KONE’s 4Q 2024 Earnings Beat Estimate

Finnish OEM KONE posted 4^th Quarter (4Q) 2024 earnings on January 30 that were above estimates and expects its adjusted profit margin to improve in 2025 and its sales to grow slightly, Reuters is among outlets to reports. KONE CEO Philippe Delorme said the company continues to grow at a healthy rate, with orders increasing more than 10% outside of China. To offset lagging demand for its main business in new installations and a decline in China, KONE has been focusing on modernization and maintenance. The company realized an adjusted operating profit of EUR386.5 million (US$402.9 million) for October-December 2024, beating its projected estimate of EUR379.2 million (US$395.2 million).