MIRA INFORM REPORT

Report No. :	319960
Report Date :	29.04.2015

IDENTIFICATION DETAILS

Name :	KONE OYJ

Registered Office :	Kartanontie 1, 00330, Helsinki

Country :	Finland

Financials (as on) :	31.12.2013

Date of Incorporation :	01.06.2005

Legal Form :	Public Limited Company

Line of Business :	Engaged as Manufacturer of Lifting and Handling Equipment.

No. of Employee :	41139 (31.12.2013)

RATING & COMMENTS

MIRA’s Rating :

RATING		STATUS	PROPOSED CREDIT LINE
41-55	Ba	Overall operation is considered normal. Capable to meet normal commitments.	Satisfactory

Status :	Satisfactory

Payment Behaviour :	No complaints

Litigation :	Clear

NOTES :

Any query related to this report can be made on e-mail : infodept@mirainform.com while quoting report number, name and date.

ECGC Country Risk Classification List – December 31, 2014

Country Name

Previous Rating

(30.09.2014)

Current Rating

(31.12.2014)

Finland

Risk Category	ECGC Classification
Insignificant	A1
Low	A2
Moderate	B1
High	B2
Very High	C1
Restricted	C2
Off-credit	D

FINLAND ECONOMIC OVERVIEW

Finland has a highly industrialized, largely free-market economy with per capita output almost as high as that of Austria, Belgium, the Netherlands, or Sweden. Trade is important, with exports accounting for over one-third of GDP in recent years. Finland is historically competitive in manufacturing - principally the wood, metals, engineering, telecommunications, and electronics industries. Finland excels in export of technology for mobile phones as well as promotion of startups in the ICT, gaming, cleantech, and biotechnology sectors. Except for timber and several minerals, Finland depends on imports of raw materials, energy, and some components for manufactured goods. Because of the climate, agricultural development is limited to maintaining self-sufficiency in basic products. Forestry, an important export earner, provides a secondary occupation for the rural population. Finland had been one of the best performing economies within the EU in recent years and its banks and financial markets avoided the worst of global financial crisis. However, the world slowdown hit exports and domestic demand hard in 2009, with Finland experiencing one of the deepest contractions in the euro zone. A recovery of exports, domestic trade, and household consumption stimulated economic growth in 2010-11, however, continued recession within the EU dampened the economy in 2012-13. The recession affected general government finances and the debt ratio, turning previously strong budget surpluses into deficits, but Finland took action to ensure it that it met the EU deficit targets in 2013 and retained its triple-A credit rating. Finland's main challenge will be to stimulate growth while faced with weak export demand in the EU and its own government austerity measures. Longer-term, Finland must address a rapidly aging population and decreasing productivity in traditional industries that threaten competitiveness, fiscal sustainability, and economic growth.

Source : CIA

Summary

Trading Name	KONE Oyj, Konsernihallinto, KONE Building
Company Name	KONE Oyj	Business ID	19274001
Telephone Number	0204751	Registered Address	Kartanontie 1, 00330, HELSINKI
Fax Number	0204754496	Visiting Address	Keilasatama 3, 02150, ESPOO
Home Municipality	Espoo	Postal Address	PL 7, 02151, ESPOO
Incorporation Date	01.06.2005	Branches	4
Company Type	Public limited company	Website Address
Primary Sic Code	28220	Accountant	PricewaterhouseCoopers Oy
Primary Sic Description	Manufacture of lifting and handling equipment	Last Accounts Date	31.12.2013
Share Capital (€)	65.389.629	Holding Company	---
Deals in importing	Yes	Foreign Ownership	---
Deals in exporting	Yes	Currency	EUR

Key Financials (€)

Year	31.12.2013	%	31.12.2012	%	31.12.2011	%	31.12.2010
Number of weeks	52		52		52		52
Turnover	445.399.965	8%	411.648.039	5%	392.280.307	-7%	422.989.365
Operating Profit/Loss	145.006.250	-3%	149.819.535	-4%	156.552.209	-27%	213.231.610
Profit/Loss after Financial Items	435.628.325	-7%	469.969.978	-6%	497.615.123	-15%	587.887.706
Profit/Loss after tax	430.002.366	-7%	461.090.447	-7%	493.383.533	-13%	564.600.057
Current Assets	747.897.648	20%	625.018.756	-39%	1.021.514.867	-4%	1.064.866.260
Fixed Assets	3.022.907.771	14%	2.649.034.256	-5%	2.800.451.733	7%	2.612.374.515
Long Term Debts	720.197.335	101%	357.537.321	8%	331.126.783	-11%	371.193.916
Current Liabilities	1.527.301.730	52%	1.002.993.083	-22%	1.288.663.791	-4%	1.342.686.695
Shareholders Equity	1.523.306.354	-20%	1.913.522.608	-13%	2.202.176.026	12%	1.963.360.164
Balance sheet total	3.770.805.419	15%	3.274.053.012	-14%	3.821.966.600	4%	3.677.240.775
Number of employees	41139		38477		-		-
Auditor qualification	The auditor has no reservations		The auditor has no reservations		Not audited		The auditor has no reservations

Ratios

Year	31.12.2013	31.12.2012	31.12.2011	31.12.2010
Solvency Ratio	40%	58%	58%	53%
	Exceptionally Low Indebtedness	Low Indebtedness	Low Indebtedness	Low Indebtedness
Net margin (%)	98%	114%	127%	139%
Interest Coverage Ratio (times)	-	-	-	14
Gearing (%)	47%	19%	15%	19%
Liquidity Ratio/Acid Test	0	1	1	1
Risk Buffer (%)	12%	14%	13%	15%

Shareholder Information

Year	31.12.2013
Total Value of Shares	65.389.629
Number of Shares	523.117.030
Value of Shares	-

Registrations in Force

	State	Registration Date
Tax Administration	Registered	02.06.2005
Trade Register	Registered	01.06.2005
Employer Register	Registered	01.06.2005
Prepayment Register	Registered	01.06.2005
Value Added Tax-Liability	VAT-liable for business activity	01.06.2005

Business History

Date	Event	Source Company Name
01.10.2009	Merger	AMC Advanced Management Consulting Oy merged into KONE Oyj, Konsernihallinto, KONE Building
30.09.2009	Merger	AMC Advanced Management Consulting Oy merged into KONE Oyj, Konsernihallinto, KONE Building
01.03.2007	Merger	Taara Holding Oy merged into KONE Oyj, Konsernihallinto, KONE Building
28.02.2007	Merger	Taara Holding Oy merged into KONE Oyj, Konsernihallinto, KONE Building
01.06.2005	Division	Kone Oyj merged into KONE Oyj, Konsernihallinto, KONE Building

Current Directors

Name	Kant Ravi
Date of Birth	01.06.1944	Appointment Date	24.03.2014
Nationality	INDIA	Function	Actual Member of Board

Name	Akiba Shinichiro
Date of Birth	01.08.1956	Appointment Date	24.03.2014
Nationality	JAPAN	Function	Actual Member of Board

Name	Herlin Jussi Kustaa
Date of Birth	12.07.1984	Appointment Date	24.03.2014
Nationality	FINLAND	Function	Actual Member of Board

