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: Andrew J. Wilson - JPMorgan Chase & Co, Research Division - Analyst
: Firstly, just on the maintenance growth, which you've healthily broken down there. I guess my question is, it's quite broad. So I guess you can
approach it as you like. But how -- why wouldn't I think that, that kind of 9% growth number would be sustainable as we go through the year on
the maintenance side? Because kind of to the breakdown you've given, 24/7 is a tailwind. The unit growth I guess, is the question what you need
to continue. And I guess pricing, I know lots of these contracts can be annual and therefore, they're locked in. So I guess is there any reason why I
shouldn't be as positive and if it's not 9%, then say, high single digits as an example, when I think about the maintenance business in '23?
Question: Andrew J. Wilson - JPMorgan Chase & Co, Research Division - Analyst
: Yes. That's very helpful. And just as my follow-up and is it's really just to check a comment on the last question, actually. Just on the labor cost, Ilkka.
I think from memory, you said something around EUR 100 million or so or just over EUR 100 million headwind for '23 and the bridge on lever is
that still a sensible number? Or did I get that in the right start with, I guess?
Ilkka Hara - KONE Oyj - Interim Leader of South Europe & Mediterranean Region, Executive VP, CFO & Member of Executive Board
You have a very good memory. That is a good number to be used.
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APRIL 26, 2023 / 12:45PM, KNEBV.HE - Q1 2023 Kone Oyj Earnings Call
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