Research, Charts & Company Announcements
Research Tree provides access to ongoing research coverage, media content and regulatory news on KONE OYJ-B. We currently have 6 research reports from 1 professional analysts.
|22Dec16 09:30||GNW||Change in KONE Corporation's holding of treasury shares|
|01Dec16 07:45||GNW||Share subscriptions with KONE 2013 and 2014 option rights in 2017|
|22Nov16 02:45||GNW||KONE Corporation: Managers' transactions|
|08Nov16 07:45||GNW||KONE's share capital increases through the subscription of shares with 2013 and 2014 option rights|
|31Oct16 09:30||GNW||KONE Corporation: Notice pursuant to the Finnish Securities Market Act, Chapter 9, Section 10|
|27Oct16 01:30||GNW||Change in KONE Corporation's holding of treasury shares|
|26Oct16 10:45||GNW||Financial reporting schedule of KONE Corporation in 2017|
Frequency of research reports
Research reports on
Discrepancy between EBIT’s and operating cash flow’s growth is a bad omen
27 Oct 16
Key information (9m figures): • Orders received declined by 3.8% and 1.2% at comparable exchange rates. • The order book grew by 4.2%. • Net sales grew by 1.7% and 4.0% at comparable exchange rates. • Operating income grew by 4.4%. • Operating margin up by 40bp to 14.6%. • Cash flow generation remained strong over the 9m period but weakened in Q3. • Guidance narrowed.
Chinese NE market declines by 15% in value terms
20 Jul 16
Key information (for the January-June period): • Net sales grew by 3.1% and by 5.2% at comparable exchange rates compared to H1 15. • Operating income grew by 6% and the operating margin was 14.2% vs 13.8% last year. • Net income increased by 11.4% compared to H1 15. • Cash flow from operations increased by 9.6%. • Orders received declined by 5.6% and by 3.1% at comparable exchange rates. • Kone beat Q2 EBIT consensus by 4.5%. • Management slightly upgraded EBIT guidance. Sales guidance unchanged. • Chinese NE market declined by c.7% in volume terms and c.15% in value terms. • Decrease in orders received could translate into a revenue decrease in 2017.
Fears on China return
22 Apr 16
Key information: • Orders received declined by 4.3% at comparable exchange rate compared to Q1 15. • The order book remain stable at €8.5bn but grew by 7.6% at comparable exchange rate. • Net sales grew by 4.2% at comparable exchange rate. • Operating income improved slightly to €221m vs €212m in Q1 15. • Operating margin improved slightly from 12.5% in Q1 15 to 12.7% in Q1 16. • Strong improvement in cash generation at €306m vs €212m in Q1 15. • EPS at €0.37 vs consensus of €0.34 and €0.29 in Q1 15 • Gearing at -53% vs -33% at end of Q1 15.
Good FY performance but China weighing on visibility
29 Jan 16
h1. Key informations: • Order intake grew by 16.8% and 5.6% at comparable exchange rates over FY15. • Order book grew by 18.1% over FY15. • Net sales increased by 17.9% and 8.3% at comparable exchange rates over the FY15. • Operating margin at 14.4% over the FY15 versus 14.1% in FY14. • EPS at €2.01 over FY15. • Cash flow from operations grew by 9.6% over the FY15. • Guidance for 2016: net sales growth of 2-6%, operating income in the range of €1,220-1320m. • The Board proposes a dividend of EUR 1.40 per class B share for the 2015 financial year.
Good performance, China slowing down
22 Oct 15
Key information : • 9m orders received totalled c.€6.0bn, namely growth of 17.7% at historical exchange rates and growth of 5.2% at comparable exchange rates. • The order book stood at €8.35bn as of end of September 2015, i.e growth of 19.4% at historical rates and growth of 13.9% at comparable exchange rates. • 9m net sales at €6,085m, i.e. 17.7% growth at historical exchange rates and growth of 7.2% at comparable exchange rates. • 9m operating income was €863m, or an operating margin of 14.2%. • Strong cash flow from operations of €1,070m over the first 9m. • 9m net income of €680m, or €1.30 EPS.
