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Kone: Q1 net profit down 32.7%

( - Kone has announced Q1 2022 sales of 2,442 MILLION EUROS, up 5% y-o-y (2,326 million euros).

At comparable exchange rates, however, sales were down slightly (-0.4%).

Adjusted EBIT reached 196.5 million euros, compared with 249.8 million euros a year earlier, i.e. down 21.4%.

Net profit came in at 131.5 million euros, down 32.7% y-o-y, corresponding to EPS of 0.25 euro (compared to 0.37 euro previously).

In the currently uncertain environment, Kone expects sales growth of 2%-5% in 2022, and adjusted EBIT of 1,180 to 1,280 million euros.

The market seems to be focusing on the positives however, with the share up a floor this afternoon (+1.8%).

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