Kone Oyj B (KNYJF) Q1 2025 Earnings Call

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Replay transcript excerpt

WEBVTT 00:00:00.031 -- 00:00:04.278 Good morning, and welcome to KONE's first quarter results webcast. 00:00:04.278 -- 00:00:08.686 My name is Natalia Valdesari. I'm head of investor relations here at KONE, and I'm very 00:00:08.686 -- 00:00:14.876 pleased to be joined by Philippe Delorne, our CEO, and Ilka Hara, our CFO. 00:00:14.876 -- 00:00:19.003 So, as usual, Philippe will start by giving you an overview of the key developments in 00:00:19.003 -- 00:00:23.150 the quarter, focusing on business highlights, financials, and strategy execution. 00:00:23.150 -- 00:00:27.879 And then Ilka will take over, talk you through what we're seeing in the markets, a bit 00:00:27.879 -- 00:00:31.947 more detail on the financials and our outlook for this year. 00:00:31.947 -- 00:00:35.814 And then we'll move on to your questions. And I would like to ask you at this point already 00:00:35.814 -- 00:00:39.260 to please limit yourself to one question, one follow-up, and then rejoin the queue in 00:00:39.260 -- 00:00:44.007 case you have any follow-ups after that. But with that, please. 00:00:44.007 -- 00:00:47.393 Thank you, Natalia. And good morning, everyone. 00:00:47.393 -- 00:00:53.324 I'm glad to be here today presenting our results for the first quarter of 2025. 00:00:53.324 -- 00:00:58.794 Let me start by saying that we had a very good start of the year, both in terms of financial 00:00:58.794 -- 00:01:03.903 performance and strategy execution. And of course, the things come together. 00:01:03.903 -- 00:01:09.771 We delivered strong growth again in both service and modernization. 00:01:09.771 -- 00:01:14.937 Modernization in particular had an outstanding quarter, with both orders 00:01:14.937 -- 00:01:18.322 and sales growing by nearly 20%. 00:01:18.322 -- 00:01:23.748 From a ...