Name	Brunila Anne Maritta
Date of Birth	31.08.1957	Appointment Date	24.03.2014
Nationality	FINLAND	Function	Actual Member of Board

Name	Kaskeala Pauli Juhani
Date of Birth	26.07.1946	Appointment Date	24.03.2014
Nationality	FINLAND	Function	Actual Member of Board

Name	Pietikäinen Sirpa Maria
Date of Birth	19.04.1959	Appointment Date	24.03.2014
Nationality	FINLAND	Function	Actual Member of Board

Name	Hämäläinen-Lindfors Sirkka Aune-Marjatta
Date of Birth	08.05.1939	Appointment Date	24.03.2014
Nationality	FINLAND	Function	Actual Member of Board

Name	Alahuhta Matti Juhani
Date of Birth	22.06.1952	Appointment Date	24.03.2014
Nationality	FINLAND	Function	Actual Member of Board

Name	Herlin Antti Juhani
Date of Birth	14.11.1956	Appointment Date	24.03.2014
Nationality	FINLAND	Function	Chairman of Board

Name	Ehrnrooth Henrik Georg Fredrik
Date of Birth	12.02.1969	Appointment Date	01.04.2014
Nationality	FINLAND	Function	Managing director

Other Company Officials

Name	Herlin Iiris Liisa Mirjami
Date of Birth	28.10.1989	Appointment Date	24.03.2014
Nationality	FINLAND	Function	Alternate Member of Board

Name	Skippari Susanne Maaria
Date of Birth	27.07.1974	Appointment Date	04.11.2014
Nationality	FINLAND	Function	Procurist

Name	Selin Kimmo Ilmari
Date of Birth	01.10.1959	Appointment Date	04.11.2014
Nationality	FINLAND	Function	Procurist

Name	Sarelin Jan Peter Alexander
Date of Birth	12.03.1979	Appointment Date	04.11.2014
Nationality	FINLAND	Function	Procurist

Name	Salmelin Samu Tuomas Juhani
Date of Birth	04.10.1971	Appointment Date	04.11.2014
Nationality	FINLAND	Function	Procurist

Name	Ristaniemi Juhani Pentti Roger
Date of Birth	20.01.1968	Appointment Date	04.11.2014
Nationality	FINLAND	Function	Procurist

Name	Rantanen Pekka Juhani
Date of Birth	18.06.1955	Appointment Date	04.11.2014
Nationality	FINLAND	Function	Procurist

Name	Pohjola Pekka Samuli
Date of Birth	28.04.1980	Appointment Date	04.11.2014
Nationality	FINLAND	Function	Procurist

Name	Piuhola Pekka Esko Tapani
Date of Birth	05.08.1975	Appointment Date	04.11.2014
Nationality	FINLAND	Function	Procurist

Name	Pihkala Mikko Tomio
Date of Birth	19.06.1975	Appointment Date	04.11.2014
Nationality	FINLAND	Function	Procurist

Name	Leväjärvi Nina Ilona
Date of Birth	13.07.1966	Appointment Date	04.11.2014
Nationality	FINLAND	Function	Procurist

Name	Leppänen Heikki Olavi
Date of Birth	09.03.1957	Appointment Date	04.11.2014
Nationality	FINLAND	Function	Procurist

Name	Kuusi Ahti Sakari
Date of Birth	18.02.1953	Appointment Date	04.11.2014
Nationality	FINLAND	Function	Procurist

Name	Kukkonen Satu Maarit
Date of Birth	18.01.1967	Appointment Date	04.11.2014
Nationality	FINLAND	Function	Procurist

Name	Elnaggar Tarek Hassan Elsayed
Date of Birth	28.09.1960	Appointment Date	04.11.2014
Nationality	EGYPT	Function	Procurist

Name	Cawén Klaus Thomas
Date of Birth	21.05.1957	Appointment Date	04.11.2014
Nationality	FINLAND	Function	Procurist

Name	Ala-Mello Jukka Antero
Date of Birth	30.09.1963	Appointment Date	04.11.2014
Nationality	FINLAND	Function	Procurist

Name	Onnelainen Markku Kalevi
Date of Birth	08.10.1966	Appointment Date	04.11.2014
Nationality	FINLAND	Function	Procurist

Name	Oijala Jussi Elias
Date of Birth	07.06.1958	Appointment Date	04.11.2014
Nationality	FINLAND	Function	Procurist

Name	Mattila Kati Susanna
Date of Birth	25.08.1973	Appointment Date	04.11.2014
Nationality	FINLAND	Function	Procurist

Name	Markula Sirkku Helena
Date of Birth	03.06.1967	Appointment Date	04.11.2014
Nationality	FINLAND	Function	Procurist

Name	Lövegren Caj Martin
Date of Birth	24.03.1966	Appointment Date	04.11.2014
Nationality	FINLAND	Function	Procurist

Name	Tuomas Kerttu Maria
Date of Birth	19.03.1957	Appointment Date	04.11.2014
Nationality	FINLAND	Function	Procurist

Name	Söderström Rauni Eriikka
Date of Birth	07.11.1968	Appointment Date	04.11.2014
Nationality	FINLAND	Function	Procurist

Name	Spanuth Heiko
Date of Birth	16.08.1980	Appointment Date	04.11.2014
Nationality	GERMANY	Function	Procurist

Name	Snäll Tomas Kai Kristian
Date of Birth	23.06.1974	Appointment Date	04.11.2014
Nationality	FINLAND	Function	Procurist

Name	Kujanpää Kimmo Petteri
Date of Birth	16.04.1963	Appointment Date	04.11.2014
Nationality	FINLAND	Function	Procurist

Name	Kommeri Tomi Tuomas
Date of Birth	25.09.1973	Appointment Date	04.11.2014
Nationality	FINLAND	Function	Procurist

Name	Kemppainen Pekka Juhani
Date of Birth	11.04.1954	Appointment Date	04.11.2014
Nationality	FINLAND	Function	Procurist

Name	Kekkonen Kalle Hermanni
Date of Birth	11.10.1978	Appointment Date	04.11.2014
Nationality	FINLAND	Function	Procurist

Name	Kaivonen Jaakko Tuomas
Date of Birth	03.06.1975	Appointment Date	04.11.2014
Nationality	FINLAND	Function	Procurist

Name	Julén Tuula Inkeri
Date of Birth	05.10.1959	Appointment Date	04.11.2014
Nationality	FINLAND	Function	Procurist

Name	Hintikka Jaana Maria
Date of Birth	08.07.1978	Appointment Date	04.11.2014
Nationality	FINLAND	Function	Procurist

Name	Heikkilä Tuomas Hermanni
Date of Birth	19.12.1973	Appointment Date	04.11.2014
Nationality	FINLAND	Function	Procurist

Name	Hakala Harri Johannes
Date of Birth	08.11.1957	Appointment Date	04.11.2014
Nationality	FINLAND	Function	Procurist

Name	Hagros Kati Anne Marika
Date of Birth	31.03.1970	Appointment Date	04.11.2014
Nationality	FINLAND	Function	Procurist

