Schindler reports Q1 growth, announces Top Speed 23 program, cautious market assessment Freitag, 30. April 2021 - 06:26
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Schindler Holding AG / Key word(s): Quarterly / Interim Statement Schindler reports Q1 growth, announces Top Speed 23 program, cautious market assessment Release of an ad hoc announcement pursuant to Art. 53 KR The issuer is solely responsible for the content of this announcement. 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.
About Schindler: More information: Investor Relations Schindler Management Ltd.
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