KONE Oyj - Company Announcement

KONE's new long-term financial targets

KONE Corporation, stock exchange release, January 26, 2011 at 12.35 p.m. EET



KONE has specified its new long-term financial targets. The new long-term
financial targets are:

  * Growth: faster than the market
  * Profitability: EBIT % 16
  * Cash flow: improved working capital rotation



To continuously improve its competitiveness and to enable continuous profitable
growth, KONE has defined new development programs. The new development programs
are Customer Experience, Employee Engagement, Innovative Solutions for People
Flow(TM), Service Leadership and Delivery Chain Excellence.


The new long-term financial targets replace the previous targets set in May
2008. The targets set in May 2008 were to grow faster than the market, to reach
an EBIT margin of 14% and to improve working capital. KONE has since 2008 grown
faster than the overall market. The EBIT margin target of 14% was achieved in
2010. KONE's net working capital has improved from -122 MEUR in the beginning of
2008 to -394 at the end of 2010.



About KONE
KONE is one of the global leaders in the elevator and escalator industry. The
company has been committed to understanding the needs of its customers for the
past century, providing industry-leading elevators, escalators and automatic
building doors as well as innovative solutions for modernization and
maintenance. The company's objective is to offer the best people flow experience
by developing and delivering solutions that enable people to move smoothly,
safely, comfortably and without waiting in buildings in an increasingly
urbanizing environment. In 2010, KONE had annual net sales of EUR 5.0 billion
and approximately 33,800 employees. KONE class B shares are listed on the NASDAQ
OMX Helsinki Ltd in Finland.

www.kone.com

For further information, please contact:
Henrik Ehrnrooth, CFO, tel. +358 204 75 4260

Sender:

KONE Corporation

Henrik Ehrnrooth
CFO

Anne Korkiakoski
Executive Vice President
Marketing and Communications

[HUG#1482504]