Market Overview

Schindler Q1 Net Profit Declines 15%

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Schindler Holding AG (OTC: SHLAF) reported a 15% fall in its first-quarter profit.

In the first quarter, Schindler posted a 5.4% rise in orders received to CHF2.19 billion and a 3.1% surge in revenue to CHF1.90 billion. In local currencies, orders received surged 9.5% and revenue gained 7.3%.

Schindler's elevators and escalators business posted an operating profit (EBIT) of CHF224 million.

Schindler's net profit fell to CHF156 million, versus CHF183 million, in the previous year.

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