TK Elevator Announces Third-Quarter and Nine-Month FY 2026 Financial Results: Strong Momentum Continues, Delivering Growth Across All Business Lines, and New Profit and Margin Records

Düsseldorf (Germany), August 28, 2026 – TK Elevator (TKE), a global leader in vertical transportation and urban mobility solutions reports continued strong momentum in the third quarter (Q3) and nine months (9M) of financial year (FY) 2026 (the 12-month period ending 30 September 2026) across orders, sales, and profitability. The strong financial performance was fueled by broad-based top-line growth across all business lines, and disciplined cost management across all regions, driving Adjusted EBITDA and margin to new Q3 and 9M records.

TK Elevator CEO Uday Yadav said: “This is another set of exceptional results. Our growth and profitability momentum continues unchanged: as we capitalize on structural growth opportunities through our strategic focus on Service and Modernization; and New Installation sales return to growth, despite ongoing headwinds in the China and South Korea new construction sector, underpinned by our successful EOX introduction.

Sales growth, combined with ongoing efficiency gains, delivered 7% Adjusted EBITDA growth in the third quarter and improved margins to 18.8%. Our 14th consecutive quarter of profit growth underscores the strength of our business model and reflects the progress of our multi-year transformation.

Increasing EOX sales in Europe and the Americas, the scaling of our AI-enabled service delivery model in North America, and the groundbreaking ceremony for the TKE ALAT facility in Saudi Arabia, demonstrate the global momentum across TKE.”

Driving Service and Modernization

Service and Modernization sales continued their structural growth, with both business lines delivering positive year-on-year improvements in every single quarter for more than five years. Service sales increased 5% to new Q3 and 9M highs of €1.1 billion and €3.4 billion, respectively, driven by growth across all regions. This reflects the continued growth of the service portfolio to more than 1.4 million units under maintenance, as well as further increased value per service unit, supported by strong repair sales across all regions. Modernization sales also increased 7% to new Q3 and 9M highs of €0.4 billion and €1.2 billion, respectively, led by strong growth in Europe-Africa.

Winning in the New Installation (NI) market

In a tough and competitive macro-economic environment, NI sales increased 1% to €0.8 billion in Q3, and to €2.3 billion in the first nine months, respectively. Challenging new construction sectors in China and South Korea were offset by EOX-led growth in Europe and the Americas.

Executing Today, Investing for Tomorrow

Alongside this strong operational and financial performance, TKE continues to invest in future growth and value creation. We are further expanding our EOX capabilities and market coverage in NI and Modernization across Europe and the Americas. At the same time, we are scaling our AI-enabled service delivery model, initially launched in North America, which is already generating tangible early benefits.

In Asia-Pacific, we are pursuing attractive structural growth opportunities in Modernization and Service while expanding our presence in high-growth markets such as India and the Middle East. In June, TKE ALAT, our joint venture with Alat, a subsidiary of Saudi Arabia's Public Investment Fund (PIF), celebrated the groundbreaking of a new elevator and escalator manufacturing and multi-purpose facility in Dammam's Third Industrial City. The facility positions TKE ALAT to benefit from the Kingdom's long-term infrastructure and urban development investments. Early commercial traction is already visible, with the Middle East delivering strong order intake growth in every quarter of the current fiscal year.

Planned combination with KONE on Track

On April 29, 2026, TKE and KONE Corporation announced plans for a transformative business combination to create one of the world’s leading elevator and escalator companies. Since the announcement, the transaction has been approved by Kone’s shareholders, while the regulatory review process is progressing as planned, with filings submitted or underway in all key jurisdictions. Closing is expected in Q2 2027 at the earliest, as previously announced.

Uday Yadav, CEO of TK Elevator, added: “These continued strong results are a testament to our teams around the world and another proof point of our successful transformation journey. Working together, we are well positioned to deliver a strong finish to the year and continue creating value for all our customers, employees and stakeholders.”

PRESS IMAGES
can be downloaded here (Credits: TK Elevator).

PRESS CONTACT
Alastair Hetherington, alastair.hetherington.external@tkelevator.com, +49 153 346 05894
Amy Flécher, amy.flecher@tkelevator.com, +49 162 616 9953
TK Elevator GmbH, press@tkelevator.com, tkelevator.com

ABOUT TK ELEVATOR
TK Elevator (TKE) is a global leader in vertical transportation and urban mobility. We provide engineering that keeps the world moving, including design, installation, and maintenance of elevators, escalators, walkways, lifts, passenger boarding bridges, stairlifts, platform lifts and home elevators – including multi-brand modernization and service any place, any time. With TKE’s AI and digital solutions there are no longer any limits to urban mobility. TKE became independent following its separation from the thyssenkrupp group in 2020. The company achieved sales of €9.2 billion in fiscal year 2025. With around 50,000 employees, 25,000 service technicians and over 1,000 support centers globally, we are moved by what moves people. TKE – Move Beyond.