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 41 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 orientation
Over the long term, Schindler is committed to deliver on safety, quality, and customer experience. By focusing on these priorities, the company aims to grow more rapidly than the global elevator and escalator market, while at the same time increasing profitability both in absolute and relative terms over the long term. Schindler strives to achieve these goals through constantly improved operational processes and the modularity of products.
Tradition of innovation
Over the years, Schindler has built a tradition of pioneering innovative, customer-driven products, including destination control systems and the first-ever patent for elevators without a machine room. Other landmark examples include development of exclusive elevator suspension traction media and ‘InTruss’ modernization, which enables existing escalators to be upgraded with significantly diminished building impact. With the dawn of artificial intelligence, the company is at the forefront 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.
To realize the full potential of digitization across the entire value chain, Schindler launched in 2018 a multiyear strategic investment program aimed at implementing the ‘Digital Twin’ functionality across the full scope of the business.
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 1981 to 2018 (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 With the implementation of IFRS 15 – Revenue from Contracts with Customers as of January 1, 2018, the order backlog is reported net of already recognized revenue for contracts with customers. Previous-year figures have been restated accordingly. 2 Restructuring costs 2018: CHF 26 million, 2017: CHF 35 million, 2016: CHF 27 million, 2015: CHF 29 million, 2014: CHF 40 million 3 One-time tax refund CHF 60 million (income taxes CHF 33 million, net interest income CHF 27 million)
4 Gain on sale of operations in Japan: CHF 50 million (CHF 31 million after taxes) 5 Revaluation gain ALSO participation: CHF 26 million 6 XJ-Schindler (Xuchang) Elevator Co. Ltd. revaluation gain: CHF 145 million, gain on sale of Mall of Switzerland development project: CHF 82 million (CHF 75 million after taxes), impairment of intangible assets: CHF 21 million (CHF 18 million after taxes) 7 Hyundai Elevator Co. Ltd. impairment: CHF 40 million 8 Restated following change in cost definition