5Mon·

When it comes to elevators, you either know Schindler $SCHN (-0.18%) from der🇨🇭, Kone $KNEBV (+2.06%) from 🇫🇮 or Thyssen Krupp $TKA (+0.54%) from 🇩🇪.

But the market leader is Otis from 🇺🇸 and in fact most of the apartment buildings that have been built recently in my city have an Otis elevator. The difference to the others, the Otis elevators have a fancy display with weather forecast and news ticker. If I hadn't invested here, I probably would never have noticed which manufacturer the elevator is from.

Otis Earnings July 2024

Earnings per share increased by 15.2 % to $1.06 compared to the previous year
Treasury shares bought back for $300 million
Dividend at 1.56% ($0.39 per quarter)

https://www.otisinvestors.com/news/news-details/2024/OTIS-REPORTS-SECOND-QUARTER-2024-RESULTS/default.aspx

16.08

Otis Worldwide

Bought x0.297 at €84.10

€25.00

9 Comments

Kai@Dividenden-Sammler

5Mon

It's always interesting to see which companies you get to know that you didn't have on your radar or didn't even know about.

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Hebel-Horst@DoppelSchlechtMinus

5Mon

As a shareholder in the MFH, I notice from the logo on the horrendous maintenance bills that our elevator is from Otis... I should immediately work out how many shares I would need to be able to pay for the dirty thing from the dividend.

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Homer@Simpson

5Mon

@Dividensenmann That's the great thing about the elevator business, sell the elevator once and continue to pay for maintenance for the rest of your life 😁👍

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Ella Marie Waschbär@DividendenWaschbaer

5Mon

Is the order book at $SCHN actually called Schindler's List?

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Paketknecht@Paketknecht

5Mon

I have Kone, it hasn't been doing so well for 3 years, but I'm convinced of it in the long term. Elevators and escalators are a good business, as you can see from the long-term charts of the 3 big companies.

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Homer@Simpson

5Mon

@Paketknecht The chart looks better for Otis, but they have only been on the stock exchange since 2020, since the spin-off.
Business is boring but still growing. More living space and an increasingly older society.

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Daniel@OKH

1Wk

Hi Homer!
As an industry insider, I can only tell you that I would not invest a single euro in any of the 4 companies (only 3 are currently listed on the stock exchange). The $TKA listed above has nothing to do with thyssenkrupp's elevator division. The elevator division was already sold on 20.02.2020 (for 17 billion) to a consortium of the companies Cinven and Advent and RAG Stiftung. The elevator division is now called TKE or, in Germany, TK Aufzüge GmbH. TKE is currently preparing an IPO, which is likely to take place in 2027. Here, too, I would not invest a single euro given the company's current model policy. Basically, it can be said that most profits in this industry are generated through maintenance and spare parts. Although everything in the construction segment has become much more expensive, new systems remain almost stable or have even become cheaper in some configurations.
A side note: displays with news or weather forecasts can be supplied by any of the big 4 😉 Incidentally, TKE works together with Microsoft and Nvidia to provide customers with the best possible results.

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Homer@Simpson

1Wk

@OKH Thanks for the info 😊👍 Otis is running in the savings plan for now, return still has room for improvement, but at least so far no total failure, the last figures were solid and share buyback should provide some return in the long term, let's see what will happen 😊

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Robert@Iwant_money_423

5Mon

Interesting business. But I always lack the imagination for much growth. But I'll take a closer look

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