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Our business model is based on a lifecycle
approach. This means we provide solutions for
our customers’ needs during each phase in the
lifetime of elevators, escalators and automatic
doors. We offer solutions in new equipment,
maintenance and modernization.
This lifecycle business model is one of our
strengths. The new equipment business is
more cyclical in nature and fuels the growth
of our maintenance business in the long
term. Maintenance, on the other hand,
brings stability to the business over economic
cycles and in turn, the aging equipment
in maintenance creates potential for
modernization.
Over time, we believe that megatrends such
as urbanization, aging population and the
emergence of a global middle class will provide
a strong backdrop for the continued demand
of our solutions.
Financial performance in 2015
In 2015, KONE’s orders received increased by
16.8% (at comparable rates 5.6%), and reached
a level of EUR 7,959 million (1–12/2014: 6,813
MEUR). New equipment orders received grew
somewhat. In modernization, orders received
grew significantly. Orders received in the new
equipment business amounted to approximately
161,000 units (2014: approximately 154,000
elevator and escalator units), whereas our
maintenance base was close to 1.1 million units
at the end of 2015 (2014: exceeded one million
units).
In 2015, KONE’s net sales grew by 17.9% (at
comparable rates 8.3%) as compared to the
previous year, and totaled EUR 8,647 million
(1–12/2014: 7,334 MEUR). The share of new
equipment sales out of total sales was 57%,
whereas maintenance accounted for 31% and
modernization 12%.
ECONOMIC
RESPONSIBILITY
CREATINg ADDED VALUE FOR
OUR STAKEHOLDERS
KONE directly contributes to the economic development of the over 60
countries in which we operate. All together, KONE’s solutions, including our
distributors, are available in around 140 countries. Our objective is to develop
our business in a profitable and sustainable way.
As a responsible corporate citizen, we are committed to making a positive
contribution to the communities where we operate. Our global presence makes
it crucial for us to ensure that we have clear rules and guidance in place when it
comes to ethical business practices.
g4 INDICATORS RELATED TO ECONOMIC RESPONSIBILITY AND ETHICAL
BUSINESS PRACTICES
g4 EC1: Direct economic value generated and distributed
g4-EC6: Proportion of senior management hired from the local
community at significant locations of operation
g4-SO4: Communication and training on anti-corruption policies and
procedures
g4-SO7: Total number of legal actions for anti-competitive behavior, anti-
trust, and monopoly practices and their outcomes
G4-SO8: Monetary value of significant fines and total number of non-
monetary sanctions for non-compliance with laws and regulations