TKE Achieves Sales Growth, Milestones Despite Challenges

Despite challenges presented by the pandemic, materials cost inflation and supply-chain bottlenecks, TK Elevator (TKE) said on December 15 it realized sales growth and achieved key strategic goals during the 2020-21 financial year that ended September 30, 2021 — its first full year as an independent company. Order intake increased by 5% to EUR8.1 billion (US$1.12 billion) and sales rose by 4%, driven particularly by double-digit growth in China and the Home Solutions division, to EUR8 billion (US$9 billion). Adjusted EBITDA (earnings before interest, taxes, depreciation, and amortization) increased to more than EUR1.1 billion (US$1.24 billion) in 2020-21, “significantly exceeding the result of the previous two years,” TKE observed. Other achievements included further developing and rolling out the MAX cloud-based solution; enabling configuration of a 3D model of the ropeless MULTI elevator system using DigiPara’s Liftdesigner software and showcasing MULTI at the German Pavilion at Expo 2020 in Dubai, garnering recognition for sustainability progress; tapping two chief operating officers, Vincent Della Valle as COO, Operations, and TKE North America President and CEO Kevin Lavallee as COO, Field; and successfully rebranding and winning awards for the new brand design.