Pleasing growth and improved profitability

In the first half of 2016, Schindler pursued its growth strategy while, at the same time, improving profitability. In spite of the softening of the global new installations market, Schindler reported a 2.1% increase in orders received to CHF 5 083 million, corresponding to an increase of 2.3% in local currencies.

Schindler increased revenue by 3.4% to CHF 4 645 million in the first half of 2016 (+3.9% in local currencies). Operating profit (EBIT) rose by 5.9% to CHF 504 million (+7.6% in local currencies) and the EBIT margin reached 10.9% (first half of 2015: 10.6%), or 11.1% before restructuring costs. Net profit improved by 3.9% to CHF 372 million.

Outlook for 2016

Schindler continues to expect that the global elevator and escalator market will experience a slight decline in 2016 due primarily to weakening markets in China and Latin America. The markets in Asia-Pacific, excluding China, and in Europe are likely to achieve further moderate growth. In North America, Schindler continues to expect solid market growth. Furthermore, pricing pressure may persist in many markets.

For the full year 2016 - excluding any unforeseeable events - Schindler expects revenue growth of 3% to 5% in local currencies and a net profit of CHF 750 million to CHF 800 million.

Selected key figures as of June 30, 2016:

January to June

In CHF million

2016

2015

Δ %

Δ %
in LC

Orders received

5 083

4 977

+2.1

+2.3

Revenue

4 645

4 492

+3.4

+3.9

Operating profit (EBIT)

504

476

+5.9

+7.6

in %

10.9

10.6

Net profit

372

358

+3.9

30.06.2016

31.12.2015

Order backlog

9 910

9 364

+5.8

+7.0

Number of employees

57425

56 762

+1.2

The full Interim Report as of June 30, 2016 will be distributed at 06.30 am CET and published on www.schindler.com.




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