KONE : 2024 should facilitate further margin growth, albeit of a more limited magnitude
>A reassuring Q4 2023 on the orders front - KONE reported Q4 2023 results on Friday 26 January that were slightly weaker in terms of EBIT margin but better in terms of orders. The latter rose by 10.5% (consensus at -0.2% and ODDO BHF at 0%), thanks to a sharp increase in orders in China (>25%). Sales increased by 0.7% cc in Q4 (consensus: +1.3%, ODDO BHF +0.6%), with China recording a contraction. In terms of activity, new equipment declined (-11.1% at constant curren...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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