Kone Oyj Class B · OMXHEX:KNEBV
Kone Oyj Class B — Q3 2026 Earnings Presentation
27 slides from Kone Oyj Class B's earnings presentation, Oct 28, 2026
Slide 1: KONE Q3 2026
KONE Q3 2026 Philippe Delorme, President & CEO Ilkka Hara, CFO OCTOBER 28, 2026 INTERIM REPORT JANUARY -SEPTEMBER 2026
Slide 2: Highlights of Q3 2026: Solid execution, continued growth momentum
Highlights of Q3 2026: Solid execution, continued growth momentum • Healthy modernization-led order growth ~10% 65% • Continued margin expansion demonstrates Growth in Share of Service and resilience Modernization orders* Modernization sales • Excellent progress in bringing customer-focused 40bps >4
Slide 3: Q3 2026 financial highlights
Q3 2026 financial highlights Order momentum Sales growth driven Profitability Cash generation healthy, with strong by Service and improvement supported impacted by logistics- growth in APMEA Modernization by favorable mix related inventory build Orders received*, EUR bn Sales*, EUR bn Adjusted EBIT
Slide 4: Bringing customer-focused innovations to market
Bringing customer-focused innovations to market Fast, Sustainable, Bringing digital innovation KONE Homelift awarded Best Pushing the boundaries of Digital closer to customers of the Best by Red Dot high rise construction Delivering a modernized, India’s new Digital Experience A residential elevator
Slide 5: High-rise innovation in action: 725m tall Burj Azizi to be built in Dubai
High-rise innovation in action: 725m tall Burj Azizi to be built in Dubai 59 632 m Elevators One of the world’s longest single elevator journeys 15 24/7 Escalators Connectivity for resilient operation OCTOBER 28, 2026 INTERIM REPORT JANUARY -SEPTEMBER 2026 5
Slide 6: Combination with TKE proceeding according to plan
Combination with TKE proceeding according to plan April 2026 June 2026 Path to completion Post completion • Signing and • Shareholder • In prenotification phase • Integration announcement approvals with EC; merger control execution filings submitted in all other required jurisdictions and • ~€700m a
Slide 7: Market development
Market development OCTOBER 28, 2026 INTERIM REPORT JANUARY -SEPTEMBER 2026 7
Slide 8: Market development in Q3 2026
Market development in Q3 2026 North Europe APMEA China KONE’s indicative orders America received split in Q3 2026* Americas New Building Solutions in units - Stable ++ --- Europe APMEA Service Greater China in units + + ++ + * Covers orders received from New Building Modernization +++ ++ +++ +++ Sol
Slide 9: Q3 Financials
Q3 Financials OCTOBER 28, 2026 INTERIM REPORT JANUARY -SEPTEMBER 2026 9
Slide 10: Orders received
Orders received Healthy modernization-led growth momentum MEUR MEUR +7.2% 12,000 +5.5% at comp. FX 2,293 35 10,000 8,853 9,131 9,087 8,578 8,759 8,000 2,139 7,187 6,834 Americas +++ 6,000 Europe - APMEA +++ 4,000 Greater China --- 2,000 Margin of orders stable outside China 0 2021 2022 2023 2024 202
Slide 11: Sales
Sales Solid development driven by Service and Modernization MEUR MEUR +5.2% 12,000 11,098 11,245 10,907 10,952 +3.8% at comp. FX 2,906 10,514 39 10,000 41 8,284 8,552 8,000 2,762 74 -9 6,000 -0.9% +5.9% +8.1% 4,000 Americas +6.2% Europe +4.6% 2,000 APMEA +17.0% Greater China -10.7% 0 2021 2022 2023
Slide 12: Adjusted EBIT and profitability
Adjusted EBIT and profitability Margin expansion supported by favorable business mix MEUR, % MEUR, % 12.7% 12.5% 12.2% 1,600 12.1% 11.4% 11.7% 11.7% 369 1,400 1,369 1,310 9.9% 1,303 12.3% 8 1,248 1,200 1,077 1,032 967 341 1,000 800 600 + Business mix 400 + Fixed cost leverage - Margin pressure in Ch
Slide 13: Cash flow from operations and net working capital
Cash flow from operations and net working capital Healthy development in year-to-date cash flow Cash flow from operations*, MEUR Net working capital**, MEUR 2,000 1,829 9/2025 12/2025 9/2026 1,800 1,761 1,589 1,600 1,485 1,400 1,295 1,284 1,200 1,000 800 755 -798 -818 -876 600 400 200 + Timing of pa
