Kone shares were down 2.7 percent at 1226 GMT, compared with a 0.9 percent drop before the earnings report was released, and analysts at Jefferies said they were disappointed by the company's China outlook which they had expected to be "flat".

"The increased uncertainty in many major markets impacts the visibility of the overall market development for 2019 ... In China the market is expected to decline slightly or to be stable in units ordered," Kone said in Thursday's earnings report.

The whole elevator sector has struggled in recent years with falling installations in China, but Kone's U.S.-based rival Otis said on Wednesday it expected continued infrastructure spending by the Chinese government.

Kone reported higher fourth-quarter profit of 319.6 million euros, up from 302.6 million a year earlier and roughly in line with analysts' expectations of 323 million.

The Finnish firm said it expected its adjusted operating profit to return to growth in 2019 and reach between 1.12 billion and 1.24 billion euros (1.08 billion pounds).

The mid-point of Kone's forecast range is 1.18 billion euros, which compares with forecasts for 1.23 billion in a Reuters poll of analysts covering the company.

Jefferies said the adjusted EBIT guidance range meant the market consensus was now at the upper end of the range and would likely see earnings forecast adjusted lower.

(Reporting by Anne Kauranen, editing by Johannes Hellstrom/Jane Merriman/Alexander Smith)