directed share issuance (by a majority of two-thirds of votes cast and shares represented), and election of two members of the Board of Directors of KONE nominated by Vertical Topco I S.A. (by a simple majority), conditionally on completion of the transaction. The expected completion of the transaction is expected to occur earliest in the second quarter of 2027.
The transaction is expected to be accretive to KONE’s earnings per share, adjusted for amortization of intangibles resulting from the transaction and one-off transaction and integration costs, in the first full year post-completion with an accelerating trajectory in subsequent years.
Bank of America Europe DAC, Stockholm branch acted as financial advisor for KONE Oyj. Bank of America Europe DAC, Stockholm branch acted as fairness opinion provider for KONE Oyj. BNP Paribas SA, Bankfilial Sverige acted as fairness opinion provider for KONE Oyj. Hannes Snellman Attorneys Ltd. acted as legal advisor for KONE Oyj. Skadden, Arps, Slate, Meagher & Flom LLP acted as legal advisor for KONE Oyj. Goldman Sachs Bank Europe SE acted as financial advisor for TK Elevator GmbH. Kirkland & Ellis, Germany acted as legal advisor for TK Elevator GmbH. Roschier, Attorneys Ltd. acted as legal advisor for TK Elevator GmbH. Freshfields LLP acted as legal advisor for TK Elevator GmbH. Announcement • Mar 06
KONE Corporation Announces Changes In Board And Committee Composition KONE Corporation, at its meeting held after the Annual General Meeting on March 5, 2026, the Board of Directors of KONE Corporation elected from among its members Antti Herlin as its Chairman and Jussi Herlin as Vice Chair. Marika Fredriksson was elected as Chair of the Audit Committee and Susan Duinhoven, Jussi Herlin and Timo Ihamuotila as members of the Audit Committee. Marika Fredriksson, Susan Duinhoven and Timo Ihamuotila are independent of both the company and of significant shareholders. Timo Ihamuotila was elected as Chair of the Nomination and Compensation Committee and Susan Duinhoven, Antti Herlin and Jussi Herlin as members of the Nomination and Compensation Committee. Timo Ihamuotila and Susan Duinhoven are independent of both the company and of significant shareholders. Meeting date: March 5, 2026. Announcement • Jul 18
Kone Oyj Provides Earnings Guidance for the Full Year 2025 KONE Oyj provided earnings guidance for the full year 2025. The company expected its sales to grow 2-5% at comparable exchange rates in 2025. KONE previously expected its sales to grow 1-6% at comparable exchange rates in 2025. The key profitability drivers are sales growth in Service and Modernization and the ramp up of performance initiatives. The challenging New Building Solutions market in China, slight overall decline in margin of orders booked in 2024, and a limited impact from tariffs are expected to impact profitability negatively. Announcement • Jun 18
KONE Launches Next-Generation Customer Planning Tool, The KONE Studio, in Middle East, Turkiye & Africa KONE introduced KONE Studio in the Middle East, Turkiye & Africa region - an innovative digital service designed to make elevator planning faster, easier, and more collaborative for customers. KONE Studio brings together all of KONE's core planning and designing tools into one intuitive platform, enabling customers to quickly input building specifications, explore customizable elevator solutions, and receive tailored plans within minutes. Available 24/7, and up to the requested building type, the platform ensures that customers always work with the latest product data, safety regulations, and shaft dimensions - helping them design efficiently and accurately from the start. With KONE Studio, customers can: Design with 3D visuals: Find the right aesthetic using an easy, online tool synced with KONE pricing tools. Use exact building specifications: Access always up-to-date elevator data to optimize planning. Save project details: Store and revisit custom designs as the project evolves. Export project specs: Download CAD drawings, BIM models, and specification sheets in just a few clicks. Proceed without registration: Customers can explore and use KONE Studio freely, no sign-up needed. This streamlined, self-service approach reduces complexity, accelerates decision-making, and empowers customers to get it right the first time, saving time, minimizing revisions, and improving overall project efficiency. This launch is a key milestone in KONE's Rise strategy, which emphasizes digitalization and making KONE the easier company to work with. By equipping customers with powerful, user-friendly tools, KONE is reimagining the planning journey and improving project execution from day one. Announcement • Jun 05
