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KONE is running steadily

KNEBVResearch27.04.2023, 11.45
Inderes
Discuss
Download report (PDF)

Deviations in KONE’s Q1 figures from estimates were small but mainly positive. The company especially emphasized the improved margins of the order backlog. KONE fine-tuned its 2023 guidance and still relies on a recovery on the Chinese market. However, the valuation of the company's share is high, which is difficult to justify.

Kone is a manufacturer of elevators, escalators and automatic doors. Other related products and systems provided by the company include barriers, docking systems and traffic gates. The company's products are sold in all global regions through authorized distributors. Kone was founded in 1910 and is headquartered in Espoo.

Read more on company page

Key Estimate Figures27.04.2023

202223e24e
Revenue10,906.711,109.611,697.5
growth-%3.7 %1.9 %5.3 %
EBIT (adj.)1,076.61,244.41,488.0
EBIT-% (adj.)9.9 %11.2 %12.7 %
EPS (adj.)1.591.892.21
Dividend1.751.751.80
Dividend %3.6 %3.1 %3.2 %
P/E (adj.)30.529.925.6
EV/EBITDA18.420.216.2

Forum discussions

Here are Aapeli’s preview comments as KONE is set to publish its Q3 report on Wednesday KONE will publish its Q3 report on Wednesday, October...
13 hours ago
by Sijoittaja-alokas
6
I think it’s quite an exaggeration to claim that in a globally operating private equity investor, the Wallenbergs would be making add-on acquisitions...
10/12/2026, 10:05 AM
by Bigshorter
4
Citi sees the Thyssen deal going through as a ‘free option’. Citi values Kone at about €55 a share if the deal falls through, which includes...
10/9/2026, 11:49 AM
by Opa
6
Here is an article by Ilkka Sinervä as well, discussing, among other things, how the Wallenbergs may have entered the bidding race to acquire...
10/7/2026, 8:38 PM
by Sijoittaja-alokas
11
Yeah, I meant the Japanese elevator manufacturers Mitsubishi and Fujitec!
10/7/2026, 10:50 AM
by Petteri
4
Probably Fujitec and not Fujitsu? (the latter operates in the IT sector) Swedish private equity firm EQT acquired Fujitec earlier this year....
10/7/2026, 10:41 AM
by Ilkka
6
Let’s bump the Kone discussion back up. According to yesterday’s news, Mitsubishi + Fujitsu are the latest to enter the bidding as buyers competing...
10/7/2026, 10:34 AM
by Petteri
10