Strong Modernization Growth
Modernization orders were up over 16% in the quarter, continuing the strong momentum from the previous year. Notably, in China, modernization orders grew by over 50% in Q3 and are close to 40% year-to-date.
Operating Margin Improvement
The operating margin in Q3 was 13%, up 130 basis points from the previous year. The full-year margin guidance has been revised to around 12.5%, up from 12% previously, due to successful efficiency initiatives.
Successful U.S. Mid-Rise Product Launch
The rollout of the new U.S. mid-rise product has exceeded order intake expectations, leveraging a standardized modular platform to gain market share in the U.S. mid-rise market.
Innovation in Sustainability
Schindler is installing the industry's first low-carbon emission steel elevator, reducing carbon emissions by up to 75%, marking progress towards the 2040 net zero target.
Recognition as a Top Employer
Schindler has been recognized by Forbes as one of the world's best employers, ranking third globally in the engineering and manufacturing sector.