Schindler Hldg Ag Akt (SHLRF) Q2 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good morning, ladies and gentlemen, and welcome to our first half 2025 results conference call. My name is Lars Borson. I'm head of investor relations at Schindler. I'm here together with Paolo Campagna, our CEO, and Carla De Geisler, our CFO. Paolo will discuss the highlights of our first half results and our 2025 market outlook, and Carla will then take us through the financials. After the presentation, we're happy to take your questions. We plan to close the call rather at 11 o'clock. And with that, I hand over to Paolo. Paolo, please go ahead. Good morning, everyone. I'm pleased to be back to report on our performance in the first half of this year. And let me start by giving you some highlights on slide number three. First, we have seen organic growth starting to return to the business, which is encouraging after a period of low growth in the prior years. We delivered over 5% order growth in local currencies, and we continue to see very good momentum in our modernization business, which grew 22% in the first half of this year. Services grew mid single digit in line with historical trends and as a service company on a level we would expect to grow at. Second, revenue growth was more muted But our backlog is growing at a healthy pace, up 4% in local currencies. And that bodes well for continued revenue growth in the second half of this year, setting us up to deliver on our full year 2025 revenue guidance of a low single digit growth in local currencies. Third, we delivered a strong operating margin at 12.3% for the first half of this year. Carla will be happy providing you with more details on the drivers behind this, but I'm pleased to see that our SG&A efficiency initiatives from last year are delivering the expected savings in 2025 and that our procurement and ...