Schindler Holding Ltd. · SIX:SCHN
Schindler — Schindler Hldg Ag Akt — FY2024 Earnings Presentation
26 slides from Schindler's earnings presentation, Feb 12, 2025
Slide 1: Annual results 2024
Annual results 2024 February 12, 2025 © Schindler 2025 I © Schindler 2025 I We Elevate I February 12, 2025 I Investor Relations
Slide 2: Agenda
Agenda 1. Chairman’s reflections Silvio Napoli 2. Highlights 2024, market outlook, 2025 priorities Paolo Compagna 3. Financial results 2024, 2025 guidance Carla De Geyseleer 4. Q&A Paolo Compagna/ Carla De Geyseleer 2 I © Schindler 2025 I We Elevate I February 12, 2025 I Investor Relations
Slide 3: Agenda
Agenda 1. Chairman’s reflections Silvio Napoli 2. Highlights 2024, market outlook, 2025 priorities Paolo Compagna 3. Financial results 2024, 2025 guidance Carla De Geyseleer 4. Q&A Paolo Compagna/ Carla De Geyseleer 3 I © Schindler 2025 I We Elevate I February 12, 2025 I Investor Relations
Slide 4: FY24 – Delivering on our promises
FY24 – Delivering on our promises FY24 results in line with outlook, strong operating cash flow and net profit, dividend raised 2024 outlook Service-led Standardized achieved order growth modular Net profit +0.8% +HSD platform FY24 revenue in LC Service and MOD order growth (LC) >CHF 1.0 bn 11.3% Ro
Slide 5: Market development 2024
Market development 2024 Strong finish for MOD globally; Service market expanding, with China accounting for >70% of installed base growth APAC Units Americas EMEA China w/o China Global Service + + ++ ++ ++ Modernization (value) +++ ++ +++ ++ ++ New Installations + ––– + –– 0 to <5% + 0 to > –5% – 5
Slide 6: Schindler order intake 2024
Schindler order intake 2024 Service and Modernization drive order growth; NI decline less than overall market Indicative APAC Schindler Units Americas EMEA China w/o China Global revenue split New Installations Service + + ++ ++ + Modernization (value) +++ ++ +++ ++ ++ Modernization and New Installa
Slide 7: Market outlook 2025
Market outlook 2025 Slight growth in NI outside of China and sustained growth in Service and MOD across the regions APAC Units Americas EMEA China w/o China Global Service + + ++ ++ ++ Modernization (value) ++ ++ +++ ++ ++ New Installations + ––– + –– 0 to <5% + 0 to > –5% – 5% to 10% + + –5% to –10
Slide 8: Foundations laid for profitable growth
Foundations laid for profitable growth Strategic and operational continuity ▪ From ‘operational recovery’ to continuous improvement ▪ Customer focus and engagement ▪ Leverage innovation and AI to enable data-driven transformation ▪ Build on momentum in Americas and key European markets ▪ Capturing o
Slide 9: Operational priorities for 2025
Operational priorities for 2025 People Product Performance culture Modular platform and US mid-rise Effective organization Industrialized modernization solutions Frontline and talent development Cloud-based services ~12% Customer centricity EBIT 2030 Sustainability Roadmap Process discipline Decarbo
Slide 10: Agenda
Agenda 1. Chairman’s reflections Silvio Napoli 2. Highlights 2024, market outlook, 2025 priorities Paolo Compagna 3. Financial results 2024, 2025 guidance Carla De Geyseleer 4. Q&A Paolo Compagna/ Carla De Geyseleer 10 I © Schindler 2025 I We Elevate I February February 12, 2025 I Investor Relations
Slide 11: Sustained improvement in profitability & operating cash flow
Sustained improvement in profitability & operating cash flow Q4 24 vs. Q4 23 Order intake Revenue Operating cash flow YoY growth + 1.5% +2.5% -0.4% +5.5% +1.6% + 4.3% + 1.1% +1.7% +2.6% -2.2% in LC 662 547 507 2 977 2 960 2 920 2 788 2 855 2 844 2 791 2 711 2 846 2 673 257 Order intake Revenue 169 i
Slide 12: Order intake
Order intake Growth driven by Service and Modernization Q4 in CHF million FY 24 in CHF million 11 439 2 844 2 846 11 325 YoY growth in LC +1.6% +2.2% YoY growth in CHF +0.1% –1.0% 12 I © Schindler 2025 I We Elevate I February 12, 2025 I Investor Relations
Slide 13: Revenue
Revenue 2024 revenue outlook achieved Q4 in CHF million FY 24 in CHF million 2 960 11 494 2 855 11 236 YoY growth in LC -2.2% +0.8% YoY growth in CHF -3.5% –2.2% 13 I © Schindler 2025 I We Elevate I February 12, 2025 I Investor Relations
