Sustained Margin Recovery
Reported EBIT margin reached 12.6% for FY25 (13.0% in Q4), marking the 12th consecutive quarter of year‑on‑year EBIT margin improvement and exceeding the initial annual expectation (~12%).
Strong Operating Cash Flow and Balance Sheet
Operating cash flow was CHF 1.5 billion for the year (CHF 523 million in Q4) with net liquidity of CHF 3.9 billion, enabling shareholder returns and reinvestment.
Shareholder Returns
Board proposed an ordinary dividend of CHF 6.00 and an extraordinary dividend of CHF 0.80 (total CHF 6.80); payout ratio ~72%. Share buybacks executed: ~700,000 shares for CHF 200 million in 2025.
Modernization Momentum
Modernization orders increased 19% for FY25 (15% in Q4) and Modernization revenue rose 12% for the year (22% in Q4). Backlog and execution capacity were expanded and rollout of standardized MOD packages delivered strong traction.
Product & Operational Improvements
Rollout of standardized modular NI platform completed as planned; U.S. mid‑rise product outperformed expectations in 2025. U.S. ERP implementation completed, enabling further operational efficiencies.
Service Portfolio Growth and Connectivity
Maintenance portfolio value grew mid‑single digits in 2025 with units expanding (strongest growth in APAC ex‑China). Over 40% of equipment is cloud‑connected, with a significant (though country‑variable) portion contributing paid services.
Sustainability Recognition
Schindler received EcoVadis Platinum (top 1% of >150,000 companies) and inclusion on the CDP A list, demonstrating strong ESG credentials.
2026 Guidance and Strategic Focus
Company guides to low‑ to mid‑single‑digit revenue growth in local currency for 2026 and a reported EBIT margin target of 13%, with a clear focus on accelerating profitable growth (Modernization expected to grow double‑digit in 2026).