Name	Frände Johannes Dan-Otto
Date of Birth	03.08.1979	Appointment Date	04.11.2014
Nationality	FINLAND	Function	Procurist

Name	Alfthan Max Ernst
Date of Birth	07.04.1961	Appointment Date	04.11.2014
Nationality	FINLAND	Function	Procurist

Name	Pöllänen Janne Petteri
Date of Birth	30.05.1975	Appointment Date	04.11.2014
Nationality	FINLAND	Function	Procurist

Name	Karppinen Pasi Antero
Date of Birth	27.07.1971	Appointment Date	20.03.2012
Nationality	FINLAND	Function	Principal accountant

Profit & Loss (€)

OPERATING INCOME	31.12.2013	%	31.12.2012	%	31.12.2011	%	31.12.2010
Number of weeks	52		52		52		52
Consolidated Accounts	no		no		no		no
Sales Revenue	445.399.965	8%	411.648.039	5%	392.280.307	-7%	422.989.365
Other Operating Income	12.344.839	36%	9.083.777	16%	7.846.315	3%	7.616.707
Total Operating Income	457.744.804	9%	420.731.816	5%	400.126.622	-7%	430.606.072
Wages & Salaries	60.963.742	8%	56.532.334	13%	50.041.431	13%	44.433.850
Depreciation	11.749.178	14%	10.300.777	11%	9.240.506	8%	8.584.537
Total Operating Expenses	312.738.554	15%	270.912.281	11%	243.574.413	12%	217.374.462
Operating Profit/Loss	145.006.250	-3%	149.819.535	-4%	156.552.209	-27%	213.231.610
RESULT FROM FINANCIAL INVESTMENTS
Financial Income	290.622.075	-9%	320.150.443	-6%	341.062.914	-19%	419.097.796
Financial Expenses	0	-	0	-	0	-	44.441.700
Total Financial Investments	290.622.075	-9%	320.150.443	-6%	341.062.914	-9%	374.656.096
Profit/Loss after Financial Items	435.628.325	-7%	469.969.978	-6%	497.615.123	-15%	587.887.706
Extraordinary Income	41.584.500	23%	33.780.000	-16%	40.244.576	52%	26.554.000
Extraordinary Expenses	0	-	0	-	0	-	0
Profit/Loss Before Tax	477.212.825	-5%	503.749.978	-6%	537.859.699	-12%	614.441.706
Tax	47.210.459	11%	42.659.531	-4%	44.476.166	-11%	49.841.649
Profit/Loss After Tax	430.002.366	-7%	461.090.447	-7%	493.383.533	-13%	564.600.057

Balance Sheet (€)

ASSETS	12.2013	%	12.2012	%	12.2011	%	12.2010
Number of weeks	52		52		52		52
Consolidated Accounts	no		no		no		no
FIXED ASSETS
Intangible Assets	23.254.116	4%	22.428.685	29%	17.363.764	-3%	17.960.519
Tangible Assets	12.854.630	8%	11.908.512	4%	11.478.333	8%	10.621.709
Other Fixed Assets	2.986.799.025	14%	2.614.697.059	-6%	2.771.609.636	7%	2.583.792.287
Total Fixed Assets	3.022.907.771	14%	2.649.034.256	-5%	2.800.451.733	7%	2.612.374.515
CURRENT ASSETS
Inventories	0	-	0	-	0	-	0
Trade Receivables	572.982.823	2%	562.970.030	-43%	985.272.214	763%	114.208.700
Other Receivables	22.865.902	8%	21.264.854	4%	20.432.141	-98%	930.871.093
Cash & Bank Balances	152.048.923	273%	40.783.872	192%	13.945.925	-24%	18.451.147
Other Current Assets	0	-	0	-	1.864.587	40%	1.335.320
Total Current Assets	747.897.648	20%	625.018.756	-39%	1.021.514.867	-4%	1.064.866.260
Total Assets	3.770.805.419	15%	3.274.053.012	-14%	3.821.966.600	4%	3.677.240.775

Equity and Liabilities (€)

EQUITY
Share Capital	65.342.703	0%	65.134.030	0%	65.134.030	0%	65.134.030
Share Premium Reserve	100.328.064	0%	100.328.064	0%	100.328.065	0%	100.328.065
Retained Earnings	1.252.219.828	-25%	1.666.837.807	-16%	1.985.191.406	13%	1.762.898.989
Other Reserves	105.415.759	30%	81.222.707	58%	51.522.525	47%	34.999.080
Total Equity	1.523.306.354	-20%	1.913.522.608	-13%	2.202.176.026	12%	1.963.360.164
LONG TERM LIABILITIES
Long Term Liabilities to Financial Institutions	0	-	0	-	0	-	0
Other Long Term Liabilities Finance	0	-	0	-	0	-	0
Other Long Term Liabilities	720.197.335	101%	357.537.321	8%	331.126.783	-11%	371.193.916
Total Long Term Debts	720.197.335	101%	357.537.321	8%	331.126.783	-11%	371.193.916
CURRENT LIABILITIES
Trade Payables	1.527.301.730	52%	1.002.993.083	-22%	1.288.663.791	3768%	33.313.300
Liabilities to Financial Institutions	0	-	0	-	0	-	0
Other Short Term Financial Loans	0	-	0	-	0	-	0
Other Short Term Liabilities	0	-	0	-	0	-	1.309.373.395
Total Current Liabilities	1.527.301.730	52%	1.002.993.083	-22%	1.288.663.791	-4%	1.342.686.695
Total Liabilities	2.247.499.065	65%	1.360.530.404	-16%	1.619.790.574	-5%	1.713.880.611
Total Equity & Liabilities	3.770.805.419	15%	3.274.053.012	-14%	3.821.966.600	4%	3.677.240.775

Other Financials (€)

	Working Capital	-779.404.082	-	-377.974.327	-	-267.148.924	-	-277.820.435
	Net Worth	1.500.052.238	-21%	1.891.093.923	-13%	2.184.812.262	12%	1.945.399.645

Key Ratios

	31.12.2013	31.12.2012	31.12.2011	31.12.2010
Number of weeks	52	52	52	52
Consolidated Accounts	no	no	no	no
PROFITABILITY
Net Margin %	97,8%	114,2%	126,9%	139,0%
Operating Profit/Loss %	32,6%	36,4%	39,9%	50,4%
Pre-Tax Profit Margin %	107,1%	122,4%	137,1%	145,3%
TRADING PERFORMANCE
Return on Net Assets Employed %	31,3%	26,3%	24,4%	31,3%
Return on Total Capital %	11,6%	14,4%	13,0%	17,2%
Interest Coverage Ratio (times)	-	-	-	14
Return on Capital Employed %	21,3%	22,2%	21,2%	26,3%
Return on Total Assets Employed %	12,7%	15,4%	14,1%	16,7%
Interest on Debt %	0,0%	0,0%	0,0%	2,6%
Risk Buffer %	11,6%	14,4%	13,0%	14,6%
SHORT TERM LIQUIDITY
Liquidity Ratio/Acid Test	0	1	1	1
Current Ratio %	49,0%	62,0%	79,0%	79,0%
Debtor Days	470	499	917	99
Working capital	-779.404.082	-377.974.327	-267.148.924	-277.820.435
LONG TERM LIQUIDITY
Equity Ratio %	40,4%	58,5%	57,6%	53,4%
Gearing %	47,3%	18,7%	15,0%	18,9%
Current Debt Ratio	1	1	1	1
Total Debt Ratio	1	1	1	1
Relative debt %	504,6%	330,5%	412,9%	405,2%
BUSINESS MEASURES
Change in turnover %	8,2%	4,9%	-7,3%	-
Turnover/employees	10827	10699	-	-
Sales/Net Working Capital	-1	-1	-1	-2
Stock Turnover Ratio %	0,0%	0,0%	0,0%	0,0%
Creditor Days	1252	889	1199	29
Equity in Percentage %	200,2%	300,4%	213,2%	182,6%

