Schindler operates more profitably
Schindler achieved a revenue of 5.59 billion Swiss francs in the first half of 2024, representing a decline of 2.3 percent. Despite negative currency effects, the operating profit improved.
Schindler generated global sales totaling 5.59 billion Swiss francs in the first half of the 2024 financial year, the elevator manufacturer from the canton of Lucerne reported in a press release. This corresponds to a year-on-year decline of 2.3 percent. This is due to negative foreign currency effects: In local currencies, sales were 1.4 percent higher than in the previous year.
At CHF 618 million, the operating result at EBIT level was 2.7% higher than in the previous year. The corresponding margin rose from 10.5 to 11.0 percent. “We have been able to continuously improve our margins for six consecutive quarters and have kept our promise to become more profitable,” said Silvio Napoli, Chairman of the Board of Directors and CEO of Schindler, in the press release. “Strengthening our competitiveness is and remains crucial in this market environment.”
Schindler reported a net profit of 494 million Swiss francs in the half-year under review, with a profit margin of 8.8 percent. In the first half of 2023, net profit of CHF 463 million was realized.
For the current year, Schindler expects revenue growth in the low single-digit range in local currencies. The EBIT margin is to be maintained at 11 percent. Schindler is planning restructuring costs of CHF 80 million for further improvements in organizational efficiency.