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KONE Corporation’s Interim Report for January-March 2007

Stock Exchange Release Published 24/04/2007

KONE’s Orders Received Record High

  • Orders received growth was 7 percent, or 10 percent at comparable exchange rates. Orders received totaled EUR 902.1 (840.3) million.
  • Net sales grew by 10 percent to EUR 811.2 (735.0) million; at comparable exchange rates growth was 13 percent.
  • Operating income was EUR -72.7 (51.7) million. Excluding the provision of EUR 142.0 million for the European Commission’s decision to impose a fine to KONE for anticompetitive practices operating income was EUR 69.3 million or 8.5 (7.0) percent of net sales.
  • KONE reiterates its outlook for 2007 and 2008 excluding the provision of EUR 142.0 million.

Key Figures

1-3/20071-3/20061-12/2006
Orders received, MEUR902.1840.33,116.3
Order book, MEUR3,105.72,654.02,762.1
Sales, MEUR811.2735.03,600.8
Operating income, MEUR69.3, x)51.7360.1
Cash flow from operations
(before financing items and taxes), MEUR
142.7117.3371.7
Net income, MEUR-95.031.8234.4
Net debt, MEUR142.3129.7124.9
Total equity/total assets, %20.826.830.5
Gearing, %29.722.617.9

(x Excluding the EUR 142.0 million fine for the European Commission’s decision.

KONE President & CEO, Matti Alahuhta, in conjunction with the review:

“I am very pleased with KONE’s progress during the first quarter of 2007. The highest ever quarterly order intake and continued improvement in operational profitability are clear proof of the ongoing progress in our development programs. We still have significant potential to improve our customer satisfaction and productivity by harmonizing our processes. Bringing more flexibility to our globally standardized products has expanded our accessible markets and increased our competitiveness, hence supporting the order intake growth. We have a good base from which to continue. I thank all the personnel for their dedication and a job well done.”

Analyst and Media Conference and Conference Call

A meeting for the press, conducted in Finnish, will be held on April 24, 2007 at 2:00 PM at KONE Building, Keilasatama 3, Espoo.

A joined analyst meeting and conference call, conducted in English, will be held on April 24, 2007 at 3:30 PM at KONE Building, Keilasatama 3, Espoo. Conference call participants may access the conference directly at the following telephone numbers:

US callers: +1 334 323 6201
Non-US callers: +44 (0)20 7162 0025
Participant code: KONE

The conference call will also be available as a web cast on the company website. An on demand version of the conference will be available at www.kone.com later the same day.

Sender:

KONE Corporation

Aimo Rajahalme
Executive Vice President,
Finance

Minna Mars
Senior Vice President,
Corporate Communications & IR

For further information please contact:

Aimo Rajahalme, Executive Vice President, Finance, tel. +358 (0) 204 75 4484

KONE is one of the world’s leading elevator and escalator companies. It provides its customers with industry-leading elevators and escalators, with innovative solutions for their maintenance and modernization. KONE also provides maintenance of automatic building doors. In 2006, KONE had annual net sales of EUR 3.6 billion and approximately 29,000 employees. Its class B shares are listed on the OMX Nordic Exchange in Helsinki, Finland.

www.kone.com

Attachments:

The entire release in PDF format