Schindler Holding AG / Key word(s): Quarter Results
On track to deliver
19-Oct-2023 / 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
Order intake and revenue: growth despite challenging construction markets
Net profit and earnings per share: significantly up
Cash flow from operating activities: year-on-year uptake driven by improved operational performance
Balanced global footprint limiting exposure to China’s construction downturn
Strong foreign exchange headwinds
Sharpened outlook for full year 2023
In the first nine months of 2023, both order intake and revenue increased in local currencies by 1.7% and 8.5% respectively to CHF 8 595 million and CHF 8 534 million despite a challenging market environment. Operating profit increased by 44.1% to CHF 892 million, corresponding to an EBIT margin of 10.5%. Net profit substantially improved to CHF 691 million, corresponding to a net profit margin of 8.1%. Cash flow from operating activities increased by 92.6% to CHF 724 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 around 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
Marco Knuchel | Head Investor Relations
Phone +41 41 445 30 61 marco.knuchel@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