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Kone Oyj (KNEBV.HE)

KNEBV.HE on Helsinki Stock Exchange

45.27EUR
12:00pm EST
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€0.27 (+0.60%)
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€45.00
Open
€44.95
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€45.29
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€44.64
Volume
460,559
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689,776
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€47.70
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€39.77

Latest Key Developments (Source: Significant Developments)

Elevator Maker Kone Says Q4 Sales Higher Than Expected, Sees Profit Pressures In 2018
Friday, 12 Jan 2018 02:00am EST 

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 05:18am EST 

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 07:00am EST 

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 02:00am EST 

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 01:00am EDT 

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

Kone updates 2017 outlook
Tuesday, 26 Sep 2017 02:35am EDT 

Sept 26 (Reuters) - Kone Oyj :Says updates its 2017 business outlook to take into account restructuring costs from the Accelerate program, current foreign exchange rates and the latest business performance forecast.Says assuming that translation exchange rates would remain at end of August level for remainder of year, it would have an around 30 million euros ($35.56 million) negative impact on 2017 EBIT compared to previous assumption.Says forecast for full-year business performance has improved slightly during Q3.Says continues to expect net sales to grow by 1-3 percent at comparable exchange rates as compared to 2016.Says adjusted EBIT is expected to be in range of 1,200-1,250 million euros, assuming that translation exchange rates would remain approximately at end of August level for remainder of year.  Full Article

Finland's Kone wins contract from German-built cruise ships
Friday, 25 Aug 2017 03:00am EDT 

Aug 25 (Reuters) - Kone Oyj :says has been awarded a contract by German MV WERFTEN to equip two of the shipyard group's newest cruise ship class vessels specifically designed for Asian cruise market.the contract also includes options for two similar vessels.says it will deliver 9 MonoSpace elevators, 33 MiniSpace elevators and 16 TravelMaster escalators, and other solutions.says has also been awarded a contract by MV WERFTEN to equip two mega yachts with an option for one additional ship.orders were booked in the second quarter of 2017.  Full Article

Kone wins order to supply elevators, escalators to OCT Tower in Shenzhen​
Monday, 17 Jul 2017 01:13am EDT 

July 17 (Reuters) - KONE OYJ :‍WON AN ORDER TO SUPPLY 31 KONE HIGH-RISE ELEVATORS TO OCT TOWER, A MIXED-USE DEVELOPMENT COMPRISING OFFICES AND A COMMERCIAL CENTER​.‍ORDER WAS BOOKED IN Q1 OF 2017​.  Full Article

Elevator maker Kone wins order in Australia
Thursday, 29 Jun 2017 02:19am EDT 

June 29(Reuters) - KONE OYJ ::Says has won an order to supply 10 elevators to the Greenland Centre Sydney development in Sydney, Australia.Says order was booked in the first quarter of 2017.  Full Article

Kone to supply elevators and escalators to Singapore
Tuesday, 6 Jun 2017 01:00am EDT 

June 6(Reuters) - KONE OYJ ::WON AN ORDER TO SUPPLY 69 ELEVATORS AND ESCALATORS TO FUNAN DIGITALIFE MALL, A DEVELOPMENT LOCATED IN SINGAPORE AND OWNED BY CAPITALAND MALL TRUST.THE ORDER WAS BOOKED IN Q1 2017.  Full Article

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Thyssenkrupp not in talks with Kone over elevator business: CFO

FRANKFURT Thyssenkrupp is not in talks with Finland's Kone about its elevator business, Thyssenkrupp's Chief Financial Officer Guido Kerkhoff told journalists on Wednesday after the group published first-quarter results.