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KONE Corporation, stock exchange release, December 25, 2015 at 1.45 p.m. EET
KONE receives a one-time gain in financing income to be booked in the Q4 2015 result
The Extraordinary General Meeting of Toshiba Elevator and Building Systems Corporation (TELC) has made a decision to distribute the proceeds from the sale of its previously held stake in the share capital of KONE Corporation to the shareholders of TELC as an extraordinary dividend. KONE is a shareholder in TELC with a 19.9% stake in the company's share capital. The corresponding extraordinary dividend to be distributed to KONE amounts to approximately EUR 120 million.
KONE will book this one-time financial gain as financing income in the fourth quarter of 2015. Consequently, this one-time financial gain will not have an impact on KONE's outlook for sales and EBIT for the financial year 2015. It will however have a one-time positive impact of roughly EUR 110 million on the company's net income in the fourth quarter of 2015.
For further information, please contact:
Katri Saarenheimo, Director, Investor Relations, tel. +358 (0)204 75 4705
Legal Affairs, M&A and Strategic Alliances
KONE is one of the global leaders in the elevator and escalator industry. KONE's objective is to offer the best People Flow® experience by developing and delivering solutions that enable people to move smoothly, safely, comfortably and without waiting in buildings in an increasingly urbanizing environment. KONE provides industry-leading elevators, escalators, automatic building doors and integrated solutions to enhance the People Flow in and between buildings. KONE's services cover the entire lifetime of a building, from the design phase to maintenance, repairs and modernization solutions. In 2014, KONE had annual net sales of EUR 7.3 billion, and at the end of the year over 47,000 employees. KONE class B shares are listed on the NASDAQ Helsinki Ltd. in Finland.