Kone: Taking the elevator up from the earnings slump
KONE’s Q4 report was a mix of positive and negative surprises. Order intake was disappointing, net sales were in line and the adjusted EBIT margin was a clear positive surprise. The 2023 guidance was less precise than before, but the Chinese market is expected to start recovering. Our estimate changes are relatively small.
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Kone
Kone is a manufacturer of elevators, escalators and automatic doors. Examples of other associated products and systems that the company provides include barriers, docking systems and traffic gates. Today, the company's products are resold in all global regions via authorized resellers. Kone was originally founded in 1910 and is headquartered in Espoo.
Read more on company pageKey Estimate Figures27.01.2023
2022 | 23e | 24e | |
---|---|---|---|
Revenue | 10,906.7 | 11,109.6 | 11,697.5 |
growth-% | 3.73 % | 1.86 % | 5.29 % |
EBIT (adj.) | 1,076.6 | 1,204.4 | 1,416.3 |
EBIT-% (adj.) | 9.87 % | 10.84 % | 12.11 % |
EPS (adj.) | 1.59 | 1.84 | 2.09 |
Dividend | 1.75 | 1.75 | 1.80 |
Dividend % | 3.62 % | 3.71 % | 3.81 % |
P/E (adj.) | 30.46 | 25.61 | 22.60 |
EV/EBITDA | 18.22 | 17.39 | 13.68 |