KONE : A good Q2, initial price hikes being introduced
>Q2 much better than expected (+8% at the adjusted EBIT level) - Yesterday KONE published a 17.2% increase in the order intake at constant currencies for Q2 2021 with a 12.7% increase in sales, compared with, respectively, +8.5% and +5.6% for the consensus. All regions contributed to growth.The gross margin on orders contracted slightly vs Q2 2020 (second consecutive quarter to show a slight deterioration), due to raw material price inflation and despite stable p...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.
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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