Schindler 2022 Earnings Update
Intensifying challenges
Wage inflation, China lockdown 2nd wave, and semiconductor
shortage accelerate the impact
1. Dealing with foreign exchange burden
EUR/CHF -4.9% year-to-date, -6.2% year-on-year
2. Regaining competitive New Installations (NI) margins
▷ FY 2022 material cost inflation: CHF 200m confirmed
▷ FY 2022 wage inflation: CHF 120m materializing
3. Resolving supply chain disruptions
Ukraine war and Russia sanctions impacting logistics and material flows
▷ Semiconductor shortage worsening
4. Streamlining product portfolio complexity
▷ Platform legacy issues combined with supply chain disruptions delay backlog execution
▷ On-time delivery severely affected
5. Adjusting for China NI market contraction
▷ Unexpected 2nd wave of lockdowns.
▷ Extended credit crunch in property market combined with COVID uncertainty worsen E&E market outlook
In red: update since April 22, 2022
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I Schindler 2022 | We Elevate |
July 22, 2022 | Investor Relations
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