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    KNEBV   FI0009013403

KONE OYJ

(KNEBV)
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09:11aKONE CORPORATION : Gets a Neutral rating from Goldman Sachs
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08:59aKONE CORPORATION : Berenberg reaffirms its Buy rating
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Kone Oyj : to equip a transportation hub in Shenzhen, China

09/23/2021 | 03:12am EDT

KONE Corporation, press release, September 23, 2021

KONE Corporation, a global leader in the elevator and escalator industry, has won an order to deliver 25 elevators and 81 escalators for Dayan and Huang Mugang transportation hub in Futian Central District.

The transportation hub will serve the existing line 7, the new line 14 and the upcoming line 24. The complex will include bridges, roads, underground crossings and pedestrian walkways.

After the completion of the hub, travelers will be able to use different modes of transport more easily. Transfers will become more convenient for passengers, thanks to an ideal geographical location serving links to high-speed rail from across China. The order includes 25 KONE MonoSpace® elevators and 81 KONE TransitMaster™ escalators. The elevators will be equipped with the KONE Destination Control System which can help reduce waiting and traveling times. In addition, the contract includes two years of standard maintenance.

"We are pleased that we will continue working together with Shenzhen Metro Group in this project - they are true pioneers in transportation and property development. The new transportation hub will have an important role in urban development in the region, bringing convenience and integration to the transport network." says William B. Johnson, Executive Vice President, KONE Greater China.

The project is expected to be completed by mid-2023. The main developer is Shenzhen Metro Group Co., Ltd. KONE booked the order in the first quarter of 2021.

For further information, please contact:
Hanna Rutanen, Head of Communications, KONE Corporation, tel. +358 41 507 1361, media@kone.com

Read more
Previous press releases are available at https://www.kone.com/en/news-and-insights/releases/ including:
17.6.2021 KONE to equip Luoyang Metro Line 2 in China
13.4.2021 KONE wins order for Zhuhai Huafa Plaza mixed-use development in Zhuhai, China
25.3.2021 KONE to equip Citymark Center in Shenzhen, China
11.2.2021 KONE to equip Chengdu Magic Cube in China's Chengdu

About KONE

At KONE, our mission is to improve the flow of urban life. As a global leader in the elevator and escalator industry, KONE provides elevators, escalators and automatic building doors, as well as solutions for maintenance and modernization to add value to buildings throughout their life cycle. Through more effective People Flow®, we make people's journeys safe, convenient and reliable, in taller, smarter buildings. In 2020, KONE had annual sales of EUR 9.9 billion, and at the end of the year over 60,000 employees. KONE class B shares are listed on the Nasdaq Helsinki Ltd. in Finland.
www.kone.com

Transportation hub Shanzhen China


Disclaimer

Kone Oyj published this content on 23 September 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 23 September 2021 07:11:04 UTC.


ę Publicnow 2021
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Financials
Sales 2021 10 590 M 12 375 M 12 375 M
Net income 2021 1 051 M 1 228 M 1 228 M
Net cash 2021 2 043 M 2 388 M 2 388 M
P/E ratio 2021 29,1x
Yield 2021 3,18%
Capitalization 30 500 M 35 346 M 35 642 M
EV / Sales 2021 2,69x
EV / Sales 2022 2,57x
Nbr of Employees 61 439
Free-Float 60,4%
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Mean consensus HOLD
Number of Analysts 25
Last Close Price 58,80 €
Average target price 65,77 €
Spread / Average Target 11,9%
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Managers and Directors
Henrik Georg Fredrik Ehrnrooth President & Chief Executive Officer
Ilkka Hara Chief Financial Officer
Antti Juhani Herlin Chairman
Maciej Kranz Chief Technology Officer & Executive VP
Matti Juhani Alahuhta Independent Director
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