KONE : Q4 reassuring on the margin, less so on orders. Reorganisation is underway
>Q4 2022: strong fall in orders, but adjusted EBIT 5% ahead of expectations - KONE reported its 2022 results during trading hours yesterday. Q4 orders were down sharply by -11.2% at constant FX and sales were up 2.9%, compared with consensus forecasts for -5% and +1.6%, respectively. The gross margin on orders improved relative to Q4 2021, thanks to the fall in raw materials prices and price increases. The group underlined that orders were down across all zones and no...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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