Schindler Holding AG Part.Cert.

Schindler Holding is a holding company. Co. through its subsidiaries is engaged in the production of escalators, elevators and moving walks. Co. operates globally in one main division: Elevators and Escalators. The Elevators and Escalators division provides a range of elevators for different applications, including freight and special elevators, high-rise elevators, residential elevators and commercial elevators. Co. also provides commercial and public transport escalators and inclined and horizontal moving walks.
  • TickerSCHP
  • ISINCH0024638196
  • ExchangeSix Swiss Exchange
  • SectorIndustrial Engineering
  • CountrySwitzerland
Alfred Glaser ...
  • Delphine Brault

ODDO : Focus on construction: the day after - which stocks to favour when we exit the crisis?

We see the capacity to reignite growth quickly, both in organic terms and via acquisitions, as a key differentiating factor for the stocks in the sector, The main themes (energy efficiency, health in buildings) will be favoured, as will exposure to China. We favour Assa Abloy. Our preference also goes to KONE and Schneider Electric on which we are revising up our recommendations to Buy. We are lowering our recommendation to Neutral on Schindler. - >Capacity to reignite gr...

Alfred Glaser ...
  • Delphine Brault

ODDO : Focus Construction : le jour d’après … quelles valeurs en sortie de crise ?

La capacité des groupes à réamorcer la croissance rapidement sera, selon nous, un facteur de différenciation clé, tant en organique que par les acquisitions. Par ailleurs, des grands thèmes (efficacité énergétique, hygiène dans les bâtiments) seront privilégiés, tout comme l’exposition Chine. Nous privilégions Assa Abloy ainsi que KONE et Schneider Electric dont nous relevons nos recommandations à l'Achat et abaissons à Neutre notre recommandation sur Schindler. - >La cap...

Alain William ...
  • Alfred Glaser
  • Benoit Valleaux
  • Charles Lepetitpas
  • Christophe-Raphaël Ganet
  • Delphine Brault
  • Jean Danjou
  • Jerôme Bodin
  • Johanna Jourdain
  • Martial Descoutures
  • Matthias Desmarais
  • Michael Foundoukidis
  • Nicolas David
  • Pierre Tegner
  • Roland Pfaender,MBA,CFA,CCRA
  • Sebastien Malafosse
  • Stephane Houri
  • Sven Edelfelt
  • Sylvain Goyon, CFA
  • Virginie Rousseau

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 04/22/2020

The rise in share prices from the low points raises questions. The arguments in favour, an unprecedented response from states and central banks, the probable reaching of the pandemic peak and the beginning of the lifting of lockdown measures, are known. But a slew of unknown elements (the profits mass post-normalisation, possible epidemic rebound) persist and the macro low point has not yet been reached. A modelling of the time to reach the trough carried out on the last 5 bear marke...

Alain William ...
  • Alfred Glaser
  • Benoit Valleaux
  • Charles Lepetitpas
  • Christophe-Raphaël Ganet
  • Delphine Brault
  • Jean Danjou
  • Jerôme Bodin
  • Johanna Jourdain
  • Martial Descoutures
  • Matthias Desmarais
  • Michael Foundoukidis
  • Nicolas David
  • Pierre Tegner
  • Roland Pfaender,MBA,CFA,CCRA
  • Sebastien Malafosse
  • Stephane Houri
  • Sven Edelfelt
  • Sylvain Goyon, CFA
  • Virginie Rousseau

ODDO BHF SECURITIES MORNING NEWS – COMMENTAIRES DETAILLES 22/04/2020

La progression des cours depuis les points bas pose question. Les arguments favorables, réponse sans précédent des états et des banques centrales, atteinte probable du pic épidémique et début du déconfinement, sont connus. Mais nombre d’inconnues (masse des profits post normalisation, absence de rebond épidémique) restent entières et le point bas macro n’a pas encore été atteint. Une modélisation du délai d’atteinte du point bas réalisée sur les 5 derniers bear market, qui aboutit à u...

