Schindler Posts Impressive 1Q and Once Again Feels Less Margin Pain Than Kone
As with the previous quarter, Schindler posted robust growth in the first quarter, with better results on margins relative to peer Kone, owing to the Swiss company's lower exposure to pricing pressure in China. Organic growth, adjusting for the impact of IFRS 15, was just over 6%, similar to the 6% pace in the fourth quarter, with Europe, the Middle East, and Africa, or EMEA, the greatest growth contributor. Like Kone, Schindler saw a year-over-year margin drop, but not as severe, down just 10 b...
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