H1 2020 RESULTS

PUBLISHED: JULY 17, 2020

Half-year Financial Report

KONE Corporation published its Half-year Financial Report for the January 1-June 30, 2020 accounting period on Friday, July 17, 2020 at 12:30 p.m. EEST.

Half-year Financial Report
Result presentation
Main tables in excel

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Subsequent Financial Reports in 2020

Interim Report for January-September 2020 October 22, 2020

UPDATED: JUNE 23, 2020

Governments across the world have been taking significant measures to contain the COVID-19 outbreak by restricting the movement of people. In many places, this has also resulted in measures that have impacted KONE’s business such as closing down construction sites, limiting manufacturing operations and in some cases even limiting the maintenance activities. The extent of the measures has varied from one country to another and the situation continues to be fluid. In Q1, the restrictions were strictest in China, but there KONE saw quick recovery and activity has been at a high level in April and May. In the rest of the world, the restrictions increased towards the end of March had a significant impact on KONE in April and were gradually eased in some countries in May while some countries continue to be more impacted.

Our priority is to ensure the health and wellbeing of our people and to support our customers in the challenging situation. At the same time, we are investing in the future and even accelerating some development initiatives.

Our robust global supply chain and global product platforms have been the key enablers in mitigating the impacts to our customers. We have altogether 13 manufacturing units in nine countries and multiple distribution centers and suppliers across the globe. Overall, our delivery capability remains good and all our manufacturing units are operational.

Despite the short-term disruptions to its business, KONE expects to come out of the demanding situation in a position of strength. KONE’s competitiveness is solid and the balance sheet is strong. KONE also has a solid order book and the fundamental growth drivers for the service business are intact.

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PUBLISHED: JUNE 23, 2020

KONE will host its 2020 Capital Markets Day in virtual form on September 29.

Date: Tuesday, September 29, 2020, afternoon Finnish time
Location: Virtual event, details to be provided later

Further information on the schedules and practicalities will be given in due course.