Solid start to the year
- Solid start to the year for Schindler Holding AG
- Growth in order intake and revenue in local currencies
- 2024 guidance reiterated: EBIT margin of 11%
Schindler Holding AG / Key word(s): Quarter Results 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 Management Ltd.
Zugerstrasse 13
6030 Ebikon
Switzerland
Tel. +41 41 445 32 32
corporate.communications@schindler.com
group.schindler.com
News Source: Schindler Holding AG
End of Inside Information
Language: | English |
Company: | Schindler Holding AG |
Zugerstrasse 13 | |
6060 Ebikon | |
Switzerland | |
Phone: | +41414453060 |
E-mail: | corporate.communications@schindler.com |
Internet: | www.schindler.com |
ISIN: | CH0024638212, CH0024638196 |
Valor: | 002463821 |
Listed: | SIX Swiss Exchange |
EQS News ID: | 1883175 |
End of Announcement | EQS News Service |
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1883175 18-Apr-2024 CET/CEST