Improving operating performance and increasing profitability

Ad hoc announcement pursuant to Art. 53 LR

Annual Results 2023

• Order intake and revenue: growth amidst challenging market conditions
• Improved operating performance and profitability: operating profit adjusted up 19.9%, EBIT adjusted margin 10.9%
• Increasing net profit and earnings per share: up 42%
• Cash flow from operating activities: up 84.7%
• Strong foreign exchange headwinds
• Outlook: EBIT reported margin 11% in 2024, 13% midterm
• Celebrating 150th anniversary: extraordinary dividend of CHF 1.00 per share to be proposed to the Shareholders’ meeting, total dividend of CHF 5.00 per share
• Dividend payout ratio range increased to 50% – 80%

For the full year 2023, amidst challenging markets, both order intake and revenue increased to CHF 11 439 million and CHF 11 494 million, respectively. In local currencies the growth was 1.7% and 7.4%. Operating profit increased to CHF 1 188 million corresponding to an EBIT margin of 10.3%. The EBIT adjusted margin reached 10.9%, up from 9.2% in 2022. Net profit rose significantly to CHF 935 million, corresponding to a net profit margin of 8.1%. Cash flow from operating activities increased by 84.7% to CHF 1 271 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

Marco Knuchel | Head Investor Relations
Phone +41 41 445 30 61
marco.knuchel@schindler.com