(Reuters) – Swiss elevator manufacturer Schindler said on Thursday that the third quarter net profit fell 0.4% year-on-year. The company cited rising costs and disruptions to global supply chains and stated the problems would persist into the fourth quarter.

Schindler became concerned about the 2021 results due to rising raw materials costs, high cost inflation, and supply chain bottlenecks. Despite having a return to pre-pandemic levels, Schindler still had a positive operating result.

On Thursday, Chief Executive Thomas Oetterli stated that “different recovery in key markets coupled with supply chain problems causes delays in building activities.”

As China is home to 14% percent of Schindler’s sales, the company stated that it was closely following developments there.

Beijing took additional steps to restrain China’s property market in this year’s Chinese financial crisis. These included higher debt limits and purchase restrictions.

Schindler reported a net profit of 234 millions Swiss Francs ($254.74million), slightly lower than the 235 million in a previous year, but higher than the analyst estimates of 220million francs.

In June and September, the order intake of the Swiss company was back at pre-pandemic levels. It stood at 3.0 BILLION Swiss Francs. That’s more than the 2.92Billion registered during the same time period in 2019.

Company confirmed full-year sales guidance and expects a growth of between 4-7%

($1 = 0.9186 Swiss francs)