Group structure

COMPANY NAME	REGISTERED NUMBER	LATEST KEY FINANCIALS	PERCENTAGE OWNED	TURNOVER
KONE OYJ	19274001	31.12.2013	-	-
ARA LYON	428661409	31.12.2010	100%	-
AS KONE	N/A	-	85%	-
ASCENSEURS TECHNOLOGIE SER...	N/A	-	100%	-
ATPE-AMIB S.A	N/A	-	100%	-
A.C.C.E.S. SARL	N/A	-	100%	-
BEN FUNG ELEVATORS TAIWAN LTD	N/A	-	70%	-
BEN FUNG MACHINERIES & ENG...	N/A	-	70%	-
BLEASDALE LIMITED	IE273616	31.12.2013	100%	-
CAJAX AB	5567074546	31.12.2013	100%	-
CENTRAL ELEVATOR SERVICES LTD	N/A	-	100%	-
KONE SRO	N/A	-	100%	-
KONE INDUSTRIES B.V.	27277999	-	60%	-
KONE SSC SRO	N/A	-	100%	-
CJSC KONE LIFTS	N/A	-	100%	-
KONE S.P.A.	MI1594415	31.12.2013	100%	€230 439 224
KONEMATIC INC	US12840564	-	100%	$318 700 000
KONEMATIC HOLDINGS LIMITED	04097474	31.12.2013	100%	-
KONE VIETNAM LLC	N/A	-	85%	-
KONE VERWALTUNGSGESELLSCHA...	HRB 61280	31.12.2013	85%	-
KONE AUTOMATIKTÜREN GMBH	HRB 59932	31.12.2013	85%	€12 018 561
KONE SERVICEZENTRALE GMBH	HRB 60942	31.12.2012	85%	-
HÜTTER AUFZÜGE GMBH NIED...	N/A	-	100%	-
LIFT MAINTENANCE LIMITED	N/A	-	100%	-
LLC EKOLIFT	N/A	-	100%	-
KPI ELEVATORS INC	N/A	-	85%	-
LONG ELEVATOR & MACHINE CO...	N/A	-	100%	-
LÖDIGE AUFZUGSTECHNIK GMBH	HRB 3571	31.12.2012	85%	€28 700 316
LAM LOMBARDA ASCENSORI MON...	N/A	-	70%	-
LUMICO S.ÀR.L.	B138491	31.12.2012	100%	-
LLC KONE LIFTS	N/A	-	100%	-
CROWN LIFTS LTD	02132130	31.12.2013	100%	£7 587 021
KONEMATIC LIMITED	03048963	31.12.2013	100%	-
KREM	US22554448	-	100%	-
MINGOT S.R.L.	N/A	-	51%	-
NEULIFT SERVICE SRL	N/A	-	51%	-
NEULIFT SRL	N/A	-	100%	-
ELECOMP SRL	MI1380288	31.12.2012	100%	€157 428
LÖDIGE AUFZÜGE GMBH	HRB 9040	31.12.2012	85%	-
NANJING LIAN AO ELEVATOR E...	N/A	-	67%	-
MONDOOR-KONE	N/A	-	100%	-
MIRO ELEVATORS LTD	N/A	-	100%	-
MARINE ELEVATORS LLC	US08528017	-	100%	-
MOTALA HISSAR AKTIEBOLAG	5562123066	31.12.2013	100%	183 484 KSEK
MARVI ASCENSORES, S.L.	N/A	-	100%	-
ELEVANT SERVIZI S.R.L.	N/A	-	70%	-
PREMIER ELEVATORS SDN. BHD.	N/A	-	100%	-
RUMAN SRL	N/A	-	100%	-
SABIEM S.P.A.	MI1725924	31.12.2013	100%	€3 527 501
SERVICE PROFESSIONNEL D'AS...	N/A	-	100%	-
OJSC RSU NO. 6	N/A	-	100%	-
ELEVATORS S.R.L.	CT193481	31.12.2013	60%	€976 861
OOO LIFT RSU-5	N/A	-	100%	-
PROKODIS	379348915	31.12.2013	100%	€22 112 782
RADETZKY THÜRINGER AUFZUG-...	N/A	-	85%	-
RECOLIFT SA	6226946	-	100%	-
QUALITY ELEVATOR SALES AND...	N/A	-	100%	-
ENGLER & HARING GMBH	N/A	-	85%	-
TOSCA ASCENSORI SRL	N/A	-	67%	-
TECNOCRAM - S.R.L.	RM962658	31.12.2013	80%	€2 401 749
SLIMPA S.P.A.	VA50619	31.12.2013	100%	€85 774 666
SIA KONE LIFTI LATVIJA	N/A	-	100%	-
UAB KONE LIFTS	N/A	-	85%	-
UPPSALA HISS AB	N/A	-	100%	-
VIRGINIA ELEVATOR COMPANY	N/A	-	100%	-
UK LIFT (HOLDINGS) LTD	N/A	-	100%	-
THE UK LIFT COMPANY LTD	N/A	-	100%	-
ENOK ELECTRICAL COMPANY, LLC	N/A	-	100%	-
EVIN ASCENSEURS S.A.S.	N/A	-	100%	-
FEIN BLANKING SDN BHD	N/A	-	100%	-
FG MANAGEMENT	N/A	-	100%	-
FUJI LIFT & ESCALATOR MANU...	N/A	-	100%	-
FUJI LIFT & ESCALATOR SDN BHD	N/A	-	100%	-
FINESCAL OY	10536749	31.12.2013	100%	-
G&G LIFTSERVICE B.V.	N/A	-	85%	-
GIANT KONE ELEVATOR CO., LTD	N/A	-	80%	-
HAGES VERWALTUNGSGESELLSCH...	HRB 2519	31.12.2013	85%	-
HAGES-AUFZÜGE GMBH & CO. K...	N/A	-	85%	-
HISSI B.V.	27246830	-	85%	-
HISSJOUREN EKMANS AB	5561702985	31.12.2012	100%	203 KSEK
HOPMANN LIFTSERVICE BV	N/A	-	85%	-
INDUSMAR S.A.	N/A	-	100%	-
INDUSTRIAL LOGISTICS LIMITED	IE266162	31.12.2013	100%	-
IRITI SRL	N/A	-	100%	-
KIINTEISTÖ OY HEVES	N/A	-	100%	-
KONE (IRELAND) LIMITED	IE123145	31.12.2013	100%	€14 449 694
KONE (NI) LIMITED	NI003522	31.12.2013	100%	£4 953 528
KONE (SCHWEIZ) AG	N/A	-	85%	-
KONE A/S	N/A	-	100%	-
KONE AKTIEBOLAG	5562344639	31.12.2013	100%	1 972 061 KSEK
KONE AG	N/A	-	100%	-
KONE AKSJESELSKAP	N/A	-	100%	-
KONE AS	N/A	-	100%	-
KONE ASANSÖR SANAYI VE TIC...	N/A	-	85%	-
KONE ASCENSORUL SA	N/A	-	85%	-
KONE BELGIUM SA	436407453	31.12.2013	100%	€142 643 381
KONE BOLTON BRADY LIMITED	02733701	31.12.2013	100%	-
KONE B.V.	27075288	31.12.2007	85%	€4 078 900 000
KONE CAPITAL OY	10536722	31.12.2013	100%	-
KONE D.O.O.	N/A	-	100%	-
KONE DEURSYSTEMEN B.V.	30080679	-	85%	-
KONE DEVELOPPEMENT SNC	429661994	31.12.2013	85%	-
KONE DOOR AB	5563735553	31.12.2013	100%	45 490 KSEK
KONE EHF	N/A	-	100%	-
KONE ELEVADORES	209100	31.12.2013	100%	€88 398 791
KONE ELEVATOR (HK) LIMITED	N/A	-	70%	-
KONE ELEVATOR (MACAU) LTD	N/A	-	70%	-
KONE ELEVATOR (SHANGHAI) C...	N/A	-	85%	-
KONE ELEVATOR INDIA PRIVAT...	N/A	-	100%	-
KONE ELEVATORS CO LTD	N/A	-	67%	-
KONE ELEVATORS CYPRUS LTD	N/A	-	100%	-
KONE ELEVATORS EMPL BENEFI...	N/A	-	100%	-
KONE ELEVATORS INTERNATION...	N/A	-	85%	-
KONE ELEVATORS KOREA CO LTD	N/A	-	100%	-
KONE ELEVATORS PTY LTD	N/A	-	100%	-
KONE ELEVATORS SOUTH AFRIC...	N/A	-	85%	-
KONE ELEVATORS TAIWAN CO LTD	N/A	-	85%	-
KONE FELNOVO KFT	N/A	-	100%	-
KONE FINANCE HOLDING B.V.	30146216	-	85%	-
KONE FUNCHALIFT LDA	N/A	-	100%	-
KONE GARANT AUFZUG GMBH	HRB 1543	31.12.2012	85%	-
KONE GMBH	HRB 6549	-	85%	-
KONE HISSIT OY	19042921	31.12.2013	100%	-
SUUR-HELSINGIN HISSIHUOL...	09208238	28.02.2014	100%	-
KONE HOLDING FRANCE	403272388	31.12.2013	100%	€3 620 583
KONE HOLDING GMBH	HRB 56581	31.12.2013	85%	-
KONE HOLDINGS (CANADA) INC.	N/A	-	100%	-
KONE HOLDINGS, INC.	N/A	-	100%	-
KONE INC	N/A	-	100%	-
KONE INC	US11705140	-	100%	-
KONE INDUSTRIAL OY	18919760	31.12.2013	100%	-
KONE INDUSTRIAL SA DE CV	N/A	-	85%	-
KONE INDUSTRIAL SERVICIOS...	N/A	-	85%	-
KONE INDUSTRIAL S.P.A.	MI1730246	31.12.2013	100%	€61 237 334
KONE INDUSTRIAL-KONCERN SRO	N/A	-	100%	-
KONE INTERNATIONAL NV	N/A	-	100%	-
KONE SPZOO	N/A	-	100%	-
KONE INVESTITION GMBH	N/A	-	100%	-
KONE JAPAN CO LTD	N/A	-	100%	-
KONE ESCALATOR SUPPLY LINE...	HRB 14009	31.12.2012	85%	-
KONE LIFTS LLC	N/A	-	85%	-
KONE LUXEMBOURG	B28496	31.12.2012	100%	-
KONE METRO AB	N/A	-	100%	-
KONE MEXICO SA DE CV	N/A	-	85%	-
KONE MONTAGE GMBH	HRB 6581	31.12.2013	85%	-
KONE PENSION TRUSTEES LIMITED	01493598	31.12.2013	100%	-
K-ONE LIMITED	02595426	-	100%	-
KONE PTE LTD	N/A	-	85%	-
KONE RULLETRAPPER AS	988592471	31.12.2013	100%	14 867 KNOK
KONE	592052302	31.12.2013	100%	€498 067 953
KONE SA	N/A	-	100%	-
S.A.M. KONE	N/A	-	100%	-
KONE SCANDINAVIA AB	5567458533	31.12.2012	100%	11 749 KSEK
KONE SDN. BHD.	N/A	-	85%	-

