Schindler Holding AG: Increase in revenue and profit

OREANDA-NEWS. In the first quarter of 2015, orders received reached CHF 2 443 million, in line with the same period of the previous year (CHF 2 442 million). In local currencies, an increase of 2.2% was recorded compared to the strong first quarter of 2014, which included a higher share of large projects. Revenue grew by 4.4% to CHF 2 137 million (+7.0% in local currencies). Operating profit (EBIT) amounted to CHF 222 million, corresponding to an increase of 8.3% (+13.7% in local currencies) compared to the first quarter of 2014. The EBIT margin improved from 10.0% to 10.4%. At CHF 168 million, net profit rose by 5.0% compared to the same period of the previous year.

Outlook for 2015

Thanks to its strong order backlog, Schindler expects to generate an increase in revenue of 7% to 9% in local currencies for 2015. Reflecting the recent recovery of the US dollar, the negative translation impact from foreign currencies will be lower than the 10% estimated at the beginning of the year. A forecast concerning net profit for 2015 will be issued with publication of the company’s half?year results.