Q3 20 sales were driven by Chinese new equipment (China’s order intake grew by over 20% yoy). On the other hand, the modernization sub-segment contracted by 2% yoy, limiting KONE’s growth. The maintenance sub-segment recovered, posting 9M 20 growth of 1.2% yoy. Finally, the company kept its guidance unchanged expecting North America and EMEA’s new equipment to contract, modernization to continue shrinking across the board, and for maintenance to remain resilient (excluding impacts from lockdowns ....
22 Oct 2020
For how long will China drive KONE’s growth?
Sign up to access
Get access to our full offering from over 30 providers
Get access to our full offering from over 30 providers
For how long will China drive KONE’s growth?
Kone Oyj Class B (KNEBV:HEL) | 0 0 1.2% | Mkt Cap: 20,244m
- Published:
22 Oct 2020 -
Author:
David Chaucayanqui -
Pages:
3
Q3 20 sales were driven by Chinese new equipment (China’s order intake grew by over 20% yoy). On the other hand, the modernization sub-segment contracted by 2% yoy, limiting KONE’s growth. The maintenance sub-segment recovered, posting 9M 20 growth of 1.2% yoy. Finally, the company kept its guidance unchanged expecting North America and EMEA’s new equipment to contract, modernization to continue shrinking across the board, and for maintenance to remain resilient (excluding impacts from lockdowns ....