Slide 14: Market and business outlook
Market and business outlook OCTOBER 28, 2026 INTERIM REPORT JANUARY -SEPTEMBER 2026 14
Slide 15: Market outlook for 2026 (updated)
Market outlook for 2026 (updated) Resilient activity with attractive growth opportunities in Service and Modernization North Europe APMEA China America New Building Solutions in units ++ + + ++ --- Service in units + + ++ + Modernization in monetary value +++ ++ +++ +++ - - - Significant decline (>1
Slide 16: Business outlook for 2026 (specified)
Business outlook for 2026 (specified) Supporting our Burdening our performance performance Sales Solid order book Outlook for New • KONE expects its sales to grow 4-6% at and positive outlook Building Solutions in comparable exchange rates for Service and China Modernization Geopolitical tensions Ad
Slide 17: Tailwinds and headwinds going into 2027
Tailwinds and headwinds going into 2027 Boosting our performance Positive outlook for Service and Modernization Fixed cost leverage Contribution from performance improvement initiatives Burdening our result Continued challenging environment in China Inflationary pressure OCTOBER 28, 2026 INTERIM REP
Slide 18: Summary
Summary • Continued order momentum underpins future growth • Innovations strengthen customer value and competitiveness • Consistent execution driving adjusted EBIT margin towards the mid-term target corridor • Preparations for the combination with TKE progressing as planned OCTOBER 28, 2026 INTERIM
Slide 19: Slide 19
Slide 20: Appendix
Appendix OCTOBER 28, 2026 INTERIM REPORT JANUARY -SEPTEMBER 2026 20
Slide 21: 7-9/2026 Sales split
7-9/2026 Sales split By business * By Area 19% 18% 25% (18%) (20%) 35% (25%) (37%) 17% (16%) 46% 40% (45%) (40%) New Building Solutions Americas Service Europe Modernization Asia-Pacific, Middle East and Africa Greater China OCTOBER 28, 2026 INTERIM REPORT JANUARY -SEPTEMBER 2026 21 * The figures in
Slide 22: Currencies
Currencies Sales by currencies Currency impact* Main currencies 7-9/2026 2026 1-9/2026 1-9/2025 2025 MEUR Q3/2026 estimate average average average EUR Other EBIT 8 ca. 3 EUR / CNY 7.9301 8.0270 8.0693 EUR / USD 1.1615 1.1129 1.1243 Sales 39 ca. 40 EUR / GBP 0.8646 0.8480 0.8546 Orders received 35 ca
Slide 23: Q3 2026 key figures
Q3 2026 key figures Comparable Q3/2026 Q3/2025 Change change Orders received MEUR 2,292.9 2,139.5 7.2% 5.5% Order book MEUR 9,804.6 8,717.7 12.5% 8.6% Sales MEUR 2,906.0 2,762.0 5.2% 3.8% Operating income (EBIT) MEUR 339.0 334.4 1.4% Operating income margin (EBIT margin) % 11.7 12.1 Adjusted EBIT ME
Slide 24: 1-9/2026 key figures
1-9/2026 key figures Comparable 1–9/2026 1–9/2025 Change change Orders received MEUR 7,186.6 6,834.1 5.2% 6.8% Order book MEUR 9,804.6 8,717.7 12.5% 8.6% Sales MEUR 8,552.0 8,284.4 3.2% 4.6% Operating income (EBIT) MEUR 944.2 949.0 -0.5% Operating income margin (EBIT margin) % 11.0 11.5 Adjusted EBI
Slide 25: Balance sheet – assets employed
Balance sheet – assets employed MEUR Sep 30, 2026 Sep 30, 2025 Assets employed Goodwill 1,587.4 1,524.6 Other intangible assets 335.6 339.2 Tangible assets 943.4 879.5 Shares and other non-current financial assets 92.2 128.1 Net working capital -876.3 -818.0 Assets employed total 2,082.3 2,053.3 Fin
Slide 26: Net working capital
Net working capital* MEUR Sep 30, 2026 Sep 30, 2025 Net working capital Inventories 960.7 869.3 Advances received and deferred revenue -2,086.0 -1,938.3 Accounts receivable 2,516.0 2,305.8 Deferred assets and income tax receivables 952.7 845.7 Accruals and income tax payables -2,176.6 -2,092.2 Provi
Slide 27: Estimated impact of IFRS 18
Estimated impact of IFRS 18 IFRS 18 becomes effective on January 1, 2027. Presentation of the consolidated financial statements will be impacted as certain financing items are presented in operating income. 2026 figures will be restated. Estimated IFRS 18 impact 1–9/2026 Offset by a corresponding ch