Schindler reports Q1 growth, announces Top Speed 23 program, cautious market assessment

For the first quarter of 2021, order intake rose 8.0% to CHF 2 937 million and revenue increased 6.3% to CHF 2 602 million, while operating profit increased to CHF 288 million, corresponding to an EBIT margin of 11.1% (EBIT adjusted 11.6%) supported by favorable prior-year comparison, particularly related to the first quarter 2020 lockdown in China. Net profit amounted to CHF 213 million, and cash flow from operating activities improved from CHF 323 million to CHF 457 million. With these results, order intake, revenue and EBIT are broadly in line with the pre-pandemic performance of Q1 2019. In combination with the first quarter 2021 results, Schindler announces the Top Speed 23 program to accelerate digitization, boost product innovation and to address profitability gaps. The program will cost up to CHF 270 million and will run until 2023.

Press release (PDF)

About Schindler: 
Founded in Switzerland in 1874, the Schindler Group is a leading global provider of elevators, escalators and related services. Schindler mobility solutions move more than 1.5 billion people every day all over the world. Behind the company's success are over 65,000 employees in more than 100 countries.  

More information:
Nicole Wesch, Head Global Communications
Tel. +41 41 445 50 90
nicole.wesch@schindler.com

Investor Relations
Marco Knuchel, Head Investor Relations
Tel. +41 41 445 30 61
marco.knuchel@schindler.com