Linked Companies

NAME	NUMBER	LATEST KEY FINANCIALS	TURNOVER
KONE PUBLIC LIMITED COMPANY	01372978	31.12.2013	£229 286 000
KONE INVEST AB	5563329415	31.12.2008	884 KSEK
ASCENSEURS SOULIER	562023978	31.12.2013	€95 897
BIDDLE HOLDINGS LIMITED	00433221	31.12.2006	-
ASCENSEURS TECHNOLOGIE SERRURERIE	313402083	31.12.2013	€19 393 409
HAGES - AUFZÜGE GMBH & CO. KOMMANDITGESELLSCHAFT	HRA 45	31.12.2013	-
NEULIFT S.R.L. COMPAGNIA ITALOSVIZZERA ASCENSORI	MB1499143	31.12.2013	€2 673 697
MINGOT S.R.L.	TS101773	31.12.2013	€1 408 141
ELEVATORI S.R.L.	BA231950	31.12.2012	€3 112 832
KONE GMBH	HRB 57225	31.12.2012	€298 388 656
KIINTEISTÖ OY HEVES	04901658	-	-
ELEVANT SERVIZI S.R.L.	LE223481	31.12.2013	€1 339 541
M.I.R.A. MANUTENZIONE - INSTALLAZIONE - RIPARAZIONE ASCENSORI S.R.L. SIGLABILE M.I.R.A. S.R.L.	TO494178	31.12.2013	€2 235 012
NEULIFT SERVICE TRIVENETO S.R.L.	PD292825	31.12.2013	€2 868 257
ENNIS LIFTS LIMITED	IE143184	31.12.2013	€4 368 053
A.T.S. EVOLUTION	353539851	31.12.2013	€45 761
ENGLER & HARING GMBH	HRB 27099 B	31.12.2012	-
WM AUFZUGSDIENST GMBH	HRB 9542	31.12.2013	-
GIS KONE DEUTSCHLAND GMBH	HRB 62632	31.12.2009	-
UPPSALA HISS MONTAGE OCH EL AB	5565796272	31.12.2013	70 102 KSEK
FERRARA ASCENSORI S.R.L.	FE150378	31.12.2013	€1 051 616
WBM OSTFALEN-AUFZÜGE GMBH	HRB 200294	31.12.2012	-
KNEBV INCENTIVE OY	20043630	31.12.2009	€3 168 000
KONE RULLTRAPPOR AKTIEBOLAG	5560816620	31.12.2009	64 768 KSEK
WASA HISSVÅRD AB	5566822770	31.12.2008	32 KSEK
TOSCA ASCENSORI S.R.L.	LO1448074	31.12.2013	€2 338 237
NEULIFT SERVICE MOLISE SOCIETA' A RESPONSABILITA' LIMITATA O IN FORMA ABBREVIATA NEULIFT SERVICE MOLISE S.R.L.	CB101597	31.12.2013	€727 834
L.A.M. LOMBARDA ASCENSORI MONTACARICHI SRL	MI1322428	31.12.2013	€32 363
NEULIFT SERVICE REGGIO CALABRIA - S.R.L.	RC146305	31.12.2013	€430 690
NEULIFT SERVICE LOMBARDIA S.R.L. IN LIQUIDAZIONE	MB1859795	31.12.2013	€252 565
NEULIFT SERVICE PIEMONTE S.R.L.	TO961355	31.12.2012	€264 305
21ST CENTURY LIFTS LIMITED	03291928	31.12.2013	£1 165 928
LIFT MAINTENANCE LIMITED	SC055628	31.12.2013	£4 600 884
ACRE LIFTS LIMITED	02707590	31.12.2013	£6 394 572
WALDOOR UK LTD	03998438	31.12.2003	-
KONE LIFTS LTD	00154254	31.12.2006	-
BENNIE LIFTS LIMITED	00283677	31.12.2006	-
O & K ESCALATORS LIMITED	00461601	31.12.2007	-
CABLE LIFT INSTALLATIONS LIMITED	01308693	31.12.2006	-
U.K. LIFT COMPANY LIMITED(THE)	01397101	31.12.2013	-
KONE ESCALATORS LIMITED	01465782	31.12.2006	-
UK LIFT (HOLDINGS) LIMITED	02307371	31.12.2013	-
KONEPART LIMITED	02648787	31.12.2006	-
RADETZKY THÜRINGER AUFZUG-BAU GMBH	HRB 111724	31.12.2013	-
KONE OYJ	01101399	-	-
BORGA-BIJSTEDE GEVELONDERHOUDSINSTALLATIES B.V.	08029850	-	-
AMC ADVANCED MANAGEMENT CONSULTING OY	10174354	31.12.2008	€69 720 000
ASCENSORES MOVER	1250815	-	-
HOPMANN LIFTSERVICE B.V.	14030606	-	-
KONE ELEVATOR HOLDING OY	20291626	-	-
KO-MONT INVESTMENT B.V.	27158689	-	-
KONE LIFTEN B.V.	27162401	-	-
KONE NEDERLAND HOLDING B.V.	27248908	-	-
LTF LIFTEN B.V.	30057588	-	-
WALDOOR B.V.	30182156	-	-
KONE SHARED SERVICES CENTRE B.V.	34209949	-	-
MANDOOR-KONE NV	404667865	31.12.2011	€1 176 984
KONE INTERNATIONAL NV	444307015	31.12.2013	€15 787 262
KONE MARKUS B.V.	54590248	-	-
KSM GMBH	HRB 61787	-	-
HERBERT ACKER AUFZUGBAU GMBH	HRB 107916	-	-
KONE AUFZUG GMBH & CO. KG	HRA 25632	-	-
KONE SERVICE GMBH	HRB 53987 B	-	-
USA TODAY SPORTS MEDIA GROUP LLC	US01104870	-	-
HOTELME, LLC	US01338548	-	-
GANNETT BROADCASTING INC	US03733276	-	-
GANNETT NEWS SERVICE	US03733288	-	-
THE BAXTER BULLETIN INC	US03748817	-	-
GANNETT MEDIA TECHNOLOGIES INTERNATIONAL	US03748818	-	-
MANSFIELD NEWS JOURNAL	US04884357	-	-
PRESS-CITIZEN CO INC	US05260855	-	-
GANNETT RIVER STATES PUBLISHING CORP	US05524326	-	-
TNI PARTNERS	US05765193	-	-
THE APPEAL TRIBUNE	US05986483	-	$1 086 000
CONSUMERS PRESS	US06168541	-	-
NEWS WATCH CHANNEL 15	US06282737	-	$272 000
DETROIT FREE PRESS	US06490258	-	-
SHOPLOCAL, LLC	US06506780	-	-
10BEST INC	US07312826	-	-
ELEVATOR MAINTENANCE & REPAIR, INC	US08122194	-	-
LEAF-CHRONICLE CO	US08277289	-	-
THE TENNESSEAN	US08412749	-	-
THE COURIER-JOURNAL, INC	US09792266	-	-
ZANESVILLE TIMES RECORDER	US09923621	-	-
