Kone Oyj B

KONE is an elevator and escalator industry group based in Finland. Co. is engaged in the provision of products and services for the installation, modernization and maintenance of elevators, escalators and automatic building doors. Co. provides its products and services throughout the entire lifecycle of the equipment, beginning from the installation of new equipment to the maintenance and modernization during their lifecycle and the full replacement of the equipment. Co.'s customers are active in industry segments such as residential, office, retail, public transportation, hotel, hospital, and marine.
  • TickerKNEBV
  • ISINFI0009013403
  • ExchangeNasdaq Nordic Helsinki
  • SectorIndustrial Engineering
  • CountryFinland
Dave Nicoski ...
  • Ross LaDuke

Vermilion Int'l Compass: Global Equity Strategy

US Dollar Breakdown Bullish For Risk Sentiment Global indexes including the MSCI ACWI and ACWI ex-US are following in the MSCI EM index's footsteps by breaking to new highs. This is bullish and signals a new leg higher is underway. Additionally, the US dollar is showing signs of a breakdown, something we view as a positive for global risk sentiment as long as the decline continues to be orderly. Overall our outlook remains bullish and we suggest buying any dips. · US Dollar (DXY) Breaking Below 96. As we stated after the DXY broke below 98.50, the door remains open for non-US equitie...

Kone Oyj: 1 director sold

A director at Kone Oyj sold 15,000 shares at 65.803EUR and the significance rating of the trade was 75/100. Is that information sufficient for you to make an investment decision? This report gives details of those trades and adds context and analysis to them such that you can judge whether these trading decisions are ones worth following. Included in the report is a detailed share price chart which plots discretionary trades by all the company's directors over the last two years clearly showing Close periods where trading activity is restricted under listing rules. The names of board membe...

Bruno Cavalier ...
  • Jerôme Bodin
  • Sylvain Goyon, CFA

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 07/20/2020

Discussing a return of inflation may seem irrelevant at a time when there is so much downward pressure on prices (unemployment, raw materials). Inflation swaps are nonetheless picking up. Perhaps this is due to the effects of several long-term trends (ageing of the population, de-globalisation, etc.) combined with base effects on raw materials. While this return is likely to be gradual, it will imply an adjustment of portfolios. Value (banks) and commodities (mining) should benefit, e...

Alfred Glaser ...
  • Delphine Brault

KONE : Le T2 2020 surprend à la hausse, la Chine tire la croissance

>Un EBIT ajusté T2 supérieur aux attentes de 28% - Si les commandes ne sont que marginalement supérieures aux attentes du consensus (-9.4% à changes constants), les ventes ont très bien résisté (-0.1% contre -9.9% attendus par le consensus). Le groupe indique par ailleurs que la marge brute s’améliore légèrement sur les commandes, ce qui était déjà le cas les trimestres précédents. En termes d’activité, les nouveaux équipements affichent une croissance (4.9% à ch...

Alfred Glaser ...
  • Delphine Brault

KONE : Q2 2020 surprised pleasantly, China driving growth

>Q2 2020 adjusted EBIT topped expectations by 28% - Whilst orders were only a shade above the consensus (-9.4% at constant forex), sales held up well (-0.1% vs -9.9% forecast by the consensus). The group indicated, moreover, that the gross margin is improving slightly on orders, which was already the case in the previous quarters. In terms of activity, new equipment posted growth (4.9% at constant forex) whilst maintenance contracted slightly (-1.7%) and modernis...

Dave Nicoski ...
  • Ross LaDuke

Vermilion Int'l Compass: Global Equity Strategy

Global equities nearing potential resistance Helped by support from global central banks and improving trade headlines, critical support levels have held for major global indexes and therefore our outlook remains constructive. At the same time, just because these indexes are not breaking down does not mean they are headed higher. Rather, we believe global equities remain in a state of purgatory and consolidation is likely to continue as several major indexes approach logical resistance... see charts below and page 2. With global equity markets generally moving sideways, we want to stick with ...

