October 23, 2020
Order intake –10.5%, revenue –6.6%, operating profit (EBIT) adjusted –11.2%, net profit –19.4% year-on-year for first nine months 2020– Cash flow from operating activities increased to CHF 955 millionFor the first nine months of 2020, Schindler reports a revenue drop of 6.6% to CHF 7 713 million, equivalent to a decrease of 0.7% in local currencies. Order intake in the first nine months of 2020 decreased by 10.5% to CHF 8 067 million (–4.7% in local currencies).During the third quarter of 2020, the challenging environment continued to negatively affect construction industries worldwide. Based on partial recovery in new installation and modernization activities in some countries, Schindler recorded revenue growth in local currencies. “We continue to navigate these challenging times with a clear focus on the things we can influence: To deliver for our customers. At the same time, we remain cautious and vigilant on how best to adjust to the current dynamic global situation as more and more countries are now facing a second wave of the pandemic,” says Thomas Oetterli, Schindler’s CEO. Order intake and order backlogThe markets in Asia-Pacific and the Americas continued to be the worst affected by the global downturn, whilst China’s economy showed a V-shaped recovery. So far, European markets have shown more resilience.In the first nine months of 2020, order intake dropped by 10.5% to CHF 8 067 million (previous year: CHF 9 009 million), corresponding to a decrease of 4.7% in local currencies. In the third quarter of 2020, order intake contracted by 7.1% to CHF 2 712 million (previous year: CHF 2 919 million), which is equivalent to a decrease of 0.7% in local currencies. As of September 30, 2020, order backlog was CHF 8 948 million (September 30, 2019: CHF 9 280 million). This corresponds to a decrease of 3.6% (+2.6% in local currencies)