CHILLICOTHE GAZETTE	US10067271	-	-
DETROIT NEWSPAPER PARTNERSHIP, L.P	US10508076	-	-
THE TIMES HERALD CO	US10631422	-	-
HOMETOWN COMMUNICATIONS NETWORK, INC	US10761904	-	-
THE CINCINNATI ENQUIRER, INC	US10823281	-	-
THE NEWS-MESSENGER	US10962669	-	-
NEWARK ADVOCATE	US11161769	-	-
WHAS	US11165725	-	-
BUCYRUS TELEGRAPH-FORUM	US11192569	-	-
RESPONSE ELEVATOR CO INC	US11219820	-	$624 000
MARION STAR	US11419275	-	-
GANNETT DIRECT MARKETING SERVICES, INC	US11434625	-	-
TSR ELEVATOR CO INC	US12121116	-	-
KCEN - TV CHANNEL 6, INC	US12401378	-	-
GANNETT WISCONSIN NEWSPAPERS	US12679553	-	-
ADVANCED ELEVATOR CORP	US12791450	-	-
EMPIRE ELEVATOR CO, INC	US12854215	-	-
CLASSIFIED VENTURES, LLC	US12928824	-	-
DES MOINES REGISTER AND TRIBUNE CO	US13357997	-	-
CERTIFIED ELEVATOR CO	US13753448	-	$733 000
PACIFIC DAILY NEWS	US13845026	-	-
NORTHWEST CABLE NEWS INC	US13891134	-	-
EAGLE ELEVATOR CORP	US14358355	-	$2 500 000
ASCENT ELEVATOR SERVICES INC	US15227715	-	-
TEXAS CABLE NEWS	US15832875	-	-
WFAA-TV	US15967146	-	-
CAREERBUILDER, LLC	US16109438	-	-
STERLING MACHINERY INC	US16469956	-	$5 900 000
KTTU-TV, INC	US16652979	-	-
KMSB-TV, INC	US16697905	-	-
KASW-TV, INC	US16806412	-	$3 330 000
WWL-TV, INC	US17477855	-	-
LONG ELEVATOR & MACHINE CO	US17499539	-	$16 155 000
ASBURY PARK PRESS INC	US17754785	-	-
OKLAHOMA PRESS PUBLISHING CO	US18123807	-	-
WFAA HOLDINGS, INC	US18532684	-	-
MOLINE ACCESSORIES CORP	US18569785	-	-
KTVK, INC	US18574505	-	-
BELO MANAGEMENT SERVICES, INC	US19050096	-	-
PHOENIX NEWSPAPERS, INC	US19263455	-	-
RENO GAZETTE JOURNAL	US19710613	-	-
POINTROLL INC	US19770833	-	-
RENO NEWSPAPERS INC	US20026799	-	-
JOURNAL & COURIER	US20261603	-	-
MEDIA WEST-RNI INC	US20503411	-	-
BLACK MOUNTAIN NEWS INC	US20976362	-	-
KENS-TV	US21367381	-	-
INDIANA NEWSPAPERS INC	US21465001	-	-
CHRONICLE-TRIBUNE	US21483694	-	-
EMSI ECONOMIC MODELING SPECIALISTS INC	US21553133	-	-
INDIANAPOLIS STAR	US21682336	-	-
BELO KENTUCKY INC	US21695523	-	-
NEWSPAPER NETWORK OF CENTRAL OHIO	US21709137	-	-
GANNETT SATELLITE INFORMATION NETWORK INC	US21717447	-	-
KVUE-TV	US21726121	-	-
KHOU-TV, INC	US21800745	-	-
GREAT FALLS TRIBUNE	US22020364	-	-
THE TOWN TALK	US22076411	-	-
ALEXANDRIA NEWSPAPERS, INC	US22121056	-	-
BELO CORP	US22145318	-	-
RELIANT INC	US22207122	-	$3 059 000
STATESMAN-JOURNAL CO INC	US22336903	-	-
KTVB	US22436872	-	-
A LIFT ELEVATOR CO	US22477221	-	$500 000
KIII TV 3	US22500706	-	-
KSKN TELEVISION, INC	US22557375	-	-
KHOU HOLDINGS, INC	US22589036	-	-
ELEVATOR DYNAMICS, INC	US22900461	-	-
KONG-TV, INC	US22936928	-	-
GANNETT PACIFIC CORP	US23295098	-	-
QUALITY ELEVATOR SALES AND SERVICE, INC	US23479580	-	$92 000
TOPIX LLC	US23750070	-	-
SOUTHWEST ELEVATOR	US24045222	-	-
ACCURATE ELEVATOR INSPECTIONS SERVICES	US24334818	-	$575 000
REVIEWED COM	US25945402	-	-
THE ARIZONA REPUBLIC	US28803267	-	-
KING TV	US29505015	-	-
FANTASY SPORTS VENTURES INC	US29817786	-	-
NEWS PRESS PUBLISHING	US30018669	-	-
CAREERBUILDER GOVERNMENT SOLUTIONS LLC	US31173650	-	-
KCEN LICENSE CO, LLC	US31308527	-	-
GANNETT PACIFIC PUBLICATIONS INC	US35634295	-	-
SPRINGFIELD NEWS LEADER	US36090966	-	-
GANNETT SUPPLY CORP	US37984898	-	-
VIRGINIA ELEVATOR CO, INCORPORATED	US42729318	-	$10 000 000
BELO CAPITAL BUREAU	US42745799	-	-
ASHEVILLE CITIZEN-TIMES	US43011664	-	-
THE JOURNAL NEWS	US43843327	-	-
APEX ELEVATOR CORP	US44055821	-	-
GANNETT VERMONT PUBLISHING INC	US44242070	-	-
NEWSQUEST	US44363872	-	-
USA TODAY	US44468285	-	-
USA TODAY INTERNATIONAL CORP	US44670793	-	-
GANNETT OFFSET PRINTING GROUP	US45359981	-	-
TIMES NEWS GROUP INC	US45811224	-	-
SOUTHLAND PUBLISHING CO	US46064951	-	-
THE BURLINGTON FREE PRESS	US46222867	-	-
GANNETT CO INC	US46441638	-	$5 738 051 000
WCNC-TV, INC	US46655737	-	-
WVEC-TELEVISION, INC	US46689082	-	-
GREENVILLE NEWS	US46901055	-	-
TRIBUNE TIMES	US46929001	-	-
FIRST COAST NEWS	US46936405	-	-
TALLAHASSEE DEMOCRAT	US46938365	-	-
THE MONTGOMERY ADVERTISER	US46960167	-	-
THE NEWS EXAMINER	US46963966	-	-
PENSACOLA NEWS-JOURNAL	US46975104	-	-
THE JACKSON SUN	US46975840	-	-
LANSING STATE JOURNAL	US47012405	-	-
WKYC-TV INC	US47020587	-	-
TOPICS NEWSPAPERS, INC	US47020993	-	-
