KONE’s reliance on China is paying off as new equipment greatly limited the total revenue contraction. On the other hand, the revenue contraction was mainly driven by the modernisation sub-segment (due to the reliance on the EMEA and North America). KONE’s outlook has been upgraded for FY20, shrinking now between -4% and 0%, in part also due to its solid order book. Therefore, we will raise our revenue estimates.
21 Jul 2020
Chinese elevators lift KONE's FY20 expectations
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Chinese elevators lift KONE's FY20 expectations
Kone Oyj Class B (KNEBV:HEL) | 0 0 1.2% | Mkt Cap: 20,244m
- Published:
21 Jul 2020 -
Author:
David Chaucayanqui -
Pages:
3
KONE’s reliance on China is paying off as new equipment greatly limited the total revenue contraction. On the other hand, the revenue contraction was mainly driven by the modernisation sub-segment (due to the reliance on the EMEA and North America). KONE’s outlook has been upgraded for FY20, shrinking now between -4% and 0%, in part also due to its solid order book. Therefore, we will raise our revenue estimates.