Solid start to the year

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 [phone] | Mobile [phone]
[e-mail]

Lars Brorson | Head of Investor Relations
Phone [phone] | Mobile [phone]
[e-mail]

Schindler Management Ltd.
Zugerstrasse 13
6030 Ebikon
Switzerland 

Tel. [phone]
[e-mail]
group.schindler.com

News Source: Schindler Holding AG

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End of Inside Information

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Language:	English
Company:	Schindler Holding AG
	Zugerstrasse 13
	6060 Ebikon
	Switzerland
Phone:	[phone]
E-mail:	[e-mail]
Internet:	www.schindler.com
ISIN:	CH0024638212, CH0024638196
Valor:	002463821
Listed:	SIX Swiss Exchange
EQS News ID:	1883175

End of Announcement	EQS News Service

1883175  18-Apr-2024 CET/CEST