sales increased compared to the prior year period by 4.4 percent to 2.58 billion Swiss francs, as the group announced on Friday. The order intake grew meanwhile in the quarter to 6.4 percent, to 2.97 billion.
in order for Schindler by the end of March, has a backlog of 9.13 billion francs in the books. The are 7.6 percent more than a year ago.
All business fields and regions would have increased, Schindler wrote. Increasing order volume with large projects, especially public transport, have supported the business. The Asia-Pacific Region generated the highest growth, mainly thanks to the strongly growing order intake in China, followed by the regions Americas and EMEA (Europe, Middle East, Africa).
The operating result (EBIT) was, however, the value of 274 million francs to 2.5 percent year-on-year. Also, consolidated net profit, the Swiss group recorded a decline of 5.3 percent to 197 million francs.
profit below expectations
With the Numbers, Schindler has met the expectations of analysts in order intake and sales, the profit figures were below expectations. Analysts had expected on average, according to the news Agency AWP, with a turnover of 2.57 billion Swiss francs and an order intake of 2.91 billion. In terms of EBIT, the experts had predicted 285 million and net profit to 213 million Swiss francs.
Rising raw material and wage costs, currency effects, as well as planned higher expenses for strategic projects, such as modularization and digitization have affected the result of the development, wrote the company. As expected, had been compensated for these higher costs in the first quarter only partly.
the Outlook for The current year, 2019, is confirmed. Schindler expects a turnover growth of 4 to 6 percent in local currencies. The Outlook for net profit will be announced with the publication of half-year figures, it said.