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Schindler Holding Q3 profit falls YOY

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Schindler Holding Q3 profit falls YOY

Schindler Holding AG said its normalized net income for the third quarter amounted to CHF1.39 per share, a decrease of 35.3% from CHF2.16 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was CHF161.9 million, a decrease of 34.4% from CHF246.9 million in the year-earlier period.

The normalized profit margin dropped to 7.0% from 10.7% in the year-earlier period.

Total revenue came to CHF2.31 billion, compared with CHF2.31 billion in the prior-year period, and total operating expenses climbed 6.3% year over year to CHF2.06 billion from CHF1.94 billion.

Reported net income decreased 41.3% on an annual basis to CHF195.0 million, or CHF1.68 per share, from CHF332.0 million, or CHF2.90 per share.