The following is excerpted from the question-and-answer section of the transcript.
(Questions from industry analysts are provided in full, but answers are omitted - download the transcript to see the full question-and-answer session)
Question: Joel Adam Spungin - Joh. Berenberg, Gossler & Co. KG, Research Division - Analyst
: I just had a couple actually. I was just wondering if I could start by asking, with regards to your orders received, just to help me understand a little
bit more, obviously, 1.3% in the quarter. If I look at your chart on Slide 13. Obviously, you only read in one area in terms of new equipment, which
was Americas.
I mean given the relative size of Americas versus China, was there something unusual in the comp in Americas that explains why it was so weak in
Q1? Or is that not what's sort of underpinning this?
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APRIL 28, 2021 / 12:45PM, KNEBV.HE - Q1 2021 Kone Oyj Earnings Call
Question: Joel Adam Spungin - Joh. Berenberg, Gossler & Co. KG, Research Division - Analyst
: Okay. Okay. And then maybe just moving on. I was wondering if I could ask, in terms of your comments around, obviously, the -- you talked a lot
about the margin on new orders received. Could you maybe -- I think in the statement, you talked about it, obviously on a year-on-year basis, but
sequentially, has there been any significant change compared to Q4? I'm just trying to get a sense of what the trend was. And I mean the reason
I'm asking, obviously, is Otis commented on Monday that they've seen some easing in pricing Q1 versus Q4 2020.
So just trying to reconcile whether that's also what you've seen or not?
Question: Joel Adam Spungin - Joh. Berenberg, Gossler & Co. KG, Research Division - Analyst
: Okay. That's very helpful. And then maybe just one quick final one. I'm just wondering if you could just remind us, during 2020, did you offer any
rebates to maintenance customers? And if so, have those all now been fully reversed out?
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