SHLRF - Schindler Holding: On The Sidelines After The Recent Run
2024-05-19 11:40:00 ET
Summary
- Schindler Group's maintenance and modernization division is offsetting the lower demand for 'new installation' items.
- In 2023, Schindler reported increased operating profit and net income, with strong cash flows and a net cash position.
- In Q1 2024, Schindler's EBIT margin increased, and the company reiterated its full-year targets. The stock is trading at a reasonable valuation, but isn't cheap.
Introduction
Schindler Holding ( OTCPK:SHLAF ) ( OTC:SHLRF ) is one of the few key players in the elevator and escalator oligopoly. The market is nicely divided between Schindler, Kone and Otis . I have been following Schindler for a while now because I like how this Swiss company is managed, as there is a lot of attention for balance sheet safety. Of course, as the world is going through an era of inflation, this results in a lower demand for construction-related items. Schindler is still feeling the impact of a slowdown in the economy, but fortunately, its maintenance and modernization division is picking up the slack....
Schindler Holding: On The Sidelines After The Recent Run