The translation of the heading is: "Otis defies the market situation with stable service growth.

Otis continues to demonstrate resilience and a service-oriented approach, as impressively shown by the recent business figures. The company, known globally as a leading provider of elevators and escalators, reported remarkable revenue growth in the service sector in the high single digits for the third quarter of 2023, leading to organic service revenue growth of 6.4% year-to-date. All business segments contributed to the success, with the maintenance portfolio growing by 4.2% and modernization order intake increasing by 12%. Financially, the company also showed strength: the adjusted operating profit margin increased by 60 basis points, while the adjusted earnings per share rose by 8.2%. Particularly impressive was the generation of free cash flow of $381 million in the third quarter. Additionally, $800 million was returned to shareholders through share buybacks over the year. In China, the situation remains challenging, leading to a decline in orders by over 20%. Nevertheless, orders in the Americas increased by over 20%, while the Asia-Pacific region recorded strong growth in the high single digits, driven by Japan and Southeast Asia. In the modernization sector, Otis achieved notable success in large projects and expects a solid increase in modernization orders for the fourth quarter. The order situation in the third quarter also demonstrated the consistent growth story of the maintenance portfolio. With the growing needs in India, Otis announced the expansion of its production facility in Bengaluru. Internationally, the company achieved remarkable successes, including modernization projects in Australia and the USA, as well as new major orders in China. Despite market uncertainties, Otis forecasts a slight decline in the new equipment business for 2024, but remains optimistic about the continued development of the service model.