ZURICH: The Schindler, a Switzerland insurance group based in Ebikon in the canton of Lucerne, has warned of high franc, saying that net profit rose to 902 million francs last year, a lift of 95 percent from 2013, raising revenue to five percent to 9.25 billion francs.
The company received orders last year amounting to more than 9.9 billion francs, with growth strongest in the Asia Pacific region, led by China, India and southeast Asia.
Schindler also benefited from the uptick in the US market, while “small growth” was recorded in Europe, despited declines in some markets.
The company said it expected to see the elevator and escalator market to continue to grow “above GDP rates” during 2015.
It said China will remain the firm’s dominant market, although the growth rate there is expected to slow down slightly.
While the company forecast revenue growth of seven to nine percent this year in local currencies, it warned that the impact of the strong Swiss franc would negatively impact results by around 10 percent.
Schindler’s board is recommending an additional one franc per share dividend on top of the 2.20-franc ordinary dividend disbursed last year.
The company, which employs more than 53,000 people in more than 100 countries, said it increased its workforce last year by 6,000 people.
