Urbanization – cities are key to the global economy
From Berlin to Beijing, cities vibrate with energy. They account for 60% of all jobs and produce 80% of global GDP. Urban areas are at the center of innovation covering hard goods, services, technology, and entertainment, delivering multiple benefits to people, business, and culture.
Currently, more than five hundred cities worldwide boast at least one million inhabitants and every passing second more than two people somewhere in the world relocate to a city from a rural area. The United Nations estimates that by 2030 almost 9% of the world’s population will live in just 43 megacities. Today, for the first time in human history, more people live in the city than in the countryside, and by mid-century two-thirds of the global population is projected to be urban.
Shaping the skyline
Elevators and escalators make tall buildings livable and large infrastructure projects accessible. Vertical transportation has allowed the steel-frame skyscraper to give new shape and substance to global cities and enables the rapid expansion of new dynamic urban areas.
Increasing urbanization will not only push the horizontal limits of existing cities but their vertical boundaries as well – refashioning both their skylines and public transportation networks with the enabling power of elevators and escalators. Countries such as China, India, Indonesia, and Brazil continue moving in a vertical direction. China alone builds more than 70 skyscrapers each year. This long-term trend increases elevator density and supports further demand for the most advanced elevator and escalator products and services.
This new way of living will only be possible with smart mobility solutions. Schindler has the expertise and product selection to make every type of facility found in cities – and elsewhere – easily and safely accessible.
Moving more than one and a half billion people a day
With more than 1.5 billion people moved each day, the company is committed to providing reliable customer service and high-quality mobility solutions that ensure safe and efficient trips for the riding public, as well as superior equipment for building owners and operators. Schindler’s offering ranges from solutions for low-rise buildings to sophisticated access and transport management concepts for multifunctional buildings.
Long-term strategic focus
Schindler’s long-term strategy is focused on generating sustained value for all the company’s stakeholders. The aim is to grow faster than the global elevator and escalator market and to build on a strong culture of innovation to continuously improve operating results. To support the realization of these objectives, Schindler is implementing operational measures to increase customer satisfaction and operational efficiency, as well as strategic initiatives to promote innovation and enhance quality. The main focus is on the modularization of the product portfolio and the digitalization of the business.
Schindler Ahead – the Internet of Elevators and Escalators (video).
Innovation and technology
Schindler has been a pioneer in vertical transportation since the company’s founding in 1874. Drawing on this strong culture and legacy of innovation, Schindler continues to drive forward new systems and technologies aimed at anticipating the world’s needs for future mobility and improving the quality of life in cities.
Over the years, Schindler has successfully launched numerous innovations in the market, including destination control systems and the first-ever patent for elevators without a machine room. With the advent of artificial intelligence, Schindler has also established itself as a leading company in the development of the Internet of Elevators and Escalators (IoEE).
‘Schindler Ahead’ provides a unique, cloud-based digital toolbox connecting machine, users, technicians, and around-the-clock call centers in a closed-loop ecosystem. By investing in Digital Twin technology, Schindler is laying the groundwork to capture the full potential of artificial intelligence across the entire value chain. The start-up BuildingMinds develops solutions to optimize the management of entire building portfolios.
As one of the industrial sector’s leading digital companies, Schindler will continue to invest in the smart networking of products and digital processes.
Market capitalization in CHF million 1981 to 2019 (as of December 31)
Schindler creates value
Schindler will continue to systematically pursue its strategy of growth and innovation to create value for the company’s diverse stakeholders and to provide fulfilling and exciting careers for employees.
Schindler Group key figures five-year overview
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1 Implementation of IFRS 16 – Leases as of January 1, 2019: Net liquidity is reported including lease liabilities 2 Before settlement of pension obligations (CHF –157 million) and IFRS 16 – Leases (CHF 118 million) CHF 1,224 million 3 One-time tax refund CHF 60 million
4 Implementation of IFRS 15 – Revenue from Contracts with Customers as of January 1, 2018: Order backlog is reported net of already recognized revenue for contracts with customers. Order backlog as of December 31, 2017 has been restated accordingly. 5 Gain on sale of operations in Japan: CHF 50 million (CHF 31 million after taxes) 6 Revaluation gain ALSO participation: CHF 26 million