KONE Oyj

KONE Corporation announced that BlackRock, Inc. has increased its ownership of KONE shares to over 5% of the company's share capital as of November 12, 2024. This change was reported to KONE in accordance with Finnish securities regulations. BlackRock's total position includes a combination of shares and financial instruments resulting in a total of 5.10% of KONE's share capital. For further details, KONE's Vice President of Investor Relations, Sanna Kaje, can be contacted. KONE is a leading company in the elevator and escalator industry, with significant global operations.

KONE Corporation announced on November 12, 2024, that BlackRock, Inc. and its funds have reduced their ownership in KONE Corporation shares to below 5% of the company's share capital as of November 11, 2024. This change was reported in compliance with the Finnish Securities Market Act. BlackRock's total position in terms of shares and voting rights is now below the 5% threshold. For more information, Sanna Kaje, Vice President of Investor Relations at KONE, can be contacted. KONE is a global leader in the elevator and escalator industry, with significant annual sales and a large workforce worldwide. KONE's class B shares are listed on the Nasdaq Helsinki Ltd. in Finland.

KONE Corporation announced on November 4, 2024, that BlackRock, Inc. and its funds have increased their ownership of KONE shares to above 5% as of November 1, 2024. This change was reported in compliance with the Finnish Securities Market Act. BlackRock's total position includes 5.02% of KONE's share capital, with voting rights below 5%. KONE is a leading global company in the elevator and escalator industry, with significant operations worldwide. For more information, Sanna Kaje, Vice President of Investor Relations, can be contacted.

KONE Corporation has announced its financial reporting schedule for 2025. The Financial Statements Bulletin for 2024 will be released on January 30, 2025, followed by the Annual Review on February 12, 2025. The Interim Report for January-March 2025 is set for April 30, 2025, the Half-year Financial Report for January-June 2025 for July 18, 2025, and the Interim Report for January-September 2025 for October 23, 2025. The Annual General Meeting is planned for March 5, 2025, with the Board of Directors to summon the meeting separately. KONE is a global leader in the elevator and escalator industry, with 2023 sales of EUR 11.0 billion and over 60,000 employees worldwide. Its class B shares are listed on Nasdaq Helsinki Ltd.

KONE Corporation released its interim report for January–September 2024, highlighting continued strong growth in its Service and Modernization sectors. For the full year 2024, KONE expects sales growth of 0–3% at comparable exchange rates and an adjusted EBIT margin of 11.5%–11.9%. The negative impact of foreign exchange rates on adjusted EBIT is estimated to be around EUR 10 million. The company attributes its growth to the positive performance in Service and Modernization and a robust order book, while facing challenges from a declining New Building Solutions market in China. KONE's new strategy, "Rise," aims for mid-single-digit annual sales growth over the next three years and an adjusted EBIT margin of 13-14% by the end of 2027. The company is focusing on transforming its business with Service and Modernization as key drivers and is implementing performance initiatives to improve margins. The global New Building Solutions market showed regional differences, with growth in North America and stability in Europe, while activity in China declined. Service and Modernization markets continued to grow across all regions. KONE plans to hold press and analyst meetings to discuss these updates.