Kone: Q2 sales down 15.2%

(CercleFinance.com) - Kone has announced net sales and adjusted EBIT that have been "significantly impacted" by the COVID-19-related confinements in China in Q2, with net sales in China collapsing around 40% at comparable exchange rates.


According to Kone's preliminary Q2 data, total sales for the period were 2.5 billion euros, down 15.2% at comparable exchange rates.

Meanwhile, Q2 adjusted EBIT reached 209 million euros, down 44%.

As a result, Kone has reduced its full-year sales and adjusted EBIT outlook and is now targeting 2022 sales growth of -1% and +3% at comparable exchange rates y-o-y, compared with the previous more optimistic estimate of +2% to +5%.

Adjusted EBIT is expected at 1130-1210 million euros, compared to the previous estimate of 1180-1280 million euros.


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