KONE Appoints Michelle Wen as Executive Vice President, Procurement and Member of the Executive Board, Effective August 1, 2025 KONE appointed Michelle Wen Executive Vice President, Procurement and member of the Executive Board, effective August 1, 2025. In this new EXB role, Michelle will report to Philippe Delorme, President & CEO of KONE. Michelle has held several global leadership positions in procurement, purchasing, supply chain, and supplier quality across various industries in Europe, Asia and the United States. From 2017 to 2022, she was with Stellantis Corporation, most recently as Chief Global Purchasing and Supply Chain Officer. Earlier, she has worked at companies such as Vodafone, Vallourec, Alstom Transport, Renault Nissan, and Philips Car Systems. Currently, Michelle is a Member of the Board at Georg Fischer Ltd. Michelle holds a Bachelor's degree in English literature and international trade from American Christ's College and an MBA from ESCP Business School. She has also studied economics and accounting at the London School of Economics and executive management at INSEAD and Wharton. Announcement • May 02
KONE Oyj Specifies Earnings Guidance for the Year 2025 KONE Oyj specified earnings guidance for the year 2025. For the year, the company expects its sales to grow 1-6% at comparable exchange rates in 2025. The company previously expected its sales to grow slightly at comparable exchange rates in 2025. Announcement • Mar 06
KONE Corporation Announces Board and Committee Changes The Board of Directors of KONE Corporation at its meeting held after the Annual General Meeting, on March 5, 2025 elected from among its members Antti Herlin as its Chairman and Jussi Herlin as Vice Chair. Marika Fredriksson was elected as Chair of the Audit Committee and Susan Duinhoven, Jussi Herlin and Timo Ihamuotila as members of the Audit Committee. Marika Fredriksson, Susan Duinhoven and Timo Ihamuotila are independent of both the company and of significant shareholders. Jussi Herlin was elected as Chair of the Nomination and Compensation Committee and Matti Alahuhta, Susan Duinhoven and Antti Herlin as members of the Nomination and Compensation Committee. Matti Alahuhta and Susan Duinhoven are independent of both the company and of significant shareholders. Announcement • Feb 05
Kone Oyj Announces Changes in Executive Board KONE Corporation announced Changes in the KONE Executive Board. Nicolas Alchal has been appointed Executive Vice President, Commercial & Operations as of April 1, 2025. He continues to be part of the KONE Executive Board, reporting to Philippe Delorme, President and CEO. Nicolas will continue in his current role as interim Executive Vice President for KONE's Europe organization, until Karla Lindahl returns from parental leave in late March. Nicolas succeeds Axel Berkling who has decided to step down from his position as Executive Vice President for Commercial & Operations as of March 31. Following this date, Axel will continue to serve the company as an Executive Advisor until the end of August 2025, after which he will pursue other opportunities outside of KONE. Kaori Uehigashi has been appointed Executive Vice President, Strategy & Transformation as of early May 2025. She continues to be a member of the Executive Board, reporting to Philippe Delorme, having served as the interim leader for the Strategy & Transformation organization since January 2024. Announcement • Jan 31
KONE Corporation Proposes Dividend for the Financial Year 2024, Payable on 14 March 2025 The Board of Directors of KONE Corporation proposed that a dividend of EUR 1.7975 be paid for each class A share and a dividend of EUR 1.80 be paid for each class B share for the financial year 2024. The date of record for dividend distribution is 7 March 2025 and the dividend is paid on 14 March 2025. The dividend will be paid to shareholders who are registered in the company's shareholder register maintained by Euroclear Finland Oy in Finland on the dividend record date. Dividends will not be paid to shares held by the company on the dividend record date. Announcement • Jan 30
Kone Oyj Provides Earnings Guidance for the Year 2025 KONE Oyj provided earnings guidance for the year 2025. The company expects its sales to be stable or to grow slightly at comparable exchange rates in 2025. Buy Or Sell Opportunity • Jan 07
