HELSINKI (dpa-AFX) - KONE Oyj (KNYJY, KNYJF), a provider of elevators, escalators, automatic building doors, and others, on Friday reported a profit for the fourth quarter, unchanged from last year. However, the company also registered a decline in sales, particularly due to a fall in sales of New Building Solutions business.
For the fourth-quarter, the company posted a net profit of 276.3 million euros or 0.53 euro per basic share, flat with last year.
Pre-tax income dropped to 360.6 million euros from previous year's 364.1 million euros.
Excluding items, EBIT stood at 358.6 million euros as against a 365 euros million in 2022.
Operating income was at 362.1 million euros, lesser than last year's 367.1 million euros.
Orders received stood at 2.049 billion euros, higher than 1.944 billion euros in previous year.
New Building Solutions business reported sales of 1.206 billion euros, compared with 1.431 billion euros last year.
Sales moved down to 2.809 billion euros, from previous year's 2.911 billion euros.
Kone will pay an annual dividend of 1.747 euro per class A share and 1.75 per Class B share, payable from March 11.
Looking ahead, the company said: 'KONE expects its sales to be stable or to grow slightly at comparable exchange rates in 2024. The improvement in adjusted EBIT margin is expected to continue in 2024, albeit with less tailwinds than in 2023.'
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