KONE : Q2 expected to be down, but with good resilience
>Europe will likely drag activity down in Q2 - Despite the critical activity status in certain countries, lockdown should have had a significant impact on KONE’s activity in Q2, particularly in Europe. We are expecting an organic contraction of 6.2% in group sales in Q2 (consensus forecast of -9.1%, source Vara). We are more optimistic than the consensus about the business for two reasons: First of all, China represents 29% of sales (and half of new equipmen...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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