Finnish elevator and escalator maker Kone has reaffirmed its full-year financial guidance, even as it incurs significant costs associated with its planned acquisition of German rival TK Elevator. The company announced plans in April to acquire TK Elevator for approximately 20 billion euros ($22.80 billion), a move expected to establish Kone as the world's largest elevator manufacturer by sales.

In the second quarter, costs directly tied to the TK Elevator acquisition amounted to 24.3 million euros. Combined with restructuring and pension expenses, these one-off charges reached a total of 47.7 million euros for the period.

Despite these acquisition-related expenses, Kone reported sales growth in its service and modernization segments. This growth helped to counterbalance a minor decrease in new building work, which was primarily influenced by reduced deliveries in Greater China. Overall order intake increased by 11% to 2.56 billion euros, driven by new construction and modernization projects across the Americas, Europe, and the Asia-Pacific, Middle East, and Africa regions. However, the company noted a clear decline in orders received specifically from Greater China.