KONE : Adjusted EBIT margin continued to pick up in Q3, orders in China surprise positively
>Q3 results: 2% above expectations at the adjusted EBIT level and orders which are stabilising. Philippe Delorme appointed CEO - Yesterday during trading, KONE published stable Q3 orders (+0.3%) at constant currency (cc) and sales down -1.4%, which compares with a consensus of -2% and +0.4% respectively. The gross margin on orders stabilised on a sequential basis and improved vs Q3 2022 for the fifth consecutive quarter, suggesting that price increases are beginning t...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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