Schindler Holding Ltd. · SIX:SCHN
Schindler — Schindler Hldg Ag Akt — Q3 2021 Earnings Presentation
22 slides from Schindler's earnings presentation, Oct 21, 2021
Slide 1: Key figures as of September 30, 2021
Key figures as of September 30, 2021 October 21, 2021 © Schindler 2021 I © Schindler 2021 I We Elevate I October 21, 2021 I
Slide 2: Fast-changing environment
Fast-changing environment ▪ Markets recovering at various speed ▪ COVID-19 related restrictions affected recovery in Asia-Pacific and Latin America ▪ Tougher prior-year comparison in the third quarter ▪ Revenue development and operating results impacted by global supply chain issues and material and
Slide 3: Order intake development
Order intake development Back at 2019 level Q3 2021 9M 2021 in CHF million in CHF million 9 009 9 038 8 067 +12.3 1) 2 919 2 712 2 995 +12.0% +7.3 2) +8.8 1) +0.3 3) +10.4% +8.4 2) +2.6 3) Q3 2019 Q3 2020 Q3 2021 9M 2019 9M 2020 9M 2021 1) Growth in local currencies, in % 2) Growth in local currenci
Slide 4: Order intake growth by region and product line
Order intake growth by region and product line Growth across all regions and product lines Growth 9M 2021 vs. China Asia-Pacific Americas EMEA Group 9M 2020 w/o China Units New installations Maintenance Value New installations Modernization / Maintenance 0 to <5% 5% to <10% 10% to <20% >20% negative
Slide 5: Revenue development
Revenue development Slowing new installations business growth in Q3 Q3 2021 9M 2021 in CHF million in CHF million 8 255 7 713 8 282 +7.6 1) 2 754 +7.4% +7.1 2) 2 824 2 807 +0.4 1) +0.3 3) +1.9% +4.7 2) –0.6 3) Q3 2019 Q3 2020 Q3 2021 9M 2019 9M 2020 9M 2021 1) Growth in local currencies, in % 2) Gro
Slide 6: Revenue development: supply chain disruptions and project delays
Revenue development Supply chain disruptions and project delays 9M 2021 9M 2021 Revenue bridge Revenue by region in CHF million EMEA (–) USD Americas (–) BRL China 2021 2020 (+) RMB Rest AP (+) EUR Asia-Pacific 30% 27% (+/–) Others Americas 26% 28% EMEA 44% 45% <5% 5% to <10% 10% to <20% >20% negati
Slide 7: Operating profit development
Operating profit development Increased material and freight cost weigh on performance Q3 2021 9M 2021 EBIT adjusted EBIT adjusted in CHF million in CHF million 950 946 844 +11.8 1) +12.1% +6.5 2) 337 334 308 –0.4 3) –10.4 1) –3.3 2) –8.6% –7.8 3) Q3 2019 Q3 2020 Q3 2021 9M 2019 9M 2020 9M 2021 Margi
Slide 8: Operating profit development: YTD supported by strong H1
Operating profit development YTD supported by strong H1, slowing down in Q3 9M 2021 9M 2021 EBIT adjusted bridge Operational result drivers in CHF million (+) Operating leverage (–) USD (+) Modularity and COP *) (–) BRL (+) Lower OPEX due to COVID/ (+) RMB (+) EUR operational measures (+/–) Others (
Slide 9: Net profit development
Net profit development YTD at pre-pandemic level Q3 2021 9M 2021 in CHF million in CHF million 680 689 548 +25.7% +1.3 1) 244 235 234 –0.4% –4.1 1) Q3 2019 Q3 2020 Q3 2021 9M 2019 9M 2020 9M 2021 1) Growth vs. 2019, in % 9 I © Schindler 2021 I We Elevate I October 21, 2021 I Investor Relations
Slide 10: Cash flow development
Cash flow development Above pre-pandemic level YTD driven by NWC improvement Q3 2021 9M 2021 in CHF million in CHF million 955 958 656 2) +0.3% 319 +46.0 1) 308 237 –25.7% –23.1 1) Q3 2019 Q3 2020 Q3 2021 9M 2019 9M 2020 9M 2021 Cash flow from operating activities 2) Before settlement of pension obl
Slide 11: Outlook
Outlook 11
Slide 12: Outlook 2021
