Schindler Holding Ltd : A Q2 well above expectations but caution for 2020-2021
>Q2: decline of 5.8% in sales at cc, adjusted EBITA margin -30bp - Schindler this morning reported Q2 2020 results broadly ahead of our estimates.Orders at constant currency (cc) were down -9.9% in Q2 (consensus at -12.8% and ODDO BHF at -15%). Schindler indicated that China and the EMEA region remained close to 2019 levels, whilst the Americas were under pressure. Sales declined by 5.8% at cc (consensus: -10.9%; ODDO BHF: -10.5%).Q2 2020 adjusted EBIT came ...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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