Now 21% undervalued after recent price drop Over the last 90 days, the stock has fallen 9.1% to €47.00. The fair value is estimated to be €59.64, however this is not to be taken as a buy recommendation but rather should be used as a guide only. For the next 3 years, revenue is forecast to grow by 4.0% per annum. Earnings are also forecast to grow by 8.1% per annum over the same time period. Announcement • Oct 24
KONE Oyj, Annual General Meeting, Mar 05, 2025 KONE Oyj, Annual General Meeting, Mar 05, 2025. Reported Earnings • Oct 24
Third quarter 2024 earnings released: EPS: €0.48 (vs €0.47 in 3Q 2023) Third quarter 2024 results: EPS: €0.48 (up from €0.47 in 3Q 2023). Revenue: €2.75b (flat on 3Q 2023). Net income: €246.8m (flat on 3Q 2023). Profit margin: 9.0% (up from 8.9% in 3Q 2023). Revenue is forecast to grow 4.1% p.a. on average during the next 3 years, compared to a 4.4% growth forecast for the Machinery industry in Germany. Over the last 3 years on average, earnings per share has increased by 1% per year whereas the company’s share price has fallen by 3% per year. Buy Or Sell Opportunity • Oct 24
Now 21% undervalued Over the last 90 days, the stock has risen 12% to €51.04. The fair value is estimated to be €64.50, however this is not to be taken as a buy recommendation but rather should be used as a guide only. For the next 3 years, revenue is forecast to grow by 4.1% per annum. Earnings are also forecast to grow by 7.8% per annum over the same time period. Announcement • Jul 31
KONE Oyj Appoints Loay Dajani as the New Managing Director for the Middle East, Turkey, and Africa KONE Oyj announced appointment of Loay Dajani as the Managing Director for KONE Middle East, Turkey, and Africa (KMTA). With over 25 years of extensive experience and a proven track record of success, Dajani joins KONE from ABB, a pioneering technology leader in electrification and automation, where he spent 18 years in various leadership roles. Dajani brings a wealth of knowledge and expertise to KONE, having held numerous senior positions throughout his career. His leadership is expected to further elevate KONE's operations and enhance its market presence in the Middle East, Turkey, and Africa region. Under Dajani's leadership, KONE is well-positioned to guide its operations in the Middle East, Turkey, and Africa towards continued growth and success. One of Dajani's primary strategic objectives is to make KONE a great place to work, focusing on attracting top talent and promoting diversity and inclusion within the company. KONE is confident that Dajani's appointment will usher in a new era of growth and innovation for the company in the Middle East, Turkey, and Africa. With his strong leadership skills and commitment to excellence, KONE is poised to continue delivering exceptional solutions and services to its customers across the region. Reported Earnings • Jul 22
Second quarter 2024 earnings released: EPS: €0.50 (vs €0.43 in 2Q 2023) Second quarter 2024 results: EPS: €0.50 (up from €0.43 in 2Q 2023). Revenue: €2.80b (down 1.2% from 2Q 2023). Net income: €258.6m (up 16% from 2Q 2023). Profit margin: 9.2% (up from 7.9% in 2Q 2023). The increase in margin was driven by lower expenses. Revenue is forecast to grow 3.5% p.a. on average during the next 3 years, compared to a 4.6% growth forecast for the Machinery industry in Germany. Over the last 3 years on average, earnings per share has fallen by 2% per year but the company’s share price has fallen by 13% per year, which means it is performing significantly worse than earnings. Announcement • May 10
KONE Oyj (HLSE:KNEBV) acquired Orbitz Elevators Pty Ltd. KONE Oyj (HLSE:KNEBV) acquired Orbitz Elevators Pty Ltd on May 8, 2024.KONE Oyj (HLSE:KNEBV) completed the acquisition of Orbitz Elevators Pty Ltd on May 8, 2024. Announcement • May 06
KONE Corporation Announces Executive and Board Changes Kaija Bridger has been appointed Executive Vice President, People & Communications, and a member of the Executive Board at KONE as of July 1, 2024. She will report to Philippe Delorme, President and CEO, KONE Corporation. Kaija succeeds Susanne Skippari, who has served as Executive Vice President, People & Communications, and as a member of the Executive Board since 2017. Susanne has decided to leave KONE for a position outside the company. Kaija began her career at KONE in 2015 and has held various leadership positions in People & Communications, and formerly in Human Resources. She currently serves as Vice President, People & Communications for KONE Asia-Pacific, Middle East, and Africa, and before that she led Talent Management and Culture at KONE. Reported Earnings • Apr 25
