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OTIS WORLDWIDE CORPORATION

(OTIS)
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Otis Worldwide : Gen3 Elevator Gets 1st Repeat Customer in China

10/15/2021 | 10:32am EST

Yuelanshang Property Developer Company was one of the first customers for the new Gen3™ elevatorin China when it ordered 110 units in June for a high-end residential complex of 300,000 square meters being built in Jilin province.

Now the company is the first repeat Gen3 elevator customer, after it placed a second order for an additional 123 Gen3 elevator systems for four more projects - three commercial and one residential - in northeast China.

The digitally native Gen3 elevator launched in Chinain June. It is designed around a digital ecosystem and Internet of Things (IoT) connectivity, and has Otis ONE™connectivity built in to allow around-the-clock performance monitoring - enabling predictive maintenance and remote service. The Gen3 elevator is built on the proven flat-belt technology of Otis's best-selling Gen2 elevator for improved ride comfort and energy efficiency.

"Gen 3 represents our shared future and vision for the seamless urban journey," said Otis China President Perry Zheng. "Strong customer traction reaffirms the Gen3 elevator's new value - advancing elevator uptime and safety protection for passengers as core to a smart building ecosystem."

Making it the ideal choice for modern developments, the Gen3 elevator also incorporates the Otis in-car display and Cab Air Purifier for enhanced passenger wellbeing, as well as the Otis ReGen™ drive, LED lighting and sleep mode to help reduce energy usage.

Click to learn more about Otis' new generation of digitally native elevator platforms, the Gen3 and Gen360 elevators.

Disclaimer

Otis Worldwide Corporation published this content on 15 October 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 15 October 2021 14:31:01 UTC.


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Financials (USD)
Sales 2021 14 323 M - -
Net income 2021 1 250 M - -
Net Debt 2021 3 899 M - -
P/E ratio 2021 27,6x
Yield 2021 1,18%
Capitalization 34 173 M 34 173 M -
EV / Sales 2021 2,66x
EV / Sales 2022 2,61x
Nbr of Employees 69 000
Free-Float 97,3%
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Number of Analysts 15
Last Close Price 80,45 $
Average target price 91,18 $
Spread / Average Target 13,3%
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Managers and Directors
Judith F. Marks President, Chief Executive Officer & Director
Rahul Ghai Chief Financial Officer & Executive Vice President
Christopher J. Kearney Executive Chairman
Ricardo Mu˝oz Vice President-Engineering
Todd Glance Vice President-Operations
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