Solid start to the year

Schindler Holding AG / Key word(s): Quarter Results
Solid start to the year

18-Apr-2024 / 06:30 CET/CEST
Release of an ad hoc announcement pursuant to Art. 53 LR
The issuer is solely responsible for the content of this announcement.

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Ad hoc announcement pursuant to Art. 53 LR

Key figures as of March 31, 2024

  * Service and Modernization markets strong; most New Installation markets
    remain challenging

* Growth in order intake and revenue in local currencies

  * Sustained operational improvement and pricing discipline driving
    margins: EBIT margin to 10.9% and EBIT adjusted margin to 11.1%

* Cash flow from operating activities: up 80.4%

  * New standardized modular platform launch on track, already accounting
    for more than 40% of total units sold in the EMEA region

* 2024 guidance reiterated: EBIT margin of 11%

Despite challenging New Installation markets in the first quarter, both
order intake and revenue increased to CHF 2 791 million and CHF 2 673
million, respectively. In local currencies growth was 2.5% and 1.1%,
respectively. Operating profit increased to CHF 292 million corresponding to
an EBIT margin of 10.9%. The EBIT adjusted margin reached 11.1%, up from
9.7% in Q1 2023. Net profit rose to CHF 232 million, corresponding to a net
profit margin of 8.7%. Cash flow from operating activities increased by
80.4% to CHF 507 million.

About Schindler
Founded in Switzerland in 1874, the Schindler Group is a leading global
provider of elevators, escalators and related services. Schindler's mobility
solutions move more than 2 billion people every day all over the world.
Behind the company's success are over 70,000 employees in more than 100
countries. Schindler is committed to reaching net-zero emissions by 2040
through a 90% absolute reduction of its greenhouse gas emissions in scope 1,
2 and 3 from a 2020 baseline as its long-term science-based emission
reduction target, while working to neutralize its residual emissions.

More information
Katherine Lee | Head of External Communications
Phone +41 414 45 36 11 | Mobile +41 79 712 94 99
katherine.lee@schindler.com

Lars Brorson | Head of Investor Relations
Phone +41 414 45 40 36 | Mobile +41 79 543 38 74
lars.brorson@schindler.com

Schindler Management Ltd.
Zugerstrasse 13
6030 Ebikon
Switzerland

Tel. +41 41 445 32 32
corporate.communications@schindler.com
group.schindler.com


News Source: Schindler Holding AG


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End of Inside Information

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   Language:       English
   Company:        Schindler Holding AG
                   Zugerstrasse 13
                   6060 Ebikon
                   Switzerland
   Phone:          +41414453060
   E-mail:         corporate.communications@schindler.com
   Internet:       www.schindler.com
   ISIN:           CH0024638212, CH0024638196
   Valor:          002463821
   Listed:         SIX Swiss Exchange
   EQS News ID:    1883175

End of Announcement EQS News Service
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1883175 18-Apr-2024 CET/CEST