News Column

Brief Statement: Schindler Interim Report as of June 30, 2014

August 13, 2014

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Brief statement

August 13, 2014



Continuing on a growth path



In the first half of 2014, Schindler pursued its growth strategy and achieved an increase of around 7.5% in both orders received and revenue in local currencies. As a result of negative foreign exchange impacts, orders received and revenue each grew by 2.1% in Swiss francs. Operating profit totaled CHF 524 million, corresponding to an EBIT margin of 12.1% (first half of 2013: 11.1%). This includes an extraordinary gain of CHF 82 million generated in connection with the Mall of Switzerland development project. Net profit amounted to CHF 371 million, thus significantly exceeding the result for the first half of 2013. Adjusted for exceptional items, net profit was 6.9% lower than in the first half of 2013.


"We achieved further profitable growth and significantly strengthened our position in the Asia/Pacific region," stated CEO Silvio Napoli. "Thanks to the accelerated expansion of our business in growth markets, our investments in production facilities, and the launch of new products, we were able to pursue our growth path - especially in China and India - during the first half of this year."


Schindler reached an agreement with the majority shareholders of XJ-Schindler (Xuchang) Elevator Co. Ltd., allowing Schindler to increase its participation in the company from 46% to 51% in August 2014. The transaction remains subject to approval by the relevant Chinese authorities.


Outlook for 2014

Excluding any unforeseeable events, Schindler expects that revenue will grow by 6% to 8% in local currencies and that net profit will total CHF 800 million to CHF 850 million for the full year 2014. Excluding exceptional items1, this corresponds to an adjusted net profit of CHF 635 million to CHF 685 million.


1 Revaluation XJ-Schindler: CHF 130 million, Mall of Switzerland: CHF 75 million, Hyundai impairment: CHF -40 million





Selected key figures: January to June


In CHF million



2014



2013



? %



? %

in local currencies



Orders received



4 962



4 860



+2.1



+7.4



Revenue



4 339



4 250



+2.1



+7.6



Operating profit (EBIT)



524



470



+11.5



+18.1



Net profit



371



206



















30.06.2014



31.12.2013







Order backlog



8 627



7 722



+11.7



+11.4



Headcount at end of period



49 751



48 169



+3.3







The full Interim Report as of June 30, 2014 will be distributed at 06.30 and published on www.schindler.com.


For further information please contact:



Nelly Keune, Senior Communications Manager

Tel. +41 41 445 30 88, Fax +41 41 445 31 44

nelly.keune@ch.schindler.com



Barbara ZÄch, Head Investor Relations

Tel. +41 41 445 30 61, Fax +41 41 445 31 44,

barbara.zaech@ch.schindler.com












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Channel

Contact
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www.tensid.ch





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Source: Tensid Regulatory


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