Is KONE Corporation profitable in 2025?

Yes. KONE reported FY2025 revenue of €11,245.2 million (up 1.3%) and EBIT of €1,336.2 million as of December 31, 2025, per its February 6, 2026 financial statement bulletin, with 2026 guidance of 12.3-13.0% adjusted EBIT margin.

Who owns KONE Corporation?

KONE is publicly listed on Nasdaq Helsinki (KNEBV), historically controlled by Finland's Herlin family. Ownership is set to shift after KONE agreed on April 29, 2026 to acquire rival TK Elevator, giving TKE's private-equity sellers up to 33.8% of KONE shares and 18.3% of votes.

Could AI replace KONE's elevator maintenance technicians?

Unlikely soon. KONE's AI-driven 24/7 Connected Services claims to predict up to 80% of failures across 800,000+ connected units (as of July 2026), but licensed on-site technicians are still legally required for repairs under codes like ASME A17, so AI augments rather than replaces the workforce.

Is KONE cutting jobs in 2026?

No broad layoffs are reported. KONE had over 60,000 employees in nearly 70 countries as of December 31, 2025, per its own financial statement bulletin, and expects to exceed 100,000 employees once its pending TK Elevator acquisition closes.

Who is KONE's biggest competitor?

KONE competes with Otis Worldwide, Schindler, and TK Elevator (TKE) as the global 'big four.' KONE agreed on April 29, 2026 to acquire TKE for a €29.4 billion enterprise value, aiming to absorb its rival rather than just compete with it.

Is KONE a safe company to join right now?

KONE looks stable: Q2 2026 order intake grew 11% to €2.56 billion and modernization orders rose over 15%, per its July 22, 2026 half-year report. The main uncertainty is integration risk from its pending €29.4 billion TK Elevator acquisition, targeted to close Q2 2027.

Manufacturing companies · Finland

KONE Corporation

kone.com ↗

Finnish maker of elevators and escalators, running mostly on service contracts.

Hard to displace

Assessed 24 July 2026 · Evidence as of 24 July 2026

Strong structural protection; the business model survives ai pressure.

On the recordSince 24 July 2026 · Checkable from expected before Q2 2027 close · Every call on the record Checkpoint: EU antitrust ruling on the KONE/TK Elevator merger

The call

KONE's money comes from servicing elevators it already sold decades ago, and it just agreed to buy its biggest rival to sell even more of that.

KONE builds and maintains elevators and escalators around the world. The company is hard to replace because once an elevator is installed, building owners sign long contracts to have KONE technicians service it for decades, and switching to a competitor is expensive and complicated. The biggest threat would be if regulators block or shrink KONE's planned purchase of TK Elevator, its main competitor, since that deal could be seen as anti-competitive given Europe's history with elevator company cartels.

Why

AI pressure: None apparent. AI shows up as predictive maintenance software inside KONE's own service business, not as an outside attacker. Could AI do the core job? Unlikely.

Bigger players: None apparent. Otis and Schindler compete hard but sell the same locked-in service model; no one is pulling KONE's installed base away. Could a giant copy it? No, they are blocked.

What protects it. Multi-decade service contracts on 800,000+ installed units, plus safety codes that require certified technicians to touch the equipment.

What would change this call

EU antitrust ruling on the KONE-TKE €29.4B merger (decision expected before Q2 2027 close). Shows whether regulators allow consolidation or force remedies given 2007 cartel history.
KONE Service and Modernization order growth rate in Q3/Q4 2026 reports. Indicates whether the recurring-revenue moat (currently +15% YoY) is holding or rolling over.
China new-build order trend in KONE's next two quarterly reports. Shows whether China new-equipment headwind is stabilizing or deepening past current ~19% sales exposure.

Key numbers

FY2025 revenue: 11.245 billion euros (2025-12-31)
TK Elevator deal value: 29.4 billion euros (2026-04-29)
Q2 2026 orders up 11% to 2.56 billion euros (2026-06-30)

Named risks

TKE deal blocked or delayed by EU antitrust given 2007 elevator cartel history. Severity: high
Integration of >100,000-person combined workforce fails to hit €700M synergy target. Severity: high
China new-build market continues to contract, pressuring equipment sales. Severity: medium
Deal financing dilution: TKE sellers could hold up to 33.8% of KONE equity. Severity: medium

Rivals, as read in July 2026

Rival	Direction	Evidence
TK Elevator	gaining on	KONE agreed April 29, 2026 to acquire TKE for €29.4B, absorbing a top-4 rival
Otis Worldwide	contesting	Remains one of two major global rivals after KONE-TKE combination targeted for Q2 2027
Schindler	contesting	Big-four oligopoly peer contesting service and modernization orders through 2026
Local Chinese and regional players (Hyundai, Mitsubishi Electric)	losing to	KONE's Greater China sales share fell from ~30% to ~19% between Q1 2024 and Q1 2025

Questions people ask

Is KONE Corporation profitable in 2025?: Yes. KONE reported FY2025 revenue of €11,245.2 million (up 1.3%) and EBIT of €1,336.2 million as of December 31, 2025, per its February 6, 2026 financial statement bulletin, with 2026 guidance of 12.3-13.0% adjusted EBIT margin.
Who owns KONE Corporation?: KONE is publicly listed on Nasdaq Helsinki (KNEBV), historically controlled by Finland's Herlin family. Ownership is set to shift after KONE agreed on April 29, 2026 to acquire rival TK Elevator, giving TKE's private-equity sellers up to 33.8% of KONE shares and 18.3% of votes.
Could AI replace KONE's elevator maintenance technicians?: Unlikely soon. KONE's AI-driven 24/7 Connected Services claims to predict up to 80% of failures across 800,000+ connected units (as of July 2026), but licensed on-site technicians are still legally required for repairs under codes like ASME A17, so AI augments rather than replaces the workforce.
Is KONE cutting jobs in 2026?: No broad layoffs are reported. KONE had over 60,000 employees in nearly 70 countries as of December 31, 2025, per its own financial statement bulletin, and expects to exceed 100,000 employees once its pending TK Elevator acquisition closes.
Who is KONE's biggest competitor?: KONE competes with Otis Worldwide, Schindler, and TK Elevator (TKE) as the global 'big four.' KONE agreed on April 29, 2026 to acquire TKE for a €29.4 billion enterprise value, aiming to absorb its rival rather than just compete with it.
Is KONE a safe company to join right now?: KONE looks stable: Q2 2026 order intake grew 11% to €2.56 billion and modernization orders rose over 15%, per its July 22, 2026 half-year report. The main uncertainty is integration risk from its pending €29.4 billion TK Elevator acquisition, targeted to close Q2 2027.

Timeline

2026-07-22KONE half-year report: Q2 2026 orders up 11% to €2.56B, 2026 guidance confirmed
2026-06-03KONE EGM approves share issuance and board resolutions for TKE deal
2026-04-29KONE agrees to acquire TK Elevator for €29.4B enterprise value
2026-02-06KONE FY2025 financial statement bulletin: revenue €11.245B, EBIT €1.336B
2025-12-31KONE year-end 2025 headcount over 60,000 employees in ~70 countries
2025-04-30KONE Q1 2025 data shows China share of sales down to ~19% from ~30%
2025-01-30KONE Q4 2024 call highlights 'Rise' service-pivot strategy amid China weakness
1910-10-27KONE Corporation founded in Finland

Revision history

24 July 2026

First assessed. Hard to displace. The text above is fixed as of this date and is not edited afterwards.

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