First quarter 2024 earnings released: EPS: €0.39 (vs €0.36 in 1Q 2023) First quarter 2024 results: EPS: €0.39 (up from €0.36 in 1Q 2023). Revenue: €2.57b (flat on 1Q 2023). Net income: €203.0m (up 11% from 1Q 2023). Profit margin: 7.9% (up from 7.2% in 1Q 2023). Revenue is forecast to grow 3.1% p.a. on average during the next 3 years, compared to a 4.0% growth forecast for the Machinery industry in Germany. Over the last 3 years on average, earnings per share has fallen by 4% per year but the company’s share price has fallen by 13% per year, which means it is performing significantly worse than earnings. Announcement • Apr 24
KONE Corporation Provides Earnings Guidance for the Year 2024 KONE Corporation provided earnings guidance for the year 2024. For the year, the company expects sales to grow between 0% to 5% at comparable exchange rates. Upcoming Dividend • Feb 23
Upcoming dividend of €1.75 per share Eligible shareholders must have bought the stock before 01 March 2024. Payment date: 11 March 2024. Payout ratio and cash payout ratio are on the higher end at 98% and 92% respectively. Trailing yield: 3.8%. Lower than top quartile of German dividend payers (5.3%). Higher than average of industry peers (2.7%). Declared Dividend • Feb 05
Dividend of €1.75 announced Dividend of €1.75 is the same as last year. Ex-date: 1st March 2024 Payment date: 11th March 2024 Dividend yield will be 3.8%, which is higher than the industry average of 2.6%. Sustainability & Growth Dividend is not adequately covered by earnings (98% earnings payout ratio) nor is it adequately covered by cash flows (92% cash payout ratio). The dividend has increased by an average of 1.4% per year over the past 10 years. However, payments have been volatile during that time. The company's earnings per share (EPS) would need to grow by 8.6% to bring the payout ratio under control. EPS is expected to grow by 23% over the next 3 years, which is sufficient to bring the dividend into a sustainable range. Announcement • Feb 02
KONE Oyj (HLSE:KNEBV) acquired PACA Ascenseurs Services SARL form agta record ag. KONE Oyj (HLSE:KNEBV) acquired PACA Ascenseurs Services SARL form agta record ag on February 2, 2024. The transaction will have a positive effect on ASSA ABLOY´s operating margin going forward. The capital result is expected to be insignificant. KONE Oyj (HLSE:KNEBV) completed the acquisition of PACA Ascenseurs Services SARL form agta record ag on February 2, 2024. Buy Or Sell Opportunity • Jan 27
Now 21% overvalued after recent price rise Over the last 90 days, the stock has risen 15% to €45.88. The fair value is estimated to be €37.95, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 3.7% over the last 3 years. Earnings per share has declined by 4.7%. For the next 3 years, revenue is forecast to grow by 3.3% per annum. Earnings are also forecast to grow by 7.5% per annum over the same time period. Announcement • Dec 19
KONE Oyj Announces Changes in the Executive Board Nicolas Alchal, Managing Director for KONE Middle East, Türkiye, and Africa, has been appointed Executive Vice President, Strategy & Transformation as of January 1, 2025. He will succeed Axel Berkling who was appointed Executive Vice President, Commercial & Operations in October 2023. Before starting in this role in the beginning of 2025, Nicolas will act as an interim Executive Vice President for Europe Area, from March 1, 2024, onwards, when the current position holder, Karla Lindahl, starts her maternity leave. Karla will return to the position of Executive Vice President, Europe in early 2025. The search for Nicolas' successor has commenced. Nicolas started his career at KONE in 2011 and has held several leadership positions within the company, including New Equipment Business Director and Delivery Operations Director for South Europe, Middle East and Africa, and previously Managing Director for UAE, Qatar, Oman and Bahrain. Kaori Uehigashi has been named interim Executive Vice President for Strategy & Transformation organization as of January 4, 2024, and she will act in this position until the end of 2024. Kaori is currently Managing Director and Partner at Boston Consulting Group (BCG) and has most recently acted as the Managing Partner for BCG in Finland. Both Nicolas and Kaori will report to Philippe Delorme, President and CEO of KONE as of January 1, 2024. Recent Insider Transactions • Dec 03
Chairman of the Board recently bought €4.1m worth of stock On the 28th of November, Antti Herlin bought around 100k shares on-market at roughly €41.09 per share. This transaction amounted to 1.0% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Antti has been a buyer over the last 12 months, purchasing a net total of €12m worth in shares. Announcement • Oct 27