Alfred Glaser ...
  • Delphine Brault

Schindler Holding Ltd : Remarkable resilience in revenues in Q1, not so the EBIT margin

>Q1 2020: revenues down -0.2% organic with the adjusted EBITA margin down -190bp - The group reported earnings that came in ahead of our forecasts (and which seem relatively close to the consensus, though we do not know how many analysts are included) but which also showed weak EBIT margin resilience despite the services business. Revenues were virtually stable and yet the adjusted EBIT margin contracted by 190bp.Orders were down 3.2% in local currencies (vs...

Alfred Glaser ...
  • Delphine Brault

ODDO : Focus on construction: the day after - which stocks to favour when we exit the crisis?

We see the capacity to reignite growth quickly, both in organic terms and via acquisitions, as a key differentiating factor for the stocks in the sector, The main themes (energy efficiency, health in buildings) will be favoured, as will exposure to China. We favour Assa Abloy. Our preference also goes to KONE and Schneider Electric on which we are revising up our recommendations to Buy. We are lowering our recommendation to Neutral on Schindler. - >Capacity to reignite gr...

Alfred Glaser ...
  • Delphine Brault

ODDO : Focus Construction : le jour d’après … quelles valeurs en sortie de crise ?

La capacité des groupes à réamorcer la croissance rapidement sera, selon nous, un facteur de différenciation clé, tant en organique que par les acquisitions. Par ailleurs, des grands thèmes (efficacité énergétique, hygiène dans les bâtiments) seront privilégiés, tout comme l’exposition Chine. Nous privilégions Assa Abloy ainsi que KONE et Schneider Electric dont nous relevons nos recommandations à l'Achat et abaissons à Neutre notre recommandation sur Schindler. - >La cap...

Alfred Glaser ...
  • Delphine Brault

Schindler Holding Ltd : Remarkable resilience in revenues in Q1, not so the EBIT margin

>Q1 2020: revenues down -0.2% organic with the adjusted EBITA margin down -190bp - The group reported earnings that came in ahead of our forecasts (and which seem relatively close to the consensus, though we do not know how many analysts are included) but which also showed weak EBIT margin resilience despite the services business. Revenues were virtually stable and yet the adjusted EBIT margin contracted by 190bp.Orders were down 3.2% in local currencies (vs...

Alfred Glaser ...
  • Delphine Brault

Schindler Holding Ltd : Remarquable résistance du CA au T1, mais pas de la marge d’EBIT

>T1 2020: -0.2% de CA organique et -190pb de marge d’EBITA ajusté - Le groupe a publié des résultats supérieurs à nos attentes (et qui semblent relativement proches de celles du consensus, sans connaître le nombre de participants) mais qui montrent aussi une faible résilience de la marge d’EBIT, malgré les services. En effet, le CA est quasi stable et pourtant la marge d'EBIT ajusté recule de 190 pb.Les commandes sont en recul de 3.2% en monnaies locales (vs...

Delphine Brault ...
  • Sven Edelfelt
  • Virginie Rousseau

ODDO : Sudden halt to activity in the construction sector in France

>80% of building sites at a standstill in France according to a FNTP survey - A recent survey of its members by the national public works federation (FNTP) sheds an interesting light on the situation on the construction market in France (survey conducted between 23 and 26 March). Nearly 1,600 companies responded (21%) with an overweighting for the Auvergne Rhône-Alpes, Hauts-de-France, Brittany and Ile-de-France regions. 80% of companies reported a complete stoppage o...

Alain William ...
  • Alfred Glaser
  • Benoit Valleaux
  • Charles Lepetitpas
  • Christophe-Raphaël Ganet
  • Delphine Brault
  • Jean Danjou
  • Jerôme Bodin
  • Johanna Jourdain
  • Martial Descoutures
  • Matthias Desmarais
  • Michael Foundoukidis
  • Nicolas David
  • Pierre Tegner
  • Roland Pfaender,MBA,CFA,CCRA
  • Sebastien Malafosse
  • Stephane Houri
  • Sven Edelfelt
  • Sylvain Goyon, CFA
  • Virginie Rousseau

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 04/22/2020

The rise in share prices from the low points raises questions. The arguments in favour, an unprecedented response from states and central banks, the probable reaching of the pandemic peak and the beginning of the lifting of lockdown measures, are known. But a slew of unknown elements (the profits mass post-normalisation, possible epidemic rebound) persist and the macro low point has not yet been reached. A modelling of the time to reach the trough carried out on the last 5 bear marke...