Dave Nicoski ...
  • Ross LaDuke

Vermilion Int'l Compass: Global Equity Strategy

Global equities consolidating We remain constructive on global equities as the MSCI ACWI, ACWI ex-U.S., and EAFE indexes consolidate above their respective 200-day moving averages. On the other hand, the MSCI EM index is breaking below its 200-day moving average and is flirting with a breakdown below 56,000 support (local currency). Weakness within EM raises concerns that global equities may also succumb to weakness... see charts below. • Global equities consolidating. We take a look at the big picture, providing overviews on broad MSCI indexes (ACWI, ACWI ex-U.S., and EAFE)... see page 2. ...

Kone Oyj: 1 director sold

A director at Kone Oyj sold 15,000 shares at 65.803EUR and the significance rating of the trade was 75/100. Is that information sufficient for you to make an investment decision? This report gives details of those trades and adds context and analysis to them such that you can judge whether these trading decisions are ones worth following. Included in the report is a detailed share price chart which plots discretionary trades by all the company's directors over the last two years clearly showing Close periods where trading activity is restricted under listing rules. The names of board membe...

Dave Nicoski ...
  • Ross LaDuke

Vermilion Int'l Compass: Global Equity Strategy

US Dollar Breakdown Bullish For Risk Sentiment Global indexes including the MSCI ACWI and ACWI ex-US are following in the MSCI EM index's footsteps by breaking to new highs. This is bullish and signals a new leg higher is underway. Additionally, the US dollar is showing signs of a breakdown, something we view as a positive for global risk sentiment as long as the decline continues to be orderly. Overall our outlook remains bullish and we suggest buying any dips. · US Dollar (DXY) Breaking Below 96. As we stated after the DXY broke below 98.50, the door remains open for non-US equitie...

Alfred Glaser ...
  • Delphine Brault

KONE : Le T2 2020 surprend à la hausse, la Chine tire la croissance

>Un EBIT ajusté T2 supérieur aux attentes de 28% - Si les commandes ne sont que marginalement supérieures aux attentes du consensus (-9.4% à changes constants), les ventes ont très bien résisté (-0.1% contre -9.9% attendus par le consensus). Le groupe indique par ailleurs que la marge brute s’améliore légèrement sur les commandes, ce qui était déjà le cas les trimestres précédents. En termes d’activité, les nouveaux équipements affichent une croissance (4.9% à ch...

Alfred Glaser ...
  • Delphine Brault

KONE : Q2 2020 surprised pleasantly, China driving growth

>Q2 2020 adjusted EBIT topped expectations by 28% - Whilst orders were only a shade above the consensus (-9.4% at constant forex), sales held up well (-0.1% vs -9.9% forecast by the consensus). The group indicated, moreover, that the gross margin is improving slightly on orders, which was already the case in the previous quarters. In terms of activity, new equipment posted growth (4.9% at constant forex) whilst maintenance contracted slightly (-1.7%) and modernis...

Anders Idborg ...
  • Bengt Jonassen
  • Derek Laliberté
  • Erik Moberg
  • Fredrik Ivarsson
  • Jan Erik Gjerland
  • Karl Bokvist
  • Mads Thinggaard
  • Magnus Andersson
  • Martin Melbye
  • Olof Cederholm
  • Oskar Vikström
  • Øystein Elton Lodgaard
  • Peter Kurt Nielsen
  • Rickard Anderkrans
  • Tobias Kaj
  • Victor Forssell

Talking Points - Kesko (Hold): New guidance looking cautious

Autoliv (Buy) Post-result: Trends supportive for Q3 improvement …could be a touch on the cautious side Stock up 10% YTD, fairly valued

Anders Idborg ...
  • Olof Cederholm

Kone - Great Q2, but price pressure a worry

Q2’20 adj. EBIT 28-31% above cons/ABGSCe China a key driver, but sees increased price pressure Maintain SELL, TP up to EUR 53 (43)

Bruno Cavalier ...
  • Jerôme Bodin
  • Sylvain Goyon, CFA

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 07/20/2020

Discussing a return of inflation may seem irrelevant at a time when there is so much downward pressure on prices (unemployment, raw materials). Inflation swaps are nonetheless picking up. Perhaps this is due to the effects of several long-term trends (ageing of the population, de-globalisation, etc.) combined with base effects on raw materials. While this return is likely to be gradual, it will imply an adjustment of portfolios. Value (banks) and commodities (mining) should benefit, e...

