Growth and margin pressure

Ad hoc announcement pursuant to Art. 53 LR

[CORRECTS TO ADD TO OUTLOOK 2022 ON PAGE 3 OF PRESS RELEASE: 'with margin pressure to continue. For the first and second quarter 2022, Schindler expects slow revenue growth and a significant drop in profitability.']

• Order intake and revenue back to 2019 pre-pandemic levels
• Operating results affected by price pressure, supply chain issues, material and freight cost inflation
• Solid cash flow from operating activities
• Top Speed 23 program in execution phase
• New leadership set-up in place to accelerate execution of strategic priorities

A mix of challenges, including price pressure, supply chain disruptions, electronics shortages, and material and freight cost inflation, impacted Schindler's business in 2021. Order intake increased by 10.4% to CHF 12 166 million and revenue increased by 5.6% to CHF 11 236 million, operating profit reached CHF 1 166 million, corresponding to an EBIT margin of 10.4% (EBIT adjusted 11.1%). Net profit amounted to CHF 881 million, and cash flow from operating activities reached
CHF 1 314 million.

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

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