Schindler reported Q1 23 figures above consensus expectations on the top line and margin, but on missed order intake expectations and posted a mixed FCF generation weight by WC, while confirming its FY23 guidance. The better-than-expected performance in Q1 23 confirmed the turnaround of the negative margin trend seen in FY22. While the Chinese real estate market has yet to rebound, the market outlook for the Americas and EMEA was revised downwards on customer caution owing to the weakening econo ....
