KONE Oyj Q3 2025 Earnings Recap

KONE delivered a strong third quarter with nearly 8% order growth and a notable shift towards a more resilient business model, with over 60% of sales coming from service and modernization.

Key Takeaways

• Orders increased by 7.8% year-over-year, driven primarily by a robust modernization segment with double-digit growth.
• Sales grew by 3.9% at comparable currencies, with modernization and service both performing strongly, particularly outside of China.
• Adjusted EBIT margin expanded by 75 basis points, supported by increased profitability from the service and modernization sectors.
• Operating cash flow improved significantly, up approximately EUR 100 million year-over-year, indicative of strong cash generation capabilities.
• KONE secured a prestigious contract for the Jeddah Tower, reinforcing its leadership in the high-rise elevator segment.