Kone Oyj B (KNYJF) Q2 2026 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good morning and welcome to KONE's second quarter results call. My name is Natalia Valtasari. I'm head of investor relations here at KONE and I'm very pleased to be joined here today by Philippe Delorme, our president and CEO, and by Ilkka Hara, our CFO. As usual, Philippe will start by talking through the highlights of the quarter in terms of financials, but especially our strategy execution. Ilkka will then follow up with some more details on markets and financials, and then Philippe will wrap up before we head into the Q&A session. And just as a reminder already at this point, please, in the Q&A, try to limit yourselves to one question, one follow-up, and, of course, you can rejoin the queue if you have anything further to ask. But with that, Philippe, please. Thank you, Natalia, and good morning, everyone. I'm very pleased to be here today to discuss our second quarter results, which reflect continued progress across our business and good momentum in our strategic priorities. Looking at the number, all the growth stands out. I was especially encouraged by the acceleration in modernization, which grew by well over 15%. This shows our success in capturing the opportunities created by aging building stock around the world. We also delivered further margin expansion and strong cash generation, highlighting the quality of our business mix and the benefits of disciplined execution. Beyond the financials, We continue to advance our strategy. An excellent example is the increasing connectivity of our maintenance portfolio, now at 44%, strengthening both customer value and our service capabilities. And finally, there is a good momentum in the plan combination with TKE. I'll provide a more detailed update on this later in the presentation, but first, let's take a closer lo...