Elevator World

Welcome to the Elevator World News Podcast. Today’s podcast news podcast is sponsored by Franz: www.hellofranz.com KONE DESCRIBES STRONG HALF YEAR, REMAINING CHALLENGES In a financial report covering January-June 2021, KONE described strong financial performance and market recovery as it continues to navigate global supply-chain and pricing challenges. Orders grew by 16.2% in that timeframe to EUR2.41 billion (US$2.8 billion), and sales by 11% to EUR2.81 billion (US$3.29 billion). President and CEO Henrik Ehrnrooth said activity remains high in China, and pointed to the U.S. as a particular highlight. Strong orders demonstrate the success of KONE's "efforts to capture recovery-driven opportunities." He said he was especially pleased to see maintenance business rebound to pre-pandemic levels. However, Ehrnrooth said, the global supply-chain environment remains challenging, with materials and sea freight costs rising "dramatically." In particular, a shortage of semiconductors is impacting all businesses that