KONE - INVESTORS HOME INVESTORS KONE AS AN INVESTMENT WHY INVEST IN KONE? WHY INVEST IN KONE? KONE is one of the leading companies in the elevator and escalator industry, with globally diversified operations The growth of the elevator and escalator industry is driven by three key megatrends, urbanization, sustainability and technology. Wide global exposure and strong position in the key growth markets The global scale of the business provides stability: KONE is present in the Europe, Middle East and Africa area (39% of sales in 2020), Asia-Pacific (41%) and North America (20%). KONE is one of the leading companies in the industry and has a strong market position especially in the growing Asian markets. EMEA NORTH AMERICA CHINA REST OF ASIA-PACIFIC New equipment #2 #4 #1 #2 Maintenance #3 #4 #1 Shared #2 A life-cycle business with high share of stable service revenue KONE’s business model is to provide solutions for the full lifecycle of equipment, starting from the sale of new equipment, through maintenance and modernization. Strong megatrends supporting new equipment market growth, which feeds into growth of equipment in maintenance. The installed base of elevators and escalators is aging, providing a growing need of equipment modernization. Read more about our business model Driving competitiveness through customer centricity, innovation and productivity We retain our challenger attitude and develop our competitiveness by continuously looking for new ways to add value for our customers with our services and solutions. We also systematically strive to improve productivity and quality. We are proud of our innovation track record. With over 5,000 granted or pending patents across our businesses, we consider ourselves the innovation leader in our industry and with our partners, we constantly strengthen this position. KONE’s innovative solutions include breakthrough technologies such as the machine-room-less elevator and a superlight hoisting rope that enables elevator travel of up to 1 kilometer. With constant development of competitiveness, KONE has grown faster than the market. Capital-light and cash-generative business model Low amount of fixed assets required KONE’s business is capital-light. We have manufacturing units in all the key regions. However, we also cooperate with many component suppliers. As a result, the level of tangible and intangible assets is relatively low in the business Strong cash generation and good dividend yield We receive advance and progress payments from our customers across businesses and geographies. This enables us to have negative net working capital and strong cash generation. The cash generative business model has enabled steadily developing dividends for shareholders. High return on capital employed Good profitability combined with our capital light business model enables high return on capital. Calculation of return on capital employed = [(net income + financing expenses) / (equity + Interest-bearing-debt (average of the figures for the accounting period))] x 100 Key figures and ratios For interactive analysis options, see Key figures. 2020 2019 2018 2017* 2016 2015 2014 2013 Orders received MEUR 8,185 8,400 7,797 7,554 7,621 7,959 6,813 6,151 Sales MEUR 9,939 9,982 9,071 8,797* 8,784 8,647 7,334 6,933 EBIT MEUR 1,213 1,192 1,042 1,192* 1,293 1,241 1,036 953 Adjusted EBIT 4) MEUR 1,251 1,237 1,112 1,206* - - - - Cash flow from operations (before financing items and taxes) MEUR 1,908 1,550 1,150 1,263 1,509 1,474 1,345 1,213 Net working capital 1) 2) MEUR -1,160 -856 -758 -876 -1,055 -983 -750 -612 Fixed assets 1) MEUR 710 742 397 377 368 345 317 270 Assets employed 1) 2) MEUR 1,243 1,640 1,377 1,339* 1,108 1,063 1,151 1,103 Total equity 1) MEUR 3,197 3,193 3,081 3,029* 2,796 2,576 2,062 1,725 Net debt 1) MEUR -1,954 -1,553 -1,704 -1,690 -1,688 -1,513 -912 -622 ROE % 29.7 30.1 27.7 32.1* 38.1 45.4 40.9 40.1 ROCE % 25.0 25.1 25.0 28.8* 34.1 41.7 37.7 36.3 Gearing 1) % -61.1 -48.6 -55.3 -55.8* -60.4 -58.7 -44.2 -36.1 Basic EPS EUR 1.81 1.80 1.63 1.86* 2.00 2.01 (5 1.47 1.37 Basic dividend per B share 3) EUR 1.75 1.70 1.65 1.65 1.55 1.40 1.20 1.00 Comparative figures for 2012 have been restated according to the revised IAS 19 'Employee Benefits'. 1) At the end of the period; 2) Including tax receivables and liabilities, accrued interest and derivative items; 3) In addition, KONE has distributed extraordinary dividends, EUR 0.33 for 2009, EUR 0.75 for 2011 and EUR 0.65 for 2012. 2020 basic dividend is Board's proposal to the AGM. Additionally, Board has proposed an extraordinary dividend of EUR 0.50 for 2020 to the AGM. 4) In September 2017, KONE introduced a new alternative performance measure, adjusted EBIT, to enhance comparability of the business performance between reporting periods during the Accelerate program. Restructuring costs related to the Accelerate program are excluded from the calculation of the adjusted EBIT. 5) Basic earnings per share excluding the extraordinary dividend from Toshiba Elevator and Building Systems Corporation (TELC) was EUR 1.79 in 2015. *KONE has applied new IFRS 15 and IFRS 9 standards from January 1, 2018 onwards and some of the 2017 financials are restated retrospectively. We use cookies to optimize site functionality and to give you the best possible experience while browsing our site. If you are fine with this and accept all cookies, just click the 'Accept' button. You can also review our privacy statement. Manage cookie preferences Accept only mandatory Accept all COMPANY Vision and strategy Culture Organization and management History Innovations PRODUCTS & SERVICES Elevators, escalators and automatic doors Maintenance and modernization Advanced people flow solutions People Flow Planning and Consulting For special buildings and large projects Solutions for greener buildings Cybersecurity in our digital solutions CAREERS Open positions Professionals and technical experts Students and graduates We offer Recruitment process FAQ INVESTORS KONE as an investment Financials and outlook Reports and presentations KONE Share Shareholders Capital Markets Days Annual general meetings Governance Investor service SUSTAINABILITY Environment Diversity and inclusion Ethics and compliance Safety and quality Our Sustainability Report Sustainability recognition REFERENCES NEWS & INSIGHTS Releases Stories Podcasts Publications QUICK LINKS Contact us Working at KONE For Suppliers For Distributors For Developers Follow us on social media Legal notice Data File Description Privacy Statement Enviromental Notice Manage cookie preference KONE Corporation Finland, KONE Oyj, Keilasatama 3, P.O. Box 7, Espoo, 02150, Finland (苏ICP备17069255号-2 | 沪公网安备 31010502002858号)