Brief Statement
August 16, 2016
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 % |
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.
Provider | Channel | Contact | ||
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Tensid EQS Ltd., Switzerland www.tensid.ch |
newsbox.ch www.newsbox.ch |
Provider/Channel related enquiries marco@tensid.ch +41 41 763 00 50 |