Fubotv earnings beat by $0.10, revenue topped estimates
Investing.com -- Shares of Kone Oyj (HE:KNEBV) fell more than 2% on Friday after the elevator and escalator maker reported second-quarter results that largely met expectations, though order growth came in light and sales in China declined.
The company reported Q2 orders of €2.32 billion, sales of €2.85 billion and adjusted EBIT of €347 million.
Compared with consensus, orders were 2% below expectations, while sales and adjusted EBIT were in line.
At comparable exchange rates, order intake rose 3% year over year, falling short of the 3.5% forecast.
Orders for new building solutions and modernization grew slightly. The order margin was stable, while the total order book declined 0.9% on a comparable currency basis.
Comparable sales rose 4.9% from a year earlier. By business line, new building solutions fell 5.2%, services rose 8.6% and modernization climbed 19.9%.
Regionally, sales increased 10.3% in the Americas, 6.5% in Europe and 15.9% in APMEA. Sales in China, however, dropped 8.5%.
Kone’s adjusted EBIT margin reached 12.2%, up 30 basis points from a year ago and in line with consensus.
The margin improvement was supported by business mix, offset by weakness in China’s new building segment and increased research and development costs.
Adjustments in the quarter totaled €9.2 million, mainly related to the planned separation of Kone’s Door Business. Net finance income rose to €21.6 million from €2 million in Q2 2024.
Operating cash flow increased 17% to €364 million. Net cash declined to €300 million from €418 million a year earlier.
Kone narrowed its 2025 sales outlook to growth of 2–5% at comparable exchange rates, compared with the earlier 1–6% range.
Adjusted EBIT margin guidance was maintained at 11.8–12.4%. Market consensus stands at 3.6% sales growth and a 12.2% margin.
“Neutral overall, with relatively few surprises in today’s results and the guidance implying limited revisions to consensus,” said analysts at RBC Capital Markets in a note.