KONE : China acted as a significant drag on Q2, H2 2022 should be better
>Q2 marked by a sharp contraction, in line with preliminary results - KONE reported preliminary Q2 results on 14 July (adjusted EBITA undershot expectations by 11%). Its definitive results, published yesterday during trading, are in line. Q2 orders were up 0.6% at constant currency (cc), while sales were down 15.2%, of which almost 40% in China. As in Q1, the gross margin on orders reflected a slight erosion vs Q2 2021 but improved slightly on a sequential basis, sho...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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