KONE : Activity still struggling in China in Q2, but relative share decreasing
>Q2 2024: revenues down -0.1% excluding FX effects and adjusted EBIT margin of 11.9% - On Friday morning KONE reported Q2 results that came in a shade below consensus expectations but with a positive surprise on orders. Orders were up 3.6% at constant exchange rates in Q2 (consensus at 0.2% and ODDO BHF at 4%), thanks notably to the modernisation segment which grew 11%. The gross margin on orders stabilised relative to Q2 2023. Revenues remained stable at constan...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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