Schindler Holding AG Reports Robust Half-Year Results

Schindler Holding AG has announced strong financial results for the first half of 2024, demonstrating resilience amidst market challenges. The company reported a 1.0% growth in order intake and a 1.4% rise in revenue in local currencies, amounting to CHF 5,768 million and CHF 5,593 million, respectively. Operating profit climbed to CHF 618 million, translating to an EBIT margin of 11.0%. The adjusted EBIT margin was 11.4%.

The company also achieved a significant improvement in cash flow from operating activities, which surged by 30% to CHF 676 million. Net profit increased to CHF 494 million, indicating a net profit margin of 8.8%. Schindler attributed its performance to robust service and modernization markets, despite ongoing challenges in new installation markets.

Product innovation has also played a key role, with the introduction of a new standardized modular platform and a new mid-rise product aimed at the US market. These products have begun to gain traction, further bolstering the company's growth prospects.

Schindler has confirmed its guidance for 2024, signaling confidence in continued performance and market positioning. The company remains committed to enhancing its operational efficiencies and maintaining a strong focus on innovation.