Ana CanteroRos & Alexander Kloss

(Reuters) – Schindler, a Swiss elevator- and escalator manufacturer, reported Friday a decline in its first quarter net profit. However, the consensus forecast was still exceeded despite China’s supply chain woes, inflation and lockdowns.

The net profit at 144 millions Swiss Francs (151.07 Million) was lower than the 213 million figure in the previous year, but it beat the prediction of 137.4million francs by company analysts.