Research
KONE: Weakened China outlook eats into upside

By Erkki VesolaAnalyst
The worsening problems in China's real estate sector have led us to significantly cut our estimates for 2023-2024.
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Kone is a manufacturer of elevators, escalators and automatic doors. Other related products and systems provided by the company include barriers, docking systems and traffic gates. The company's products are sold in all global regions through authorized distributors. Kone was founded in 1910 and is headquartered in Espoo.
Read more on company pageKey Estimate Figures30.08.2022
| 2021 | 22e | 23e | |
|---|---|---|---|
| Revenue | 10,514.1 | 10,887.6 | 10,760.0 |
| growth-% | 5.8 % | 3.6 % | -1.2 % |
| EBIT (adj.) | 1,309.8 | 1,138.7 | 1,275.9 |
| EBIT-% (adj.) | 12.5 % | 10.5 % | 11.9 % |
| EPS (adj.) | 1.98 | 1.70 | 1.89 |
| Dividend | 2.10 | 1.70 | 1.70 |
| Dividend % | 3.3 % | 3.1 % | 3.1 % |
| P/E (adj.) | 31.8 | 32.4 | 29.1 |
| EV/EBITDA | 19.7 | 19.6 | 16.9 |
Forum discussions
Complaint and authority processes are an integral part of various industries when the world’s leading players operate with each other. Even ...
3/25/2026, 5:58 PM
by DefensiveAttitude
1
Here are Aapeli’s fresh comments regarding the rumored merger of KONE and TK Elevator. Inderes KONEen ja TK Elevatorin huhutuille yhdistymishaaveille...
3/25/2026, 7:50 AM
by Sijoittaja-alokas
6
Here are Viljakainen’s comments on reports from Bloomberg and Reuters that KONE might be looking to acquire TK Elevator. According to news from...
3/17/2026, 6:33 AM
by Sijoittaja-alokas
9
CEO and CFO review from the Annual General Meeting held last week. Inderes KONEen yhtiökokous | Toimitusjohtajan ja talousjohtajan katsaus 5...
3/12/2026, 10:09 AM
by Sara Antonacci
4