Schindler Holding AG (SCHP.SW,SCHN.SW), a Swiss maker of escalators, moving walkways, elevators, and others, on Friday recorded an increase in net profit for the third quarter. However, the company registered a decline in revenue.
For the three-month period to September, Schindler posted a net income of CHF 265 million, or CHF 2.36 per share, higher than CHF 254 million, or CHF 2.16 per share, in the same period last year.
Profit before taxes moved up to CHF 336 million from last year's CHF 324 million. Operating profit was CHF 347 million, up from the previous year's CHF 327 million. Excluding items, operating income stood at CHF 372 million as against CHF 350 million a year ago.
Revenue was CHF 2.668 billion, down from CHF 2.788 billion in the previous year.
Looking ahead, the company said: "For 2025, Schindler now expects an EBIT reported margin of ~12.5% (previous: ~12%) and low single-digit revenue growth in local currencies (unchanged). For the midterm, Schindler reconfirms the objective to reach an EBIT reported level of 13%."
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