Schindler Holding AG / Key word(s): Quarter Results
Solid start to the year
18-Apr-2024 / 06:30 CET/CEST
Release of an ad hoc announcement pursuant to Art. 53 LR
The issuer is solely responsible for the content of this announcement.
Ad hoc announcement pursuant to Art. 53 LR
Key figures as of March 31, 2024
Service and Modernization markets strong; most New Installation markets remain challenging
Growth in order intake and revenue in local currencies
Sustained operational improvement and pricing discipline driving margins: EBIT margin to 10.9% and EBIT adjusted margin to 11.1%
Cash flow from operating activities: up 80.4%
New standardized modular platform launch on track, already accounting for more than 40% of total units sold in the EMEA region
2024 guidance reiterated: EBIT margin of 11%
Despite challenging New Installation markets in the first quarter, both order intake and revenue increased to CHF 2 791 million and CHF 2 673 million, respectively. In local currencies growth was 2.5% and 1.1%, respectively. Operating profit increased to CHF 292 million corresponding to an EBIT margin of 10.9%. The EBIT adjusted margin reached 11.1%, up from 9.7% in Q1 2023. Net profit rose to CHF 232 million, corresponding to a net profit margin of 8.7%. Cash flow from operating activities increased by 80.4% to CHF 507 million.
About Schindler
Founded in Switzerland in 1874, the Schindler Group is a leading global provider of elevators, escalators and related services. Schindler’s mobility solutions move more than 2 billion people every day all over the world. Behind the company's success are over 70,000 employees in more than 100 countries. Schindler is committed to reaching net-zero emissions by 2040 through a 90% absolute reduction of its greenhouse gas emissions in scope 1, 2 and 3 from a 2020 baseline as its long-term science-based emission reduction target, while working to neutralize its residual emissions.
More information
Katherine Lee | Head of External Communications
Phone +41 414 45 36 11 | Mobile +41 79 712 94 99 katherine.lee@schindler.com
Lars Brorson | Head of Investor Relations
Phone +41 414 45 40 36 | Mobile +41 79 543 38 74 lars.brorson@schindler.com
Schindler Holding AG is a Switzerland-based holding company that specializes in the manufacture of escalators, elevators and moving walks. It operates globally within one main segment: Elevators and Escalators. The Elevators and Escalators segment provides a range of elevators for different applications, including freight and special elevators, high-rise elevators, residential elevators and commercial elevators. It also offers commercial and public transport escalators, as well as inclined and horizontal moving walks. It's affiliated company, ALSO Holding AG, which provided information and communications technology and consumer electronics in the wholesale and logistics sectors, was disposed during 2011 and merged with Actebis GmbH, forming ALSO-Actebis Holding AG. In June 2014, closed the real estate development project Mall of Switzerland (formerly EbiSquare) together with Halter AG and sold its stake in EbiSquare AG to Halter AG