Kone: Q1 sales up 9.1%
(CercleFinance.com) - Kone today published an interim financial report for the first quarter of 2021.
Sales reached 2.3 billion euros over the period, up 9.1% (at comparable exchange rates) compared to Q1 2020.
Meanwhile, adjusted EBIT reached 249.8 million euros, up 21.5% year-on-year.
Net profit came in at 195.5 million euros, up 27.9% y-o-y, representing EPS of 0.37 euro, above the consensus.
Kone expects 2021 sales growth of between 2% and 6% at comparable exchange rates.
The Finnish lift maker says it has a strong order book and maintenance base for 2021, which it says should support profitability as well as a continued improvement in quality and productivity.
However, after first rising today the lift is now plummeting - down over 5% at lunchtime on Wedneday.
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