Kone Oyj Class B · OMXHEX:KNEBV
Kone Oyj Class B — Kone Oyj B — Q1 2026 Earnings Presentation
17 slides from Kone Oyj Class B's earnings presentation, Apr 29, 2026
Slide 1: KONE Q1 2026
KONE Q1 2026 Philippe Delorme, President & CEO Ilkka Hara, CFO APRIL 29, 2026 INTERIM REPORT JANUARY -MARCH 2026
Slide 2: Highlights of Q1 2026
Highlights of Q1 2026 • Broad-based growth in sales 6.7% 67% • Favorable business mix drives Growth in Share of Service and margin expansion and resilience sales* Modernization sales • Healthy cash generation • Good progress in ‘Rise’ strategy execution 30bps >42% Improvement in Connectivity adjuste
Slide 3: Q1 2026 financial highlights: growth in all key metrics
Q1 2026 financial highlights: growth in all key metrics Order momentum solid, Sales growth across all Profitability improvement Cash flow on a with double-digit growth areas and businesses driven by favorable healthy level in APMEA and Europe business mix despite -15bps FX impact Orders received*, E
Slide 4: Market outlook for 2026 (unchanged)
Market outlook for 2026 (unchanged) 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 (>
Slide 5: 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 3-6% at and positive outlook for Building Solutions in comparable exchange rates Service and China Modernization Continued inflationary A
Slide 6: Slide 6
Slide 7: Appendix
Appendix APRIL 29, 2026 INTERIM REPORT JANUARY -MARCH 2026 7
Slide 8: Market development in Q1 2026
Market development in Q1 2026 North Europe APMEA Greater KONE’s indicative orders America China received split in Q1 2026* Americas New Building Solutions in units +++ + +++ --- Europe APMEA Service in units + + + + Greater China * Covers orders received from New Building Modernization in monetary v
Slide 9: Orders received
Orders received Solid order momentum, supported by strong growth in APMEA and Europe MEUR MEUR 10,000 9,131 9,087 -2.0% 8,853 8,759 8,578 8,185 63 8,000 2,378 24 -134 2,331 Americas - 6,000 Europe +++ APMEA +++ 4,000 Greater China -- +3.9% at comp FX 2,000 Margin of orders stable 0 2020 2021 2022 20
Slide 10: Sales
Sales All areas and business contributed to sales growth MEUR MEUR +1.3% 12,000 11,098 11,245 10,907 10,952 +6.7% at comp. FX 10,514 9,939 52 10,000 -135 91 2,708 8,000 2,672 27 +3.2% +7.6% * +11.3% * 6,000 Americas +8.8% 4,000 Europe +5.4% APMEA +16.3% 2,000 Greater China +0.3% 0 2020 2021 2022 202
Slide 11: Adjusted EBIT and profitability
Adjusted EBIT and profitability Favorable business mix supported margin expansion amid adverse FX effects MEUR, % MEUR, % 12.6% 12.5% 1,600 12.2% 11.4% 11.7% 10.8% 1,400 1,369 1,310 9.9% 1,303 10.5% 1,251 1,248 -17 294 1,200 1,077 280 1,000 800 + Business mix + Fixed cost leverage 600 - Margin press
Slide 12: Cash flow from operations and net working capital
Cash flow from operations and net working capital Healthy cash generation supported by earnings growth and changes in working capital Cash flow from operations*, MEUR Net working capital**, MEUR 2,000 1,829 03/2025 12/2025 03/2026 1,800 1,761 1,589 1,600 1,485 1,400 1,200 1,000 800 755 -798 -954 -91
Slide 13: 1-3/2026 Sales split
1-3/2026 Sales split By business * By Area 19% 17% (19%) 25% (18%) 33% (26%) (35%) 14% (14%) 48% 43% (47%) (41%) New Building Solutions Americas Service Europe Modernization Asia-Pacific, Middle East and Africa Greater China APRIL 29, 2026 INTERIM REPORT JANUARY -MARCH 2026 13 * The figures in brack
Slide 14: Currencies
Currencies Sales by currencies Currency impact, MEUR* Main currencies 1-3/2026 2026 Q1/2026 Q1/2025 2025 MEUR 1–3/2026 estimate average average average EUR Other EBIT -17 ca. -20 EUR / CNY 8.1350 7.6355 8.0693 EUR / USD 1.1743 1.0502 1.1243 Sales -135 ca. -175 EUR / GBP 0.8709 0.8317 0.8546 Orders r
Slide 15: Q1 2026 key figures
Q1 2026 key figures Comparable Q1/2026 Q1/2025 Change change Orders received MEUR 2,331.4 2,378.4 -2.0% 3.9% Order book MEUR 9,208.6 9,116.2 1.0% 4.1% Sales MEUR 2,708.3 2,672.3 1.3% 6.7% Operating income (EBIT) MEUR 283.0 276.7 2.3% Operating income margin (EBIT margin) % 10.4 10.4 Adjusted EBIT ME
Slide 16: Balance sheet – assets employed
Balance sheet – assets employed MEUR Mar 31, 2026 Mar 31, 2025 Assets employed Goodwill 1,571.3 1,533.7 Other intangible assets 336.2 332.4 Tangible assets 958.4 883.5 Shares and other non-current financial assets 92.4 109.2 Net working capital -917.2 -954.0 Assets employed total 1,926.7 1,788.1 Fin
Slide 17: Net working capital*
Net working capital* MEUR Mar 31, 2026 Mar 31, 2025 Net working capital Inventories 853.8 857.5 Advance payments received and deferred revenue -1,988.1 -2,029.8 Accounts receivable 2,420.2 2,397.2 Deferred assets and income tax receivables 928.6 862.5 Accruals and income tax payables -2,276.5 -2,316