Announcement • Aug 03
KONE Egypt Introduces MyKONE Digital Customer Portal KONE Egypt has introduced myKONE, a digital customer portal that enhances collaboration and gives customers greater visibility throughout project delivery. myKONE brings that philosophy to life by giving customers a single digital gateway to their projects. Through the platform, customers can follow project progress from order confirmation through project delivery, monitor key milestones, receive email notifications when key project milestones are completed, access project information and stay connected with their KONE project team. By bringing essential project information together in one place, myKONE provides greater visibility, simplifies communication and helps customers stay informed and engaged throughout the project journey. The introduction of myKONE supports KONE's Rise strategy by accelerating digitalization and reinforcing the company's customer-centric approach. 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. 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. 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. 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. 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. 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. 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. 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%. Announcement • Sep 18
Kone Wins Order for Luxury Condominium Project in Ontario KONE, has won an order to provide six KONE elevators and a touchless elevator call solution for a suburban Toronto condominium development. Distrikt Trailside, a master-planned community of luxury condos and two-story suites, is currently in preconstruction in Oakville, Ontario, bringing affordable luxury to one of the most desirable places to live in the Greater Toronto Area. Located near key community amenities including parks and schools, the development features modern design elements paired with traditional masonry craftsmanship, designer kitchens and imported vanities, as well as a proprietary smart home technology system, Distrikt AI, that is standard in all suites. KONE solutions include six KONE MonoSpace® 500 elevators, each with KONE Elevator Call, an touchless solution for calling elevators. KONE Elevator Call makes its Canadian debut in the Distrikt Trailside project. The cloud-based solution allows the user to call an elevator with a smartphone, without touching elevator buttons. Construction of two 10-story condominiums with over 600,000 combined square feet is expected to begin in 2021. Distrikt Developments and Fiera Real Estate are the owners, with Distrikt also serving as developer. Design services were provided by Kirkor Architects and Planners, with construction management provided by Bluescape. Announcement • Sep 17
KONE Wins Order for Forsyth Pointe KONE has won an order to provide 11 KONE elevators and smart building solutions for a high-profile development in suburban St. Louis. Located in the heart of downtown Clayton, Missouri, the one million-square-foot, mixed-use Forsyth Pointe development includes 475,000 square feet of office space and street-level retail space. The project encompasses two office towers connected by a seven-story, 1,250-car parking facility. An one-acre garden terrace and a 10,000-square-foot fitness facility will be located on the seventh floor. Offering spectacular views of nearby Shaw Park, Forsyth Pointe is being designed to achieve LEED Silver certification. Energy-efficient features include a green roof and electric-vehicle charging stations in the parking garage. KONE solutions include 11 KONE elevators, all with KONE Destination to improve elevator convenience and efficiency, KONE E-Linkâ„¢ monitoring, and KONE InfoScreens for improved guidance and communication. Construction is underway now, with substantial project completion expected in 2022. Housed in a steel-framed glass structure, the development offers premier-level office space. The project is being developed by US Capital Development. The 10-story east tower is owned by Commerce Bank, and the eight-story west tower is owned by Brentwood Forsyth Partners I, LLC. Forsyth Pointe is designed by Christner Architects (design architect, architect of record and landscape architect) and CEDERGREEN, LLC (design architect), both of St. Louis. McCarthy Building Companies, also of St. Louis, is the general contractor.