KONE : A broadly disappointing Q3, aside from orders
>Q3 2024: sales up 1.1% at constant FX and adjusted EBIT margin of 11.6% - KONE has reported this morning Q3 results below consensus forecasts, except for orders. These grew by 5.5% at constant forex in Q3 (css at 0.6% and ODDO BHF at 2%), mainly thanks to the modernisation segment, up 20%, despite a more than 15% drop in new equipment orders (in volume) in China. The gross margin on orders was slightly weaker than in Q3 2023.Sales rose by 1.1% at constant forex ...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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