BATTLE CREEK ENQUIRER	US48829654	-	-
HATTIESBURG AMERICAN	US48835760	-	-
THE ARGUS LEADER	US48844736	-	-
THE HERALD TIMES REPORTER	US48847683	-	-
STEVENS POINT JOURNAL	US48848872	-	-
THE POST-CRESCENT	US48858802	-	-
ST. CLOUD TIMES	US48861571	-	-
OSHKOSH NORTHWESTERN	US48871729	-	-
GANNETT RETAIL ADVERTISING GROUP, INC	US48876800	-	-
DAILY TRIBUNE	US48886113	-	-
WAUSAU DAILY HERALD	US48901574	-	-
SALINAS NEWSPAPERS INC	US48984446	-	-
THE STAR PRESS	US49038898	-	-
ELMIRA STAR-GAZETTE	US49115000	-	-
PALLADIUM-ITEM	US49124178	-	-
THE CLARION-LEDGER	US49124388	-	-
THE SHEBOYGAN PRESS	US49128333	-	-
GREEN BAY PRESS-GAZETTE	US49128835	-	-
THE NEWS-STAR	US49132000	-	-
HATTIESBURG PUBLISHING, INC	US49471310	-	-
ROVION LLC	US49522651	-	-
PRESS & SUN-BULLETIN	US49575345	-	-
PUBLIC OPINION	US49648797	-	-
DEMOCRAT & CHRONICLE	US49667115	-	-
WFMY-TV CORP	US49699659	-	-
UFCJUNKIE.COM LLC	US56935373	-	$162 000
GANNETT PUBLISHING SERVICES LLC	US69187966	-	-
MOBESTREAM MEDIA INC	US72385120	-	-
KIDYTV FOX	US74705236	-	-
KBTV-TV	US77839586	-	-
GUAM PUBLICATIONS, INCORPORATED	US78523172	-	-
TRIPOLOGY	US79703352	-	-
AS KANDUR	-	-	-
ASCENSORES TECAS	-	-	-
BEN FUNG ELEVATORS TAIWAN LTD	-	-	-
BEN FUNG MACHINERIES & ENGINEERING LIMITED	-	-	-
BLEASDALE LTD	-	-	-
CENTRAL ELEVATOR SERVICES LTD	-	-	-
ELEVATORS PHILIPPINES CONSTRUCTION INC	-	-	-
ENOK ELECTRICAL COMPANY LLC	-	-	-
FEIN BLANKING SDN. BHD	-	-	-
FINESCAL LTD	-	-	-
FUJI LIFT & ESCALATOR MANUFACTURING SDN. BHD.	-	-	-
FUJI LIFT & ESCALATOR SDN. BHD	-	-	-
GIANT KONE ELEVATOR CO. LTD	-	-	-
HAGES VERWALTUNGS GMBH	-	-	-
HAGES-AUFZÜGE GMBH & CO. KG. DÜREN	-	-	-
HOPMANN LIFTEN NEDERLAND B.V	-	-	-
INDUSMAR S.A	-	-	-
KONE A/S	-	-	-
KONE AG	-	-	-
KONE AKSJESELSKAP	-	-	-
KONE AREECO LIMITED	-	-	-
KONE AS	-	-	-
KONE ASANSÖR SANAYI VE TICARET AS	-	-	-
KONE ASCENSORUL	-	-	-
KONE CANADA INC	-	-	-
KONE D.O.O.	-	-	-
KONE DZWIGI I CHODNIKI RUCHOME SP. Z.O.O	-	-	-
KONE EHF	-	-	-
KONE ELEVATOR HK LTD	-	-	-
KONE ELEVATOR INDIA PRIVATE LIMITED	-	-	-
KONE ELEVATOR M SDN. BHD	-	-	-
KONE ELEVATOR MACAU LIMITED	-	-	-
KONE ELEVATORS CO. LTD	-	-	-
KONE ELEVATORS CYPRUS LIMITED	-	-	-
KONE ELEVATORS EMPL. BENEFITS PTY LIMITED	-	-	-
KONE ELEVATORS FINLAND	-	-	-
KONE ELEVATORS INTERNATIONAL CHINA LIMITED	-	-	-
KONE ELEVATORS KOREA CO. LTD	-	-	-
KONE ELEVATORS PTY LTD	-	-	-
KONE ELEVATORS QATAR LLC	-	-	-
KONE ELEVATORS SOUTH AFRICA PTY LTD	-	-	-
KONE ELEVATORS TAIWAN CO. LTD	-	-	-
KONE FELVONÓ KFT	-	-	-
KONE FUNCHALIFT LDA	-	-	-
KONE HOLDINGS AUSTRALIA LIMITED	-	-	-
KONE HOLDINGS CANADA INC	-	-	-
KONE HOLDINGS INC	-	-	-
KONE INC	-	-	-
KONE INC	-	-	-
KONE INDUSTRIAL KONCERN S.R.O.	-	-	-
KONE INDUSTRIAL S.A DE C.V	-	-	-
KONE INDUSTRIAL SERVICIOS S.A DE C.V	-	-	-
KONE INVESTITION GMBH	-	-	-
KONE JAPAN CO. LTD	-	-	-
KONE LFTS LLC	-	-	-
KONE MEXICO S.A. DE C.V	-	-	-
KONE MIDDLE EAST LLC	-	-	-
KONE OYJ SOC. ETRANGERE	-	-	-
KONE PLC	-	-	-
KONE PORTUGAL ELEVADORES LDA	-	-	-
KONE PTE LTD	-	-	-
KONE S.R.O	-	-	-
KONE SA	-	-	-
KONE SCHWEIZ AG	-	-	-
KONE SDN. BHD	-	-	-
KONE SP.Z O.O	-	-	-
KONE SSC S.R.O.	-	-	-
KONE TELC INDUSTRIES CO. LTD	-	-	-
KONE THAI LIFT PUBLIC COMPANY LIMITED	-	-	-
KONE ZACHOD SP. Z O.O	-	-	-
KONEMATIC GMBH	-	-	-
KPI ELEVATORS INC	-	-	-
KREM INC	-	-	-
KUNSHAN VATAPLE-KONE ESCALATOR EQUIPMENT CO. LTD	-	-	-
MIRO ELEVATORS LIMITED	-	-	-
NANJING LIAN AO ELEVATOR ENGINEERING CO. LTD	-	-	-
NEULIFT S.R.L	-	-	-
OLYMPUS ELEVATOR PRIVATE LIMITED	-	-	-
OOO EKOLIFT	-	-	-
OOO KONE LIFT ST. PETERSBURG	-	-	-
OOO KONE LIFTS	-	-	-
OOO LIFT RSU-5	-	-	-
OY TUOTE-LEASING LTD	-	-	-
OÜ PÄRNU LIFT	-	-	-
PREMIER ELEVATORS SDN. BHD	-	-	-
PT. KONE INDO ELEVATOR	-	-	-
RIGONZA S.A	-	-	-
RUMAN SRL	-	-	-
SEP KONE ATS ASCTN SNS BT LCR	-	-	-
SERVICE PROFESSIONNELS D'ASCENSEURS SPA INC	-	-	-
SERVIPARKING S.L	-	-	-
SIA KONE LIFTI LATVIJA	-	-	-
THAI ELEVATORS & ESCALATORS LTD	-	-	-
THAI ELEVATORS HOLDING LTD	-	-	-
TOSCA ASCENSORI S.R.L	-	-	-
UAB ELEKTROS PAVARA IR KO	-	-	-
UAB UNIKALI IDEJA	-	-	-
UK LIFT LTD	-	-	-
VTP-TRACTORES S.A	-	-	-
VYTAHY SLAVÍK SPOL. S.R.O	-	-	-
WALDOOR POLSKA SP.Z.O.O	-	-	-
WALDOOR S.R.O	-	-	-
ZAO KONE LIFTS MOSCOW	-	-	-
ZAO KONE LIFTS ST. PETERSBURG	-	-	-