Alain William ...
  • Alfred Glaser
  • Benoit Valleaux
  • Charles Lepetitpas
  • Christophe-Raphaël Ganet
  • Delphine Brault
  • Jean Danjou
  • Jerôme Bodin
  • Johanna Jourdain
  • Martial Descoutures
  • Matthias Desmarais
  • Michael Foundoukidis
  • Nicolas David
  • Pierre Tegner
  • Roland Pfaender,MBA,CFA,CCRA
  • Sebastien Malafosse
  • Stephane Houri
  • Sven Edelfelt
  • Sylvain Goyon, CFA
  • Virginie Rousseau

ODDO BHF SECURITIES MORNING NEWS – COMMENTAIRES DETAILLES 22/04/2020

La progression des cours depuis les points bas pose question. Les arguments favorables, réponse sans précédent des états et des banques centrales, atteinte probable du pic épidémique et début du déconfinement, sont connus. Mais nombre d’inconnues (masse des profits post normalisation, absence de rebond épidémique) restent entières et le point bas macro n’a pas encore été atteint. Une modélisation du délai d’atteinte du point bas réalisée sur les 5 derniers bear market, qui aboutit à u...

Alain William ...
  • Alfred Glaser
  • Benoit Valleaux
  • Bruno Cavalier
  • Delphine Brault
  • Florent Laroche-Joubert
  • Jean Sassus
  • Martial Descoutures
  • Pierre Tegner
  • Roland Pfaender,MBA,CFA,CCRA
  • Sebastien Malafosse
  • Steven Gould
  • Sven Edelfelt
  • Virginie Rousseau

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 04/06/2020

A sector hard hit by COVID-19, with EPS estimates slashed by 35% and target prices by >25%; many high-risk stocks (e.g. Haulotte, Manitou, Exel Industries …) and few safe profiles (e.g. Albioma, Rubis and GTT). - ...

Delphine Brault ...
  • Emmanuel Matot
  • Sven Edelfelt
  • Virginie Rousseau

ODDO BHF Small & MIDCAP MORNING NEWS - 04/06/2020

A sector hard hit by COVID-19, with EPS estimates slashed by 35% and target prices by >25%; many high-risk stocks (e.g. Haulotte, Manitou, Exel Industries …) and few safe profiles (e.g. Albioma, Rubis and GTT). - ...

Alain William ...
  • Alfred Glaser
  • Benoit Valleaux
  • Bruno Cavalier
  • Delphine Brault
  • Florent Laroche-Joubert
  • Jean Sassus
  • Martial Descoutures
  • Pierre Tegner
  • Roland Pfaender,MBA,CFA,CCRA
  • Sebastien Malafosse
  • Steven Gould
  • Sven Edelfelt
  • Virginie Rousseau

ODDO BHF SECURITIES MORNING NEWS – COMMENTAIRES DETAILLES 06/04/2020

Un secteur très impacté par COVID-19 avec une révision en baisse de ~35% des BPA et >25% de nos OC – De nombreux dossiers à risque élevé (Haulotte, Manitou, Exel Industries…) et rares sont les profils assez safe (Albioma, Rubis, GTT). - ...

Ford Equity International Rating and Forecast Report

Ford Equity International Research Reports cover 60 countries with over 30,000 stocks traded on international exchanges. A proprietary quantitative system compares each company to its peers on proven measures of business value, growth characteristics, and investor behavior. Ford's three recommendation ratings buy, hold and sell, represent each stock’s return potential relative to its own country market.. The rating reports which are generated each week, include the fundamental details behind each recommendation and reflect the fundamental and price data as of the last trading day of the week...

Schindler Holding AG – Proxinvest Corporate Governance Rating ® : D

Proxinvest Corporate Governance Rating ® helps investors integrate governance into their investment decision and identify governance risks and opportunities within their portfolio. Proxinvest Corporate Governance Rating ® Service rates European issuers through the analysis of four main themes : Ownership & Shareholder rights, Board & Committees, Audit & Process, Remuneration. Each theme is rated taking into account several comprehensive sub-categories. Our unique two-step process to achieve each rating includes a first step quantitative valuation and a second step qualitative filter...

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