In an overall highly competitive market environment, Schindler succeeded in maintaining growth momentum during the first half of 2019. Order intake and revenue continued to increase despite the previous year’s high comparable basis and foreign exchange headwinds.
Order intake rose by 3.8% to CHF 6 090 million (+5.8% in local currencies) and revenue grew by 3.3% to CHF 5 431 million (+5.4% in local currencies). Operating profit reached CHF 596 million (first half of 2018: CHF 613 million) and was impacted by wage inflation, higher material costs, foreign exchange, as well as the planned acceleration in strategic projects expenditure. The EBIT margin was 11.0% (first half of 2018: 11.7%). Net profit totaled CHF 436 million (first half of 2018: CHF 516 million, before tax refund CHF 461 million).
Strategic projects such as the modularization of the product portfolio, the development of digital customer solutions enabled by ‘Schindler Ahead,’ as well as the digitization of business processes are progressing as planned. At the same time, BuildingMinds set up its core team and is actively developing first client solutions.