KONE Oyj (HLSE : KNEBV) acquired ElevaHogar. KONE Oyj (HLSE : KNEBV) acquired ElevaHogar on October 25, 2023. KONE Oyj (HLSE : KNEBV) completed the acquisition of ElevaHogar on October 25, 2023. Reported Earnings • Oct 26
Third quarter 2023 earnings released Third quarter 2023 results: Revenue: €2.75b (down 8.3% from 3Q 2022). Net income: €245.7m (up 3.5% from 3Q 2022). Profit margin: 8.9% (up from 7.9% in 3Q 2022). The increase in margin was driven by lower expenses. Revenue is forecast to grow 2.8% p.a. on average during the next 3 years, compared to a 3.5% growth forecast for the Machinery industry in Germany. Announcement • Oct 25
S8 Capital completed the acquisition of Russian business from KONE Oyj (HLSE : KNEBV). S8 Capital agreed to acquire Russian business from KONE Oyj (HLSE : KNEBV) on June 28, 2022. Following the closing of the deal, the Russian business will operate independently under a different brand. The transaction is subject to approval by the relevant regulatory authorities in Russia and is expected to close during the fourth quarter of 2022. HEIDI PAALANEN-KOEV, VESA RASINAHO of Castrén & Snellman acted as legal advisor to KONE.S8 Capital completed the acquisition of Russian business from KONE Oyj (HLSE : KNEBV) on September 24, 2023. The transaction has been approved by the relevant authorities. Announcement • Oct 11
KONE Oyj Announces Executive Changes KONE Oyj announced Axel Berkling has been appointed executive vice president, commercial & operations. Axel continues to be part of the KONE Executive Board, reporting to Henrik Ehrnrooth, President and CEO. Axel will also continue to lead the Strategy & Transformation organization until a successor has been appointed to this role. Axel succeeds Hugues Delval, who has decided to leave KONE on 12 October 2023 to pursue other opportunities. Hugues has served as a member of KONE’s Executive Board since 2017, first as leading the Service Business and more recently the Commercial & Operations organization. Axel Berkling joined the Executive Board in 2016. Employed by KONE since 1998, he has previously served as Executive Vice President, Central and North Europe 2021–2023, as Executive Vice President, Asia-Pacific 2016–2021, as Managing Director, KONE Germany 2012–2016, and in various regional commercial roles 2007–2012. New Risk • Jul 23
New major risk - Earnings quality The company has a high level of non-cash earnings. Accrual ratio: 25% This is considered a major risk. Non-cash earnings can arise from many different things. However, if a company consistently has a high level of non-cash earnings, it may be a sign that they are recognizing revenue from customers before the full value of the sales are received as cash or they are not depreciating the value of their assets appropriately. These are practices that inflate earnings, while not providing a similar increase to cash flows. Companies in some select industries naturally have a high level of non-cash earnings and it is not a major concern. However, in the worst case scenario it can be an early sign of performance manipulation by management. Currently, the following risks have been identified for the company: Major Risks Dividend is not well covered by earnings and cash flows. Payout ratio: 98% Cash payout ratio: 133% High level of non-cash earnings (25% accrual ratio). Announcement • Jul 22
KONE Corporation Provides Earnings Guidance for the Year 2023 KONE Corporation provided earnings guidance for the year 2023. The company expects its sales growth at comparable exchange rates for the year 2023 to be in the range of 3-6%. Reported Earnings • Jul 20
Second quarter 2023 earnings released Second quarter 2023 results: Revenue: €2.84b (up 11% from 2Q 2022). Net income: €223.1m (up 65% from 2Q 2022). Profit margin: 7.9% (up from 5.3% in 2Q 2022). The increase in margin was driven by higher revenue. Revenue is forecast to grow 1.9% p.a. on average during the next 3 years, compared to a 4.0% growth forecast for the Machinery industry in Germany. Recent Insider Transactions • Apr 30
Key Executive recently sold €335k worth of stock On the 27th of April, Mikko Korte sold around 7k shares on-market at roughly €51.50 per share. This transaction amounted to 9.7% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. This was Mikko's only on-market trade for the last 12 months. Reported Earnings • Apr 27
