KONE: Weakened China outlook eats into upside
The worsening problems in China's real estate sector have led us to significantly cut our estimates for 2023-2024.
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 Figures2022-08-30
| 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 % | 3.5 % | 3.5 % |
| P/E (adj.) | 31.8 | 28.8 | 25.9 |
| EV/EBITDA | 19.7 | 17.3 | 14.9 |
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