Kone: shares weaken as investor day fails to excite
(CercleFinance.com) - Kone has grown faster than the market in both new equipment and services this year, the Finnish lift maker said at a meeting with investors and analysts in Helsinki today.
"The good growth in all businesses is a direct result of our improved differentiation," CEO Henrik Ehrnrooth said in his speech.
"What I can't be satisfied with is that our profitability has been under pressure since 2017," the executive, added, however.
Kone said that it is continuing to work to counter headwinds, by taking pricing actions and working to improve productivity, with these efforts already resulting in a stabilisation of margins on recent orders.
Looking ahead, the manufacturer of elevators and escalators said it sees good growth opportunities "in all regions and businesses," while highlighting the growth potential of its service business.
The shares are curently down 1.4% at 46.3 euros after these comments.
Copyright (c) 2018 CercleFinance.com. All rights reserved.
"The good growth in all businesses is a direct result of our improved differentiation," CEO Henrik Ehrnrooth said in his speech.
"What I can't be satisfied with is that our profitability has been under pressure since 2017," the executive, added, however.
Kone said that it is continuing to work to counter headwinds, by taking pricing actions and working to improve productivity, with these efforts already resulting in a stabilisation of margins on recent orders.
Looking ahead, the manufacturer of elevators and escalators said it sees good growth opportunities "in all regions and businesses," while highlighting the growth potential of its service business.
The shares are curently down 1.4% at 46.3 euros after these comments.
Copyright (c) 2018 CercleFinance.com. All rights reserved.