Strong growth notably due to favorable exchange rate movements
17 Jul 15
Key data: • Orders received grew by 21.7% at historical exchange rates (and by 6.3% at comparable exchange rates). • Order book grew by 32% at historical rates (and by 15% at comparable exchange rates) to EUR 8,627m. • Net sales grew by 19.5% to EUR 2,210m versus EUR 1,849m in Q2 2014. - New equipment sales grew by 22.7% (and by 6.6% at comparable exchange rates). - Service sales grew by 15.3% (and by 7.1% at comparable exchange rates). • Operating margin grew from 14.2% in Q2 2014 to 14.7%. • Cash flow from operations grew from EUR 280.2m to EUR 426m. • Net working capital improved from EUR -698m in Q2 2014 to EUR -940m. • EPS for the quarter at EUR 0.51. Guidance: • Net sales are expected to grow by 6-8% at comparable exchange rates for the full year. • Operating income is expected to be in the range of EUR 1,190m – 1,250m versus previously in the range of EUR 1,140m – 1,230m.
16 Jan 17
We take a look at the rankings of the various countries in Africa that have a significant exposure to mining. We take the Transparency International corruption rankings as our starting point and modify these for exceptional geology and for current UK government travel warnings. Ghana, Botswana and Namibia come out as our top three, with Eritrea, Kenya and Zimbabwe at the bottom of our rankings.
Small Cap Breakfast
17 Jan 17
Global Energy Development (GED.L) — To be renamed Nautilus Marine Services. Schedule 1 from developer and seller of hydrocarbons and related products. Reverse takeover. Raising $10.5m via a convertible. Expected 9 Feb. Eco (Atlantic) Oil & Gas—TSX-V listed oil and gas exploration has announced its intention to float on AIM. Assets in Guyana and Namibia. Proposed £2m-£3m fundraise. Diversified Gas & Oil—According to LSE website first day of trading on AIM now expected for 30 January.
The Slide Rule
12 Jan 17
What is The Slide Rule? The Slide Rule has been designed to dramatically simplify the identification of the best companies in the UK small/mid-cap sector by making a quantitative assessment of the relative potential of each company. At its core, The Slide Rule aims to identify those companies that create genuine shareholder value through strong returns on capital and solid growth, but also present a value opportunity with the potential tailwind of earnings momentum. Companies are assessed within a Quality, Value, Growth and Momentum (QVGM) framework.
19 Jan 17
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Trading conditions difficult but acquisitions underpin growth
23 Jan 17
FY16 revenue will be £53.7m (FY15: £44.8m), in line with ZC estimate of £53.9m, showing growth of c. 20% yoy underpinned by the three acquisitions undertaken in the year. However, due to higher costs relating to the acquisitions and, to a lesser extent, gross margin pressure, PBT will be in the region of £7.0 to £7.2m equating to growth of between 5.5% and 8.0%. As a result, FY16 ZC profit forecast is reduced by 8.0% to £7.0m. The impact in FY18 and FY19 is muted by the announcement of a further acquisition leading to an increase in revenue estimates of 8.7% whilst profit estimates fall c.4.5% in each year, respectively. Despite the decrease in forecasts the PER multiple on FY17 earnings remains single digit at just 9.1x, against a distributor average of 15.8x. With commitment to the forecast dividend increase reiterated, Flowtech offers an above average yield of 4.1%
N+1 Singer - St Ives - Downgrade
19 Jan 17
Marketing activation has been impacted by further decline in grocery retail impacting profit by c£5m. Strategic The Company is also taking this opportunity to revise its guidance for Strategic Marketing as its recovery pace is not running at the planned target rate. PBT falls from N1Se £31.9m to £25m. The Company expects dividend to be held based upon lowered guidance and the implied cash flow performance. There do not appear to be any covenant issues. Forecasts and TP under review and downgrade to Hold. We expect the shares to test the 100p level.