Schindler Warns on Profit, China, After Q4 Earnings Fall

Schindler Warns on Profit, China, After Q4 Earnings Fall
The logo of Swiss elevator maker Schindler in Zurich, on Feb. 14, 2020. Arnd Wiegmann/Reuters
Reuters
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Schindler warned of lower profit in 2022 and contraction in its China business due to construction delays and other issues after the maker of elevators and escalators posted lower quarterly earnings.

The Swiss firm expects a “significant” profitability drop of around 20 percent for the first half of the year, Chief Financial Officer Urs Scheidegger said on a conference call.