SCHINDLER HOLDING AG Solid start to the year
Transparency directive : regulatory news
18/04/2024 06:30
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.
Schindler Management Ltd.
Zugerstrasse 13
6030 Ebikon
Switzerland
News Source: Schindler Holding AG
End of Inside Information
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Language: |
English |
Company: |
Schindler Holding AG |
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Zugerstrasse 13 |
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6060 Ebikon |
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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 |
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End of Announcement |
EQS News Service |
1883175 18-Apr-2024 CET/CEST