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Schindler Holding Q2 profit climbs YOY

Schindler Holding AG said its second-quarter normalized net income came to CHF1.27 per share, an increase from CHF1.24 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was CHF134.0 million, compared with CHF133.1 million in the prior-year period.

The normalized profit margin dropped to 5.6% from 5.8% in the year-earlier period.

Total revenue increased year over year to CHF2.35 billion from CHF2.29 billion, and total operating expenses climbed year over year to CHF2.10 billion from CHF2.06 billion.

Reported net income decreased 16.3% from the prior-year period to CHF164.0 million, or CHF1.56 per share, from CHF196.0 million, or CHF1.83 per share.