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Finland's Kone Q3 sales rise 5.2%, orders up 7.2%

By Reuters News


Overview

  • Finland elevator and escalator firm's Q3 sales rose 5.2% yr/yr

  • Adjusted EBIT for Q3 rose 8.3% yr/yr, margin expanded to 12.7%

  • Q3 orders received grew 7.2% yr/yr


Outlook

  • KONE expects 2026 sales to grow 4-6% at comparable exchange rates

  • Company sees 2026 adjusted EBIT margin at 12.5-12.9%

  • Company expects declining China market to weigh on profitability in 2026


Result Drivers

  • MODERNIZATION DEMAND - Co said modernization was the main driver of order growth, supported by strong activity in volume business

  • REGIONAL GROWTH - Asia-Pacific, Middle East and Africa drove growth, with Middle East showing strong performance

  • MARGIN EXPANSION FACTORS - Favorable business mix and fixed-cost leverage supported margin expansion, inflation managed effectively


Company press release:


Key Details

Metric

Beat/Miss

Actual

Consensus Estimate

Q3 Sales

EUR 2.91 bln

Q3 Adjusted EBIT

EUR 369 mln

Q3 Adjusted EBIT Margin

12.70%

Q3 EBIT

EUR 339 mln

Q3 Orders

EUR 2.29 bln


Analyst Coverage

  • The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 13 "strong buy" or "buy", 7 "hold" and 2 "sell" or "strong sell"

  • The average consensus recommendation for the heavy electrical equipment peer group is "buy"

  • Wall Street's median 12-month price target for KONE Oyj is €60.00, about 6.3% above its October 27 closing price of €56.46

  • The stock recently traded at 24 times the next 12-month earnings vs. a P/E of 22 three months ago


Reuters Recommended Reads

  • Oct 27 - Germany's TK Elevator posts record annual profit ahead of combination with Kone

  • Oct 27 - Sweden's Alfa Laval Q3 sales rise on order intake

  • Oct 27 - Sweden's Assa Abloy slightly beats Q3 sales estimates on strength in Americas and EMEIA divisions


For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.


(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)

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