Outlook 2021 As of October 21, 2021 Business environment Schindler outlook for 2021 ▪ Markets recovering at varying speed ▪ Revenue growth between 4% to 7% ▪ Persisting fierce competition in local currencies, excluding any other unforeseeable events ▪ Commodity and freight cost inflation → Schindler
Slide 13: Financial calendar 2022
Financial calendar 2022 Annual results 2021 February 16 Ordinary General Meeting Schindler Holding Ltd March 22 Publication of key figures as of March 31 April Publication of Interim Report as of June 30 July Publication of key figures as of September 30 October Contact: Marco Knuchel, Head Investor
Slide 14: Additional charts
Additional charts 14
Slide 15: Key figures July to September 2021/2020
Key figures as of September 30, 2021 July to September 2021/2020 In CHF million Q3 2021 Q3 2020 r% r% in LC Order intake 2 995 2 712 10.4 8.8 Revenue 2 807 2 754 1.9 0.4 Operating profit (EBIT) 306 313 –2.2 –4.2 in % 10.9 11.4 Operating profit (EBIT), adjusted 308 1) 337 2) –8.6 –10.4 in % 11.0 12.2
Slide 16: Key figures July to September 2021/2019
Key figures as of September 30, 2021 July to September 2021/2019 In CHF million Q3 2021 Q3 2019 r% r% in LC Order intake 2 995 2 919 2.6 8.4 Revenue 2 807 2 824 –0.6 4.7 Operating profit (EBIT) 306 327 –6.4 –2.1 in % 10.9 11.6 Operating profit (EBIT), adjusted 308 1) 334 2) –7.8 –3.3 in % 11.0 11.8
Slide 17: Key figures January to September 2021/2020
Key figures as of September 30, 2021 January to September 2021/2020 In CHF million 9M 2021 9M 2020 r% r% in LC Order intake 9 038 8 067 12.0 12.3 Revenue 8 282 7 713 7.4 7.6 Operating profit (EBIT) 913 734 24.4 24.1 in % 11.0 9.5 Operating profit (EBIT), adjusted 946 1) 844 2) 12.1 11.8 in % 11.4 10
Slide 18: Key figures January to September 2021/2019
Key figures as of September 30, 2021 January to September 2021/2019 In CHF million 9M 2021 9M 2019 r% r% in LC Order intake 9 038 9 009 0.3 7.3 Revenue 8 282 8 255 0.3 7.1 Operating profit (EBIT) 913 923 –1.1 6.0 in % 11.0 11.2 Operating profit (EBIT), adjusted 946 1) 950 2) –0.4 6.5 in % 11.4 11.5
Slide 19: Quarterly overview Key figures
Quarterly overview Key figures In CHF million 2021 2020 Q3 Q2 Q1 Q4 Q3 Q2 Q1 Order intake 2 995 3 106 2 937 2 951 2 712 2 635 2 720 Revenue 2 807 2 873 2 602 2 927 2 754 2 512 2 447 Operating profit (EBIT) 306 319 288 298 313 255 166 in % 10.9 11.1 11.1 10.2 11.4 10.2 6.8 Operating profit (EBIT), ad
Slide 20: Balance sheet
Balance sheet In CHF million 30.9.2021 in % 31.12.2020 in % 30.9.2020 in % Cash and cash equivalents 2 674 22.9 2 483 22.8 2 208 20.7 Other current assets 5 226 44.8 4 892 45.0 4 929 46.1 Total current assets 7 900 67.7 7 375 67.8 7 137 66.8 Non-current assets 3 767 32.3 3 502 32.2 3 541 33.2 Total
Slide 21: China property data
China property data Affected by cumulative effects of tightening measures Floor space started 800 40% 700 30% 28.2% 600 20% ▪ Floor space started continued to decline in Q3 2021 500 400 3.8% 3.9% 4.7% 10% ▪ Floor space sold and real estate investment turned negative 0% 300 -6.1% -10% ▪ The average n
Slide 22: China property data: floor space started and housing inventory
China property data Affected by cumulative effects of tightening measures Floor space started (FSS) slowing; housing inventory is increasing in tier 3/4 cities FSS growth (6 months moving average) by city tiers Housing inventory by city tiers (2010 = 100) 300 120% 250 100% 200 80% 60% 150 40% 100 20
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