Schindler Holding AG: Increase in revenue, EBIT and profit

OREANDA-NEWS. Schindler Holding AG: Increase in revenue, EBIT and profit.

The performance in the first quarter of 2016 confirms the effectiveness of Schindler’s strategy. In the first quarter of 2016, orders received totaled CHF 2 467 million, an increase of 1.0% from CHF 2 443 million in the first quarter of 2015 (+2.0% in local currencies). Revenue grew by 1.8% to CHF 2 176 million (+3.3% in local currencies). Operating profit (EBIT) improved by 5.9% to CHF 235 million (+9.5% in local currencies). The EBIT margin rose from 10.4% to 10.8%. Net profit was CHF 182 million, exceeding the result for the first quarter of 2015 by 8.3%.

Outlook 2016

The elevator and escalator market will experience a slight decline in 2016 due primarily to the weakening of the Chinese market and Latin America. The markets in Asia-Pacific excluding China and in Europe are likely to achieve moderate growth while North America is expected to display good growth. Furthermore, pricing pressure may persist in many markets.

The Group will pursue its growth strategy and its measures to improve profitability. Schindler expects to generate an increase in revenue of around 3% to 7% in local currencies for 2016. As in the past, Schindler will issue its net profit forecast for 2016 in combination with the publication of its half-year results.