KONE sees positive result in 2021

Finnish elevator and escalator company Kone saw its sales grow by 5.8 percent to 10,514.1 million euros in 2021.

Operating income (EBIT) was 1,295.3 million euros or 12.3 percent of sales, reported Xinhua.

The year 2021 ended on a positive note in many areas, said CEO Henrik Ehrnrooth on Wednesday in a press release. He said it was an unusual year because of the significant disruptions in the global supply chain and the sharp increases in material and component costs.

Demand in the new equipment market increased from 2020 when markets in most regions were heavily impacted by the pandemic.

In China, volumes grew clearly with strong growth in the first half of the year, said the company, adding that the demand for new equipment remained stable in China.

KONE estimated that in 2022, its sales growth would be in the range of two percent to seven percent at comparable exchange rates compared to 2021. The adjusted EBIT is expected to be in the range of 1,180-1,330 million euros, assuming that foreign exchange rates would remain at the January 2022 level.