Schindler Holding AG

Earnings Release • Apr 18, 2024

Ad hoc announcement pursuant to Art. 53 LR

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.

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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

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End of Inside Information

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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