Schindler Holding Ltd : Pressure on volumes and margins set to remain in place for several quarters
>Q3 2021 suffered from significant constraints on the supply chain - Orders at constant currency (cc) rose by 8.8% in Q3 (consensus at 4.7% and ODDO BHF at 7.5%). Sales were up by just 0.4%cc (consensus at 3%, ODDO BHF at 2%). Management mentioned difficulties on the supply chain and a slowdown in projects. Adjusted EBIT came in at CHF 308m in Q3, i.e. 5% below forecasts and the margin was 11%, -120bp. For the first nine months of 2021, the adjusted EBIT margin was up...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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