Bruno Cavalier ...
  • Jerôme Bodin
  • Sylvain Goyon, CFA

ODDO BHF SECURITIES MORNING NEWS – COMMENTAIRES DETAILLES 20/07/2020

Parler d’un retour de l’inflation peut sembler hors sujet tant les pressions baissières sur les prix sont nombreuses (chômage, matières premières). Pourtant les swaps d’inflation se redressent. Il faut peut-être y voir les effets de plusieurs tendances de long terme (vieillissement de la population, dé-globalisation,..) conjuguées à des effets de base sur les matières premières. Si ce retour sera probablement graduel, il va impliquer une adaptation des portefeuilles. La value (banques...

Christer Magnergård ...
  • Frank Maaø
  • Håkon Astrup
  • Joachim Gunell
  • Jon Masdal
  • Jørgen Lian
  • Karl-Johan Bonnevier
  • Martin Hoang Nguyen
  • Mattias Holmberg
  • Niclas Gehin
  • Nicolai Farstad Olsen
  • Nicolas McBeath
  • Niklas Wetterling
  • Ole Martin Westgaard
  • Ole-Andreas Krohn
  • Olof Larshammar
  • Patrik Ling
  • Ragnhild Støer
  • Rune Majlund Dahl
  • Simen Mortensen
  • Stefan Gauffin
  • Tomi Railo

Northern Lights

Alexander Aukner ...
  • Christer Magnergård
  • Joachim Gunell
  • Jon Masdal
  • Martin Hoang Nguyen
  • Niklas Wetterling
  • Ole-Andreas Krohn
  • Patrik Ling
  • Tomi Railo

Northern Lights

Ahmed Ben Salem ...
  • Alain William
  • Alfred Glaser
  • Delphine Brault
  • Jerôme Bodin

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 06/30/2020

We are maintaining our Buy recommendation on the stock, factoring in a judicious Ingenico deal in services, a sector set to benefit from greater digitisation of transactions in the post-epidemic era and an attractive valuation for the new entity. We included Ingenico in our forecasts (from 2021) and the opportunities from Wirecard”s collapse in our valuation (target price = € 90 vs € 84). Cf. equity report published last evening. - ...

Ford Equity International Rating and Forecast Report

Ford Equity International Research Reports cover 60 countries with over 30,000 stocks traded on international exchanges. A proprietary quantitative system compares each company to its peers on proven measures of business value, growth characteristics, and investor behavior. Ford's three recommendation ratings buy, hold and sell, represent each stock’s return potential relative to its own country market.. The rating reports which are generated each week, include the fundamental details behind each recommendation and reflect the fundamental and price data as of the last trading day of the week...

Expert Corporate Governance Service (ECGS)

Kone - AGM 25 February 2020

In general, KONE is in compliance with the Finnish regulations relating to the organisation and procedures of the Annual General Meeting. Under ITEM 10, the board of directors seeks approval of the Company's executive remuneration policy. ECGS notes that, following the entry into force of the EU Shareholders’ Rights Directive (SRD II), this is the first time that KONE puts its executive remuneration policy to a vote. In general, ECGS deems the overall level of transparency of the policy below Finnish standards. In addition, ECGS is missing an actual LT component (with a performance period of ...

Kone – Proxinvest Corporate Governance Rating ® : D

Proxinvest Corporate Governance Rating ® helps investors integrate governance into their investment decision and identify governance risks and opportunities within their portfolio. Proxinvest Corporate Governance Rating ® Service rates European issuers through the analysis of four main themes : Ownership & Shareholder rights, Board & Committees, Audit & Process, Remuneration. Each theme is rated taking into account several comprehensive sub-categories. Our unique two-step process to achieve each rating includes a first step quantitative valuation and a second step qualitative filter...

Expert Corporate Governance Service (ECGS)

Kone - February 26, 2019

In general, KONE is in compliance with the Finnish regulations relating to the organisation and procedures of the Annual General Meeting. Under ITEM 10, approval is sought for the remuneration of the board of directors. Although ECGS has no concerns over the fees proposed, it notes that the non-executive chairman of the board Mr. Antti Herlin is entitled to an annual bonus on top of his base salary. In ECGS' view, non-executive directors should not be entitled to any variable payments to safeguard their independence from the company. ECGS therefore recommends to vote OPPOSE. Under ITEM 12, t...

ResearchPool Subscriptions

Get the most out of your insights

Get in touch