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    KNEBV   FI0009013403

KONE OYJ

(KNEBV)
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Real-time Estimate Cboe Europe  -  09:57 2022-08-09 am EDT
41.70 EUR   -1.42%
08/08KONE CORPORATION : RBC sticks Neutral
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07/28KONE CORPORATION : Goldman Sachs keeps a Sell rating
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07/21KONE CORPORATION : RBC sticks Neutral
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Elevator maker Kone divests Russia business

06/28/2022 | 02:52am EDT
Logo is displayed in an elevator at the KONE Academy of Finish manufacturer KONE in Hanover

COPENHAGEN (Reuters) - Finnish elevator maker Kone said on Tuesday it will sell its business in Russia to local management for an undisclosed amount.

The firm had already reduced its activities after Russia's invasion of Ukraine, it said in a statement, adding that Russia accounts for less than 1% of its global sales.

The deal is expected to close in the fourth quarter after which the business will operate independently under a different brand.

As part of the proposals, KONE has agreed to deliver spare parts to Russia for a transition period of up to three months after the closing.

(Reporting by Stine Jacobsen, editing by Terje Solsvik)


© Reuters 2022
All news about KONE OYJ
08/08KONE CORPORATION : RBC sticks Neutral
MD
07/28KONE CORPORATION : Goldman Sachs keeps a Sell rating
MD
07/21KONE CORPORATION : RBC sticks Neutral
MD
07/21KONE CORPORATION : JP Morgan reiterates its Buy rating
MD
07/21KONE CORPORATION : Credit Suisse reiterates its Buy rating
MD
07/21KONE CORPORATION : UBS remains its Buy rating
MD
07/21Change in KONE Corporation's holding of treasury shares
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07/20TRANSCRIPT : KONE Oyj, H1 2022 Earnings Call, Jul 20, 2022
CI
07/20KONE H1 Earnings Slump Due to China Lockdowns; FY22 Guidance Cut
MT
07/20KONE Slashes FY22 Guidance as China Lockdowns Hit H1 Earnings
MT
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Analyst Recommendations on KONE OYJ
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Financials
Sales 2022 11 016 M 11 259 M 11 259 M
Net income 2022 892 M 912 M 912 M
Net cash 2022 2 170 M 2 218 M 2 218 M
P/E ratio 2022 24,9x
Yield 2022 4,22%
Capitalization 21 919 M 22 400 M 22 400 M
EV / Sales 2022 1,79x
EV / Sales 2023 1,70x
Nbr of Employees 63 106
Free-Float 59,3%
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Mean consensus OUTPERFORM
Number of Analysts 23
Last Close Price 42,30 €
Average target price 52,46 €
Spread / Average Target 24,0%
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Managers and Directors
Henrik Georg Fredrik Ehrnrooth President & Chief Executive Officer
Ilkka Hara Chief Financial Officer
Antti Juhani Herlin Chief Executive Officer & Deputy Chairman
Maciej Kranz Chief Technology Officer & Executive VP
Matti Juhani Alahuhta Director
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