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.63.33
UK Pound	1	Rs.96.52
Euro	1	Rs.68.93

INFORMATION DETAILS

Analysis Done by :	DIV

Report Prepared by :	ANK

RATING EXPLANATIONS

RATING		STATUS	PROPOSED CREDIT LINE
>86	Aaa	Possesses an extremely sound financial base with the strongest capability for timely payment of interest and principal sums	Unlimited
71-85	Aa	Possesses adequate working capital. No caution needed for credit transaction. It has above average (strong) capability for payment of interest and principal sums	Large
56-70	A	Financial & operational base are regarded healthy. General unfavourable factors will not cause fatal effect. Satisfactory capability for payment of interest and principal sums	Fairly Large
41-55	Ba	Overall operation is considered normal. Capable to meet normal commitments.	Satisfactory
26-40	B	Capability to overcome financial difficulties seems comparatively below average.	Small
11-25	Ca	Adverse factors are apparent. Repayment of interest and principal sums in default or expected to be in default upon maturity	Limited with full security
<10	C	Absolute credit risk exists. Caution needed to be exercised	Credit not recommended
--	NB	New Business	--

This score serves as a reference to assess SC’s credit risk and to set the amount of credit to be extended. It is calculated from a composite of weighted scores obtained from each of the major sections of this report. The assessed factors and their relative weights (as indicated through %) are as follows:

Financial condition (40%) Ownership background (20%) Payment record (10%)

Credit history (10%) Market trend (10%) Operational size (10%)

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.