Kone Expects 2024 Sales To Grow 0-3% At Comparable Exchange Rates
Oct 24 (Reuters) -Kone Oyj KNEBV.HE:
EXPECTS ITS SALES TO GROW 0-3% AT COMPARABLE EXCHANGE RATES IN 2024.
2024 ADJUSTED EBIT MARGIN IS EXPECTED TO BE IN RANGE OF 11.5%-11.9%
NEGATIVE IMPACT OF FOREIGN EXCHANGE RATES ON ADJUSTED EBIT WOULD BE APPROXIMATELY EUR 10 MILLION IN 2024
IN CHINA, CHALLENGES IN PROPERTY MARKET INTENSIFIED
OUR GROWTH WAS FASTEST IN MIDDLE EAST, SOUTH-EAST ASIA, INDIA AND NORTH AMERICA
POSITIVE DEVELOPMENT IN ADJUSTED EBIT MARGIN WAS DRIVEN BY IMPROVED MARGIN IN OUR DELIVERIES OUTSIDE CHINA, BETTER BUSINESS MIX
WE SAW A DECLINE IN OUR MARGIN IN CHINA, INCREASE IN BAD DEBT PROVISIONS AND COST INCREASES DRIVEN BY INFLATION
WE ARE LAUNCHING PROGRAMS TO ADDRESS SALES AND OPERATIONS EXCELLENCE AND PROCUREMENT EFFICIENCY
MARKET OUTLOOK 2024 UNCHANGED
Source text for Eikon: ID:nWkr33fsHv
Further company coverage: KNEBV.HE
(Gdansk Newsroom)
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