Investor Presentaiton
BOARD OF DIRECTORS' REPORT
Sales
KONE's sales grew by 3.7% as compared to January-
December 2021, and totaled EUR 10,906.7 million. At
comparable exchange rates, KONE's sales declined by 1.8%.
The sales consolidated from the companies acquired in 2022
had only a minor impact on KONE's sales for the financial
period.
New equipment sales declined by 10.0% at comparable
exchange rates primarily due to the impact of liquidity
constraints and the COVID-19 pandemic in China on new
equipment deliveries. Service sales grew by 7.9% at
comparable exchange rates. At comparable exchange rates,
maintenance sales grew by 8.0%, thanks to maintenance
base growth, improved pricing and continued momentum in
value-added services. At comparable exchange rates
modernization sales grew by 7.7%.
KONE's elevator and escalator maintenance base
continued to grow and was well over 1.5 million units at the
end of 2022 (close to 1.5 million units at the end of 2021).
The growth of the maintenance base was driven, in
particular, by a continued good level of conversions of new
equipment deliveries to the maintenance base. Acquisitions
had a minor positive contribution to the growth. In 2022, the
balance of maintenance contracts that were won from or lost
to competition was slightly negative.
The largest individual countries in terms of sales were
China (~31%), the United States (17%), Germany (6%) and
France (5%).
Sales in the EMEA region grew by 5.0% and totaled EUR
4,237.7 million. At comparable exchange rates, sales grew by
4.3%. New equipment sales grew slightly, maintenance sales
grew clearly and modernization sales grew slightly in the
region.
In the Americas, sales grew by 17.7% and totaled EUR
2,239.8 million. At comparable exchange rates, sales grew by
5.4%. New equipment sales declined slightly, maintenance
sales grew clearly and modernization sales grew significantly
in the region.
In Asia-Pacific, sales declined by 3.2% and totaled EUR
4,429.2 million. At comparable exchange rates, sales declined
by 9.9%. New equipment sales declined significantly,
maintenance sales grew clearly and modernization sales grew
clearly in the region.
Terminology: Slight <5%, clear 5-10%, significant >10%
Sales by region
MEUR
EMEA
Americas
Asia-Pacific
Total sales
Sales by business
Change at
comparable
2022
2021
Change
exchange rates
4,237.7
4,036.9
5.0%
4.3%
2,239.8
1,902.9
17.7%
5.4%
4,429.2
4,574.3
-3.2%
-9.9%
10,906.7
10,514.1
3.7%
-1.8%
Change at
comparable
MEUR
2022
2021
Change
exchange rates
New equipment sales
Service sales
5,399.3
5,637.7
-4.2%
-10.0%
5,507.4
4,876.4
12.9%
7.9%
3,890.4
3,450.6
12.7%
8.0%
1,616.9
1,425.9
13.4%
7.7%
10,906.7
10,514.1
3.7%
-1.8%
Maintenance
Modernization
Total sales
Sales development by region and by business*
EMEA
Americas
Asia-Pacific
*) in monetary value at comparable exchange rates
New equipment
Maintenance
Modernization
+
++
+
++
+++
++
++
--- Significant decline (>10%). -- Clear decline (5-10%), - Slight decline (<5%), Stable,
+ Slight growth (<5%), ++ Clear growth (5-10%), +++ Significant growth (>10%)
8
KONE ANNUAL REVIEW 2022View entire presentation