First quarter 2023 earnings released First quarter 2023 results: Revenue: €2.56b (up 4.7% from 1Q 2022). Net income: €183.7m (up 42% from 1Q 2022). Profit margin: 7.2% (up from 5.3% in 1Q 2022). The increase in margin was driven by higher revenue. Revenue is forecast to grow 3.4% p.a. on average during the next 3 years, compared to a 4.4% growth forecast for the Machinery industry in Germany. Upcoming Dividend • Feb 22
Upcoming dividend of €1.75 per share at 3.6% yield Eligible shareholders must have bought the stock before 01 March 2023. Payment date: 09 March 2023. The company is paying out more than 100% of its earnings and cash flow. Trailing yield: 3.6%. Lower than top quartile of German dividend payers (4.6%). Higher than average of industry peers (2.4%). Reported Earnings • Jan 27
Full year 2022 earnings released: EPS: €1.50 (vs €1.96 in FY 2021) Full year 2022 results: EPS: €1.50 (down from €1.96 in FY 2021). Revenue: €10.9b (up 3.7% from FY 2021). Net income: €774.5m (down 24% from FY 2021). Profit margin: 7.1% (down from 9.6% in FY 2021). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 2.5% p.a. on average during the next 3 years, compared to a 4.2% growth forecast for the Machinery industry in Germany. Over the last 3 years on average, earnings per share has fallen by 5% per year and the company’s share price has also fallen by 5% per year. Reported Earnings • Oct 28
Third quarter 2022 earnings released Third quarter 2022 results: Revenue: €3.00b (up 15% from 3Q 2021). Net income: €237.3m (down 8.5% from 3Q 2021). Profit margin: 7.9% (down from 9.9% in 3Q 2021). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 3.1% p.a. on average during the next 3 years, compared to a 4.2% growth forecast for the Machinery industry in Germany. Over the last 3 years on average, earnings per share has increased by 1% per year but the company’s share price has fallen by 12% per year, which means it is significantly lagging earnings. Reported Earnings • Jul 21
Second quarter 2022 earnings released Second quarter 2022 results: Revenue: €2.56b (down 9.1% from 2Q 2021). Net income: €135.3m (down 53% from 2Q 2021). Profit margin: 5.3% (down from 10% in 2Q 2021). The decrease in margin was driven by lower revenue. Over the next year, revenue is forecast to grow 8.9%, compared to a 10% growth forecast for the industry in Germany. Over the last 3 years on average, earnings per share has increased by 5% per year but the company’s share price has fallen by 4% per year, which means it is significantly lagging earnings. Reported Earnings • Apr 28
First quarter 2022 earnings released First quarter 2022 results: Revenue: €2.44b (up 5.0% from 1Q 2021). Net income: €129.3m (down 33% from 1Q 2021). Profit margin: 5.3% (down from 8.3% in 1Q 2021). The decrease in margin was driven by higher expenses. Over the next year, revenue is forecast to grow 7.1%, compared to a 9.9% growth forecast for the industry in Germany. Over the last 3 years on average, earnings per share has increased by 7% per year but the company’s share price has fallen by 2% per year, which means it is significantly lagging earnings. Buying Opportunity • Mar 05
Now 21% undervalued after recent price drop Over the last 90 days, the stock is down 21%. The fair value is estimated to be €59.53, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 4.1% per annum over the last 3 years. Earnings per share has grown by 6.9% per annum over the last 3 years. Upcoming Dividend • Feb 23
Upcoming dividend of €2.10 per share Eligible shareholders must have bought the stock before 02 March 2022. Payment date: 10 March 2022. Payout ratio is on the higher end at 89%, however this is supported by cash flows. Trailing yield: 4.1%. Within top quartile of German dividend payers (3.4%). Higher than average of industry peers (1.3%). Reported Earnings • Feb 04
Full year 2021 earnings: Revenues and EPS in line with analyst expectations Full year 2021 results: EPS: €1.96 (up from €1.81 in FY 2020). Revenue: €10.5b (up 5.8% from FY 2020). Net income: €1.01b (up 8.0% from FY 2020). Profit margin: 9.6% (in line with FY 2020). Revenue was in line with analyst estimates. Over the next year, revenue is forecast to grow 4.1%, compared to a 9.9% growth forecast for the industry in Germany. Over the last 3 years on average, earnings per share has increased by 7% per year whereas the company’s share price has increased by 9% per year. Reported Earnings • Oct 29
Third quarter 2021 earnings released The company reported a mediocre third quarter result with flat earnings, revenues and profit margins. Third quarter 2021 results: Revenue: €2.61b (flat on 3Q 2020). Net income: €259.3m (flat on 3Q 2020). Profit margin: 9.9% (in line with 3Q 2020). Over the last 3 years on average, earnings per share has increased by 7% per year whereas the company’s share price has increased by 8% per year. Reported Earnings • Jul 21
