Schindler Holding Ltd : Decent Q1 but cautious stance on the rest of the year
>Q1 marked by strong growth but EBIT shy of expectations - Like KONE last Thursday, Schindler reported decent Q1 figures thanks to better-than-expected sales growth while the adjusted EBIT margin, however, was 30bp shy of estimates. Accordingly, orders showed growth of 6.4% at constant forex (consensus at +3.3%) and sales rose 5.8% (consensus at +4.5%). The group indicated that both new equipment and services contributed to this pace of growth. The adjusted EBIT margi...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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