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...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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