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MarketScreener Homepage  >  Equities  >  NASDAQ OMX HELSINKI LTD.  >  Kone Oyj    KNEBV   FI0009013403


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Kone Oyj : to start a program in Finland, focused on harnessing global research and development expertise, to create more sustainable, resilient and inclusive cities

11/30/2020 | 06:01am EST

KONE, a global leader in the elevator and escalator industry, will start a new innovation program in Finland, focused on sustainable people flow and new technologies for smoother and safer urban living. The new program will draw on expertise from a variety of companies and organizations, to address some of the key ecological, social and economic challenges and opportunities created by urbanization.

Funded by Business Finland, the program is part of the "Veturi" initiative, where international companies are invited to solve some of society's most pressing challenges, through increased research, development and innovation investments in Finland.

"The technologies developed in the program will allow new types of solutions, services and business models to mature. Both during the project as well as after its commercialization, our aim is to create employment and export opportunities for Finland. We plan to take a comprehensive approach with the program execution, from multidisciplinary research and development activities to building an extensive global ecosystem of partners and customers," says Rauno Hatakka, Head of Technology Management at KONE Corporation.

"To help create resilient and inclusive cities that continue to grow and evolve, it becomes crucial to create a smooth and sustainable flow for people and goods. This can be achieved by using emerging data sources - from planning and construction activities, to how buildings and districts are used, renovated and upgraded, all the way to demolition and recycling," continues Hatakka.

The program will enable KONE and its network of partners to increase the scope of research, development and innovation operations in Finland. The aim is that this, in turn, will increase and promote the competitiveness of Finnish industry and research institutes, creating opportunities for existing companies and new start-ups.

KONE's work in this area will contribute to the Finnish government's targets for carbon neutrality by 2035. The aim is for the solutions to be used globally and play a strong role in the transformation and development of cities, making them more sustainable, resilient and inclusive. Finland's efficient industrial and research ecosystem provide excellent preconditions for the achievement of these goals.

For further information, please contact:

Hanna Rutanen, Director, External Communications, KONE Corporation, tel. +358 41 507 1361, media@kone.com

Read more

About Business Finland: https://www.businessfinland.fi/en/for-finnish-customers/about-us/in-brief

Previous KONE press releases are available at https://www.kone.com/en/news-and-insights/releases/ including:

September 28, 2020: KONE sets ambitious greenhouse gas reduction targets and pledges to have carbon neutral operations by 2030

May 11, 2020: KONE introduces solutions for healthier and safer people flow environments

November 29, 2019: KONE DX Class elevators take the industry into a new era - the world's first elevator series with built-in digital connectivity as standard

About KONE

At KONE, our mission is to improve the flow of urban life. As a global leader in the elevator and escalator industry, KONE provides elevators, escalators and automatic building doors, as well as solutions for maintenance and modernization to add value to buildings throughout their life cycle. Through more effective People Flow®, we make people's journeys safe, convenient and reliable, in taller, smarter buildings. In 2019, KONE had annual sales of EUR 10 billion, and at the end of the year approximately 60,000 employees. KONE class B shares are listed on the Nasdaq Helsinki Ltd. in Finland.



(C) 2020 M2 COMMUNICATIONS, source M2 PressWIRE

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Sales 2020 10 019 M 12 121 M 12 121 M
Net income 2020 945 M 1 143 M 1 143 M
Net cash 2020 1 929 M 2 334 M 2 334 M
P/E ratio 2020 36,4x
Yield 2020 2,62%
Capitalization 34 369 M 41 574 M 41 580 M
EV / Sales 2020 3,24x
EV / Sales 2021 3,09x
Nbr of Employees 60 592
Free-Float 60,5%
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Mean consensus UNDERPERFORM
Number of Analysts 26
Average target price 63,15 €
Last Close Price 66,30 €
Spread / Highest target 16,1%
Spread / Average Target -4,74%
Spread / Lowest Target -31,8%
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Henrik Georg Fredrik Ehrnrooth President & Chief Executive Officer
Antti Juhani Herlin Chairman
Ilkka Hara Chief Financial Officer
Maciej Kranz Chief Technology Officer & Executive VP
Matti Juhani Alahuhta Independent Director
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