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KONE has specified its new long-term financial targets. The new long-term financial targets are:
- Growth: faster than the market
- Profitability: EBIT % 16
- Cash flow: improved working capital rotation
To continuously improve its competitiveness and to enable continuous profitable growth, KONE has defined new development programs. The new development programs are Customer Experience, Employee Engagement, Innovative Solutions for People Flow™, Service Leadership and Delivery Chain Excellence.
The new long-term financial targets replace the previous targets set in May 2008. The targets set in May 2008 were to grow faster than the market, to reach an EBIT margin of 14% and to improve working capital. KONE has since 2008 grown faster than the overall market. The EBIT margin target of 14% was achieved in 2010. KONE’s net working capital has improved from -122 MEUR in the beginning of 2008 to -394 at the end of 2010.
KONE is one of the global leaders in the elevator and escalator industry. The company has been committed to understanding the needs of its customers for the past century, providing industry-leading elevators, escalators and automatic building doors as well as innovative solutions for modernization and maintenance. The company’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. In 2010, KONE had annual net sales of EUR 5.0 billion and approximately 33,800 employees. KONE class B shares are listed on the NASDAQ OMX Helsinki Ltd in Finland.
For further information, please contact:
Henrik Ehrnrooth, CFO, tel. +358 204 75 4260
Executive Vice President
Marketing and Communications