Schindler Finishes 2017 on a Higher Level Than Peer Kone, but Shares Look Expensive
Similar to its peer Kone, Schindler’s fourth-quarter 2017 results reflected impressive sales and order book growth, but Schindler managed to grow earnings at a faster clip in both the quarter and the year, with 8.6% growth for the full year, due to margin expansion. The company reported 6% organic order and revenue growth in the fourth quarter, not far from Kone’s respective 5.3% and 6.8% growth rates. On EBIT margins, Switzerland-based Schindler expanded margins by 30 basis points for the quart...
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