Kone Oyj Q3 2021 Earnings Call Transcript - Thomson StreetEvents

Kone Oyj Q3 2021 Earnings Call Transcript

Kone Oyj Q3 2021 Earnings Call Transcript - Thomson StreetEvents
Kone Oyj Q3 2021 Earnings Call Transcript
Published Oct 28, 2021
21 pages (13619 words) — Published Oct 28, 2021
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Abstract:

Edited Transcript of KNEBV.HE earnings conference call or presentation 28-Oct-21 12:45pm GMT

  
Brief Excerpt:

...Welcome to KONE's third quarter earnings call. My name is Natalia Valtasaari. I'm Head of Investor Relations here at KONE. And I'm joined here today by Henrik Ehrnrooth, our President and CEO; and Ilkka Hara, our CFO. As usual, Henrik will start by talking about the third quarter highlights, both business and financial. Ilkka will then dive deeply or a bit more deeply into the financials, and Henrik will follow that up with the business outlook and market outlook. And then we'll be ready to take your questions. But with that, I will let Henrik take over. Henrik Ehrnrooth ...

  
Report Type:

Transcript

Source:
Thomson StreetEvents
Company:
Kone Oyj
Ticker
KNEBV.HE
Time
12:45pm GMT
Format:
PDF Adobe Acrobat
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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 : I guess probably, predictably, I'd like to start on China, if possible. Apologies for that, I'm sure. But if we take just your comments on China in 2022, Henrik, is that a comment talking about being slightly down year-on-year? Is that a comment on new equipment or on the whole China franchise, so including the service components as well?

Question: Andrew J. Wilson - JPMorgan Chase & Co, Research Division - Analyst : Yes. Okay. So I guess, you take that as the new equipment comment. In terms of the -- and I guess it's sort of linked quite nicely to my second question. It seems that the outperformance from KONE versus the market in China was pretty evident in the Q3. Can you just talk about sort of what drove the outperformance, if there's anything you particularly flag them? And I guess, where do you think it can continue?

Question: Andrew J. Wilson - JPMorgan Chase & Co, Research Division - Analyst : Okay. And maybe if I can just slide one final one in. Just on the comment around the cost headwinds sort of flowing into 2022. I don't know if you could kind of give us a preliminary idea maybe on what that 2022 headwind might look like, obviously, realizing it's more concentrated on the first half than the second half?

Question: Joel Adam Spungin - Joh. Berenberg, Gossler & Co. KG, Research Division - Analyst : Just a couple of questions. Maybe if I can just start on modernization. And obviously, I'm just curious to know, obviously, you grew 1% at constant currency in the third quarter in modernization, probably a little bit less than I was expecting, certainly. Is there any specific issues that you're encountering in terms of the modernization business either in terms of delays to orders being executed or anything like that? And do you think that this is still a market that has space to recover as we move into 2022?

Question: Joel Adam Spungin - Joh. Berenberg, Gossler & Co. KG, Research Division - Analyst : Okay. So it's predominantly a timing effect rather than anything else at this stage?

Question: Joel Adam Spungin - Joh. Berenberg, Gossler & Co. KG, Research Division - Analyst : Okay. And then maybe just one more on China. I was wondering maybe -- I'm sure you're not going to name names, but just in terms of your -- the risk in the China business from specific developers, are you able to maybe put into context what your exposure either directly or indirectly to developers who are in breach of the 3 red lines currently is? Is that something you have to end?

Question: Joel Adam Spungin - Joh. Berenberg, Gossler & Co. KG, Research Division - Analyst : Chinese turnover. Okay.

Question: Tomi Markus Railo - DNB Markets, Research Division - Analyst : This is Tomi from DNB. On China, I was wondering if you could comment monthly development in the Chinese elevator market July, August, September. How did you see the markets developing during the quarter monthly? And maybe how has the October started?

Question: Tomi Markus Railo - DNB Markets, Research Division - Analyst : But in terms of the market, did you sort of -- would it be fair to assume that July was maybe still strong, then you started to see weakening towards the end of the quarter in the marketplace?

Table Of Contents

Kone Oyj Q3 2022 Earnings Call Transcript – 2022-10-27 – US$ 54.00 – Edited Transcript of KNEBV.HE earnings conference call or presentation 27-Oct-22 12:45pm GMT

Kone Oyj Q2 2022 Earnings Call Transcript – 2022-07-20 – US$ 54.00 – Edited Transcript of KNEBV.HE earnings conference call or presentation 20-Jul-22 12:45pm GMT

Kone Oyj Capital Markets Day Transcript – 2022-06-01 – US$ 54.00 – Edited Transcript of KNEBV.HE corporate analyst meeting</ 1-Jun-22 5:30am GMT

Kone Oyj Q1 2022 Earnings Call Transcript – 2022-04-27 – US$ 54.00 – Edited Transcript of KNEBV.HE earnings conference call or presentation 27-Apr-22 12:45pm GMT

Kone Oyj Q4 2021 Earnings Call Transcript – 2022-02-02 – US$ 54.00 – Edited Transcript of KNEBV.HE earnings conference call or presentation 2-Feb-22 1:45pm GMT

Kone Oyj Q2 2021 Earnings Call Transcript – 2021-07-20 – US$ 54.00 – Edited Transcript of KNEBV.HE earnings conference call or presentation 20-Jul-21 12:45pm GMT

Kone Oyj Q1 2021 Earnings Call Transcript – 2021-04-28 – US$ 54.00 – Edited Transcript of KNEBV.HE earnings conference call or presentation 28-Apr-21 12:45pm GMT

Kone Oyj Q4 2020 Earnings Call Transcript – 2021-01-28 – US$ 54.00 – Edited Transcript of KNEBV.HE earnings conference call or presentation 28-Jan-21 1:45pm GMT

Kone Oyj Q3 2020 Earnings Call Transcript – 2020-10-22 – US$ 54.00 – Edited Transcript of KNEBV.HE earnings conference call or presentation 22-Oct-20 12:45pm GMT

Kone Oyj Virtual Capital Markets Day Transcript – 2020-09-29 – US$ 54.00 – Edited Transcript of KNEBV.HE corporate analyst meeting</ 29-Sep-20 11:00am GMT

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Thomson StreetEvents. "Kone Oyj Q3 2021 Earnings Call Transcript" Oct 28, 2021. Alacra Store. May 21, 2025. <http://www.alacrastore.com/thomson-streetevents-transcripts/Q3-2021-Kone-Oyj-Earnings-Call-T15007103>
  
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Thomson StreetEvents. (2021). Kone Oyj Q3 2021 Earnings Call Transcript Oct 28, 2021. New York, NY: Alacra Store. Retrieved May 21, 2025 from <http://www.alacrastore.com/thomson-streetevents-transcripts/Q3-2021-Kone-Oyj-Earnings-Call-T15007103>
  
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