February 14, 2020 / 9:46 AM / a month ago

Schindler sees 'several hundreds of millions' in lost 2020 sales due to coronavirus

FILE PHOTO: A moving stairway of Swiss elevator maker Schindler is pictured at a mall in Neuss near Duesseldorf, Germany, February 12, 2020. REUTERS/Wolfgang Rattay

ZURICH (Reuters) - Coronavirus-related disruption in China may trim “several hundreds of millions” from Schindler (SCHP.S) sales this year, Chief Executive Thomas Oetterli said on Friday, dragging down the lift-maker’s profits that already fell in 2019.

“It is too early to quantify all the impact on our financial results, since it depends on the timing China comes back to normal,” Oetterli said at a press conference in Zurich.

“However, the first quarter and the half-year results will be heavily impacted. For the full year... a loss of several hundreds of millions on the top line is possible, directly impacting absolute EBIT and profitability,” he added.

Reporting by John Miller

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