Slide 14: Operating profit
Operating profit Improvement mainly driven by efficiency gains, pricing and mix Q4 in CHF million FY 24 in CHF million 1) EBIT adj. EBIT adj. EBIT Operational Adjustments FX EBIT EBIT adj. EBIT adj. EBIT Operational Adjustments FX EBIT Q4 23 Q4 24 Q4 23 Q4 24 FY 23 FY 24 FY 23 FY 24 9.2% Growth in L
Slide 15: Net profit
Net profit Improving financial returns support net profit Q4 in CHF million FY 24 in CHF million 1’010 935 244 262 Q4 23 Q4 24 FY 23 FY 24 8.2% Margin 9.2% 8.1% Margin 9.0% 2.09 Earnings per share (CHF) 2.35 8.05 Earnings per share (CHF) 8.83 15 I © Schindler 2025 I We Elevate I February 12, 2025 I
Slide 16: Operating cash flow
Operating cash flow Substantial improvement in cash flow driven by operating profit and net working capital Q4 in CHF million FY 24 in CHF million 16 I © Schindler 2025 I We Elevate I February 12, 2025 I Investor Relations
Slide 17: Proposed dividend CHF 6.00
Proposed dividend CHF 6.00 In line with payout ratio range of 50 – 80% +1.00 6.00 4.00 4.00 4.00 2021 2022 2023 2024 Payout ratio (%) 52 70 62 68 Dividend yield (%)1 1.8 2.1 2.4 2.3 1) Dividend yield based on closing price of registered share on the day of the Board of Directors’ proposal (%) 17 I ©
Slide 18: Resilient performance across cycles
Resilient performance across cycles Asset light service model, yielding a high return on capital and generating high cash flows Balanced global footprint Robust growth in service Steady revenue growth Revenue split (CHF) Service portfolio Service revenue Revenue growth (CHF) in LC, CAGR growth in un
Slide 19: 2025 guidance
2025 guidance ~12% EBIT reported margin Low single-digit local currency revenue growth Tailwinds Headwinds ▪ Growing Service and Modernization markets ▪ Challenging NI market conditions ▪ Operational efficiency ▪ China pricing pressures ▪ Pricing and costing discipline ▪ Sustained wage inflation ▪ M
Slide 20: 13% EBIT reported mid-term target
13% EBIT reported mid-term target ~13% 11.3% Standardized modular platform Connectivity/digitalization Organizational efficiency/process optimization 2024 Field efficiency Supply chain efficiency, SG&A Mix Adjustments1 2027 incl. Procurement 1 Adjustments include transformation investments, restruct
Slide 21: Q&A
Q&A 21
Slide 22: Key Figures as of December 31, 2024 – September to December
Key Figures as of December 31, 2024 September to December In CHF million Q4 2024 Q4 2023 r% r% in LC Order intake 2 846 2 844 0.1 1.6 Revenue 2 855 2 960 –3.5 –2.2 Operating profit (EBIT) 321 296 8.4 12.2 in % 11.2 10.0 Operating profit (EBIT), adjusted 357 1) 338 2) 5.6 9.2 in % 12.5 11.4 Financing
Slide 23: Key Figures as of December 31, 2024 – January to December
Key Figures as of December 31, 2024 January to December In CHF million FY 2024 FY 2023 r% r% in LC Order intake 11 325 11 439 –1.0 2.2 Revenue 11 236 11 494 –2.2 0.8 Operating profit (EBIT) 1 266 1 188 6.6 9.9 in % 11.3 10.3 Operating profit (EBIT), adjusted 1 344 1) 1 255 2) 7.1 10.4 in % 12.0 10.9
Slide 24: Quarterly overview
Quarterly overview Key figures In CHF million 2024 2023 Q4 Q3 Q2 Q1 Q4 Q3 Q2 Q1 Order intake 2 846 2 711 2 977 2 791 2 844 2 657 3 049 2 889 Revenue 2 855 2 788 2 920 2 673 2 960 2 812 2 926 2 796 Operating profit (EBIT) 321 327 326 292 296 290 320 282 in % 11.2 11.7 11.2 10.9 10.0 10.3 10.9 10.1 Op
Slide 25: Balance sheet
Balance sheet In CHF million 31.12.2024 31.12.2023 in % in % Cash and cash equivalents 2 599 21.7 2 336 20.6 Other current assets 5 689 47.4 5 488 48.6 Total current assets 8 288 69.1 7 824 69.2 Non-current assets 3 709 30.9 3 484 30.8 Total assets 11 997 100.0 11 308 100.0 Current liabilities 5 824
Slide 26: Calendar 2025
Calendar 2025 2025 Full year results analyst and media conference February 12 Ordinary General Meeting Schindler Holding Ltd. March 25 Publication of key figures as of March 31 April 30 Publication of Interim Report as of June 30 July 18 Publication of key figures as of September 30 October . Contac