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Research

KONE: Need for revision

By Erkki VesolaAnalyst
Kone
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KONE's Q1 numbers came very close to the consensus. The refinement to the 2024 guidance was not material, but our 2024-2026 forecasts have increased significantly after adopting a much more positive view on the Modernization market.

Kone

44.72EUR24.04.2024, 18.00
43EURTarget price
Reduce
Recommendation updated:28.01.2024

Kone is a manufacturer of elevators, escalators and automatic doors. Examples of other associated products and systems that the company provides include barriers, docking systems and traffic gates. Today, the company's products are resold in all global regions via authorized resellers. Kone was originally founded in 1910 and is headquartered in Espoo.

Read more on company page

Key Estimate Figures28.01.2024

202324e25e
Revenue10,952.311,162.411,682.7
growth-%0.4 %1.9 %4.7 %
EBIT (adj.)1,248.41,313.31,384.8
EBIT-% (adj.)11.4 %11.8 %11.9 %
EPS (adj.)1.881.962.07
Dividend1.751.801.80
Dividend %3.9 %3.3 %3.3 %
P/E (adj.)24.027.726.2
EV/EBITDA15.216.916.0
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