TK Elevator: Positive performance in first financial year

TK Elevator reports that it was able to increase all relevant key figures in the 2020/21 financial year ending September 30 – despite the Corona pandemic, material cost inflation and supply chain bottlenecks.

This is the company's first full year of independence. Increased key figures were not only for the comparison with the previous year, but also compared to the 2018/2019 financial year, which had not been impacted by the pandemic, TK Elevator said.

Result of the previous two years exceeded

Order intake increased by five percent to 8.1 billion euros after adjusting for currency effects. Sales rose by four percent to 8.0 billion euros, riven in particular by double-digit growth in China and in the Home Solutions division.

Adjusted EBITDA in the reporting year was over EUR 1.1 billion in a "challenging environment and despite negative exchange rate effects," the company stresses. This significantly exceeded the result of the previous two years. The EBITDA margin improved by more than one percentage point to over 14 percent.

More information: tkelevator.com