Q1 2020 RESULTS

UPDATED: APRIL 30, 2020

Governments across the world are taking significant measures to contain the COVID-19 outbreak by restricting the movement of people. In many places, this has also resulted in measures that impact KONE’s business such as closing down construction sites, limiting manufacturing operations and in some cases even limiting the maintenance activities. The extent of the measures varies from one country to another and the situation changes on a daily basis. In Q1, the restrictions were strictest in China, but there KONE has already seen recovery and activity has been at a high level in April. In the rest of the world, the restrictions increased towards the end of March and have had a significant impact on KONE in April.

Our priority is to ensure the health and wellbeing of our people and to minimize impact to customers. We are taking strong actions to manage the situation both at the local and global levels and following the instructions from the local governments and health authorities.

Our robust global supply chain and global product platforms are the key enablers in mitigating the impacts to our customers. We have altogether 13 manufacturing units in nine countries and multiple distribution centers and suppliers across the globe. Overall, our delivery capabilities have recovered well in China since February and have been stable in other countries with the exception of India, where the country is in lock-down until early May.

Despite the short term disruptions to its business, KONE expects to come out of the demanding situation in a position of strength. KONE’s competitiveness is solid and the balance sheet is strong. KONE also has a solid order book and the fundamental growth drivers for the service business are intact.

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UPDATED: APRIL 22, 2020

KONE Corporation publish its Interim Report for the January 1-March 31, 2020 accounting period on Wednesday, April 22, 2020 at 12:30 p.m. EEST.

Interim report Q1 2020
Result presentation
Main tables in excel

Listen to audiocast

Sustainability report

KONE Corporation publish its Sustainability report 2019 on Wednesday, April 22, 2020.

Sustainability report 2019

Subsequent Financial Reports in 2020

Half-year Financial Report for January-June 2020 July 17, 2020
Interim Report for January-September 2020 October 22, 2020

UPDATED: MARCH 31, 2020

KONE IR Insights is a podcast provided by KONE's investor relations team.

We have now published Episode 4. In addition to discussing impacts of COVID-19, we talk about the cyclicality of KONE's business and walk through examples of KONE's performance in previous downturns.

In Episode 3, we discussed sustainability with KONE's Environmental Director Hanna Uusitalo.

In Episode 2, we discussed strategy with President and CEO Henrik Ehrnrooth.

In Episode 1, we discussed takeaways from our recent investor meetings in Singapore, Hong Kong, Chicago, New York and London.

You can find all episodes here.