KONE : Q1 2022 results undershot expectations, and the recovery will only be (very) gradual
>A Q1 13% below expectations at the adjusted EBIT level - Yesterday during trading, KONE published Q1 orders up 10.6% at constant forex and sales down 0.4% vs consensus forecasts of, respectively, +0.2% and +3.4%. The gross margin on orders deteriorated slightly vs Q1 2021, but showed a sequential improvement, suggesting that price increases are beginning to pay off. In terms of activity, sales of new equipment reflected a sharp contraction (-9.4% at constant fo...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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