Schindler (SCHN) Q2 2026 earnings summary

Executive summary

• Achieved record EBIT margin of 13.2% in H1 2026, up 90 basis points year-over-year, with net profit of CHF 542 million (10.2% margin), driven by strong modernization and service growth, and robust operational execution.

• Order intake reached CHF 5,794 million, up 2.9% in local currencies despite a 1.6% reported decline due to FX headwinds; revenue was CHF 5,329 million, up 1.4% in local currencies but down 2.9% reported.

• Modernization and service segments showed strong, consistent growth, offsetting headwinds in China’s new installations; new installations grew outside China, especially in EMEA and APAC.

• Recognized for innovation with Red Dot and iF Design Awards for Schindler X8 and named one of Europe's Most Innovative Companies.

Financial highlights

• EBIT margin reached a record 13.2% in H1 2026 (up from 12.3%); adjusted EBIT margin at 13.5%.

• Net profit margin was 10.2% in H1 2026, with net profit of CHF 542 million and EPS of CHF 4.83.

• Operating cash flow for H1 2026 was CHF 617 million, down 12.2% year-over-year due to higher working capital requirements.

• Order backlog as of June 30, 2026, was CHF 8,407 million, up 7.7% from December 2025 and 4.9% year-over-year.

• Investments in property, plant, and equipment totaled CHF 74 million in H1 2026, up 76.2% year-over-year.

Outlook and guidance

• Full-year 2026 guidance confirmed: low- to mid-single-digit revenue growth in local currencies and EBIT margin around 13%.

• Acceleration expected in H2, driven by strong modernization and service growth, with easing headwinds in new installations.

• Additional cost inflation of CHF 35 million expected in 2026, mainly in H2, due to energy and commodity prices; tariff impact estimated at CHF 15 million.

• Headwinds remain from China market pressures, restructuring costs, supply chain volatility, and market uncertainty.