Home News Schindler Reports Strong Q2 Revenue Growth

Schindler Reports Strong Q2 Revenue Growth

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Schindler, the renowned Swiss manufacturer of elevators and escalators, has announced a significant increase in revenue for the second quarter of this year. The company’s revenue reached 2.93 billion Swiss francs ($3.38 billion), up from CHF2.71 billion in the same period last year. This growth was observed across all regions and product lines, and was primarily driven by the successful execution of Schindler’s order backlog.

The company’s earnings before interest and taxes also saw a notable improvement, totaling CHF320 million compared to CHF192 million in the previous year. Furthermore, Schindler reported a net profit of CHF251 million, a significant increase from CHF152 million in the same quarter of 2020.

Looking ahead, Schindler has set its sights on continued growth. For the year 2023, the company anticipates a revenue growth rate ranging between 5% and 8% in local currencies. Additionally, Schindler aims to achieve a net profit ranging between CHF860 million and CHF900 million.

Despite these positive developments, Schindler acknowledges the challenging business landscape it faces. Market uncertainty, rising labor costs, scarcity of resources, and foreign exchange pressures all contribute to a complex operating environment. However, Schindler remains confident in its ability to navigate these obstacles and sustain its strong performance moving forward.

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