Schindler Hldg Ag Akt (SHLRF) Q4 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good morning, ladies and gentlemen, and welcome to our full year 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 Begeisler, our CFO. As usual, Paolo will discuss the highlights of our 2025 results and our 2026 market outlook, and Carla will take us through the financials. After the presentation, we're happy to take your questions. We plan to close the call at 10.30 local time. 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 25 results. But today, before I dive into the results, let me take this opportunity to take a step back and reflect on the journey over the last few years. You are seeing we have titled our first slide, Operational Recovery Completed, as we see 2025 as marking the final year of our operational recovery. For those of you who have followed us for a while, you will recall that in 22, we faced severe supply chain challenges, steep declines in many of our major new installation markets, and a significant drop in earnings and cash flow. the company had to perform an emergency landing. Four years on, after some very difficult decisions taken by our majority shareholder and the board at the end of 21, and thanks to the hard work and dedication of nearly 70,000 employees, I'm pleased to say that we have emerged from this period as a stronger and more resilient company. Well, one could say Schindler is back. We have made clear structural improvements to our supply chain. We have enhanced our product competitiveness and innovation and strengthened our global footprint and maintenance portfolio, including exiting smaller markets where returns were not aligned with our objectiv...