Schindler Holding Ltd : Q2 below expectations and the outlook remains uncertain in terms of the pace of recovery
>Q2 adjusted EBIT was down 32% - Last Friday, Schindler published Q2 results (cf. our First Take) that were lower than expected. Orders seem to have held up at -0.6% at constant currencies, but new installations (by volume) are down by more than 10%, with a fall of more than 20% in the Americas and EMEA regions. Sales were down 4.6% at cc and adjusted EBIT came to CHF 230m, 6% below the consensus. The lockdowns in China cost CHF 200m in sales and CHF 50m in adjus...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.
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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