January 26, 2012 based on KONE's 
Financial Statement Bulletin 2011Market outlook 2012
The new equipment markets in Asia-Pacific are expected to continue to grow, but at a clearly lower rate than in 2011. In new equipment, the markets in Central and North Europe are expected to remain relatively stable or decline slightly, and the markets in South Europe are expected to decline from an already weak level. The new equipment market in North America is expected to gradually recover from a low level. The modernization markets are expected to be at about the same level as in 2011 or grow slightly. The maintenance markets are expected to continue to develop well.
Business outlook 2012
KONE’s net sales is estimated to grow by 8-13% at comparable exchange rates as compared to 2011.
The operating income (EBIT) is expected to be in the range of EUR 730-790 million, assuming that translation exchange rates do not materially deviate from the situation of the beginning of 2012.
Previous outlooks