Schindler Holding: Resilience and innovation in adversity Mittwoch, 17. Februar 2021 - 06:30

Schindler Holding AG / Key word(s): Annual Results

Resilience and innovation in adversity

17-Feb-2021 / 06:30 CET/CEST

Release of an ad hoc announcement pursuant to Art. 53 KR

The issuer is solely responsible for the content of this announcement.

Order intake decreased 3.2% in local currencies after the construction sector contracted in some key markets as a consequence of the global pandemic
Cash flow from operating activities increased by 33.4%, reaching CHF 1 581 million
Total restructuring costs reached CHF 135 million for the year
Foreign currency effects substantially weighed on results
New modular elevator platform launched worldwide with customer feedback above expectations

The COVID-19 pandemic has confronted the world with unprecedented challenges and had significant impacts on Schindler's business in 2020. Order intake decreased by 9.1% to CHF 11 018 million and revenue dropped by 5.6% to CHF 10 640 million, operating profit reached CHF 1 032 million, corresponding to an EBIT margin of 9.7% (EBIT adjusted 11.1%). Net profit amounted to CHF 774 million, and cash flow from operating activities increased to CHF 1 581 million.

Press release (PDF)

End of ad hoc announcement