Second quarter 2021 earnings released The company reported a solid second quarter result with improved earnings and revenues, although profit margins were flat. Second quarter 2021 results: Revenue: €2.81b (up 11% from 2Q 2020). Net income: €286.3m (up 18% from 2Q 2020). Profit margin: 10% (in line with 2Q 2020). Over the last 3 years on average, earnings per share has increased by 5% per year but the company’s share price has increased by 14% per year, which means it is tracking significantly ahead of earnings growth. Reported Earnings • Apr 30
First quarter 2021 earnings released The company reported a strong first quarter result with improved earnings, revenues and profit margins. First quarter 2021 results: Revenue: €2.33b (up 5.8% from 1Q 2020). Net income: €193.0m (up 27% from 1Q 2020). Profit margin: 8.3% (up from 6.9% in 1Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 3% per year but the company’s share price has increased by 18% per year, which means it is tracking significantly ahead of earnings growth. Executive Departure • Apr 02
EVP of M&A & Strategic Alliances and Executive Board Member has left the company On the 31st of March, Klaus Cawen's tenure in the role of EVP of M&A & Strategic Alliances and Executive Board Member ended. As of December 2020, Klaus personally held 368.31k shares (€25m worth at the time). Klaus is the only executive to leave the company over the last 12 months. Is New 90 Day High Low • Mar 05
New 90-day low: €63.90 The company is down 5.0% from its price of €67.08 on 04 December 2020. The German market is up 8.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Machinery industry, which is up 5.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €41.20 per share. Upcoming Dividend • Feb 24
Upcoming Dividend of €2.25 Per Share Will be paid on the 11th of March to those who are registered shareholders by the 3rd of March. The trailing yield of 2.6% is below the top quartile of German dividend payers (3.4%), but it is higher than industry peers (1.8%). Announcement • Feb 10
Natalia Valtasaari Appoints Head of Investor Relations At Kone Natalia Valtasaari has been appointed Head of Investor Relations at KONE as of March 1, 2021. Natalia joins KONE from Wärtsilä where she has gained extensive experience in investor and media relations. Sanna Kaje, who has been responsible for KONE's Investor Relations since 2016 will now focus fully on her new role as the Head of Strategy. Natalia Valtasaari will report to Ilkka Hara, CFO at KONE. Reported Earnings • Jan 30
Full year 2020 earnings released: EPS €1.81 (vs €1.80 in FY 2019) The company reported a mediocre full year result with flat earnings, revenues and profit margins. Full year 2020 results: Revenue: €9.94b (flat on FY 2019). Net income: €939.2m (flat on FY 2019). Profit margin: 9.5% (in line with FY 2019). Over the last 3 years on average, earnings per share has increased by 1% per year but the company’s share price has increased by 12% per year, which means it is tracking significantly ahead of earnings growth. Analyst Estimate Surprise Post Earnings • Jan 30
Revenue misses expectations Revenue missed analyst estimates by 0.8%. Over the next year, revenue is forecast to grow 4.3%, compared to a 4.9% growth forecast for the Machinery industry in Germany. Announcement • Jan 28
Kone Oyj Appoints Samer Halabi as Executive Vice President for the Asia-Pacific Region and Member of the Executive Board KONE Oyj appoints Samer Halabi asxecutive Vice e President for the Asia-Pacific region and Member of the Executive Board. Samer Halabi has been appointed Executive Vice President, responsible for the Asia-Pacific region and a member of the Executive Board as of May 1, 2021. He will be based in Singapore and will report to Henrik Ehrnrooth, President and CEO, KONE Corporation. The Asia-Pacific region covers KONE's businesses in this geographical area, excluding China. Samer will succeed Axel Berkling who has been appointed Executive Vice President responsible for Central and North Europe, as previously announced. Samer has held the role of Regional Managing Director for KONE Middle East and Africa since 2010. He began his career at KONE in 2001 and has held various leadership positions in the region, including Director for the Distributor Business and Managing Director for KONE Qatar. He graduated from Aleppo University, Syria and holds a degree in mechanical engineering.