Key figures Q3/2012: Growth and improved profitability
Schindler generated an 8.2% increase in orders received and a 6.5% rise in revenue in a continued challenging economic environment during the reporting period from January 1 to September 30, 2012. In local currencies, orders received grew by 7.8% and revenue rose by 6.1%.
The elevators and escalators business recorded an operating profit (EBIT) of CHF 752 million, representing an improvement of CHF 59 million or 8.5%. The EBIT margin was 12.4% for the first nine months of the year and it reached 12.8% in the third quarter.
This performance reflects the successful execution of the package of measures referred to as LEAP (Leading in Execution and Accelerating Performance) that was launched in the fourth quarter of 2011 and focuses on the expansion of the business in the strategic growth markets of Asia and South America on the one hand, and on the enhancement of competitiveness and productivity on the other. Parts of the operational improvements and savings that were achieved were, however, offset by significant pricing and cost pressures.
Net profit totaled CHF 522 million and was thus in line with the same period of the previous year (CHF 521 million). Adjusted for the one-off accounting gain of CHF 35 million recorded in 2011, net profit exceeded the result for the same period of the previous year by 7.4%.