Kone - Revenue by Region
Although Kone's global revenue for elevators, automatic building doors, and escalators was stated as €4.81 billion in its annual report, its revenue specific to only escalators and elevators by region was not offered, neither could this data be determined.
- Headquartered in Helsinki, Finland, Kone is a mechanical company that offers automatic building doors, elevators, and escalators.
- Kone claims ts elevators, escalators, and automatic building doors are sustainable and innovative.
- The company also provides maintenance and modernization solutions, which, as it describes, "add value to the life cycle of any building."
- Currently, the company operates in over 60 countries globally and more than 57,000 employees.
- Kone serves almost 500,000 customers worldwide.
KONE: REVENUE BY BUSINESS
- In 2018, the company's global revenue was €9.071 billion ($10.04 billion). In 2017, its revenue was €8.797 billion ($9.74 billion).
- New equipment sold - specifically, elevators, automatic building doors, and escalators sold - accounted for 53% of Kone's revenue in 2018. This amounts to €4.81 billion or $5.32 billion [53/100*.€9.071 billion].
- Maintenace made up 33% of the company's revenue in 2018. This is equal to €2.99 billion or $3.31 billion [33/100*.€9.071 billion].
- Modernization accounted for 14% of Kone's 2018 revenue. This adds up to €1.27 billion ($1.41 billion).
KONE: REVENUE BY REGION
- By region, EMEA (Europe, Middle East, and Africa) had the largest share of Kone's revenue in 2018. This region accounted for 42% of the company's revenue which is €3.81 billion or $4.22 billion [42/100*.€9.071 billion].
- Asia-Pacific accounted for 38% of the company's revenue in 2018. The revenue for this region was specifically €3.45 billion ($3.82 billion).
- The Americas, specifically North and South America, made up only 20% of Kone's 2018 revenue which is €1.814 billion ($2.01 billion).
ADDITIONAL STATISTICS ABOUT ELEVATORS & ESCALATORS
- In 2018, Kone received 160,000 orders for new elevators and escalators, up from 158,000 orders the previous year.
- By the end of 2018, the company's elevators and escalator maintenance base was about 1.3 million units.
In order to determine Kone's revenue by region specific to elevators and escalators, we first relied on its official website. On its website, it had recent press releases about its financial information. However, these financial details were only snippets. As such, we turned to its most recent annual report. There, Kone provided a breakdown of its revenue by region and its revenue by business but there was no breakdown of its regional revenue by business. The company mentioned in its annual report that elevators, automatic building doors, and escalators sold makes up 53% of its revenue. Since different regions may have different purchasing behaviors in reference to escalators and elevators, we could not assume that this share could be applied to and therefore used to determine the company's revenue for escalators and elevators by region.
Next, we directed our focus to financial news articles published by industry-related websites like Forbes, Inc, and Fortune. Indeed, these well-known financial news platforms featured Kone in several articles and discussed its financial data but they failed to mention its revenue for escalators and elevators alone, by region. Another approach we took was combing through data intelligence resources including Statista. We tried finding any chart on Kone's revenue by region, for escalators and elevators alone. This, again, was a dead end. Statista offered a chart on its global revenue within the last decade but nothing more was provided.
As a last resort, we combed through transcripts of Kone's annual and quarterly investor conference calls, also known as shareholder meetings. We hoped any executive would mention its sales or share of revenue for escalators and elevators in the regions it caters to; EMEA, Asia-Pacific, and Americas. However, in these transcripts, we only found general growth information. There were no figures provided that we could use to attempt any triangulations. Due to the lack of data on Kone's revenue by region, specific to elevators OR elevators and escalators, we provided its general revenue by region and by business.