Schindler: a good first quarter, but a cautious outlook

The company saw its revenue increase 6.3% year-over-year and its order intake grow 8% in the quarter. Schindler admits having benefited from favorable base effects, but the fact remains that with these results the company is returning to its pre-crisis performance. The group also launched a program (Top Speed ​​23) intended to accelerate its digital transformation and innovation, as well as to close profitability gaps. An important aspect of this program will also be the integration of sustainability into the business model. For 2021, the group wants to be cautious and believes that the impact of the pandemic on the construction and real estate sectors, combined with political and trade tensions, as well as the increase in commodity prices, will translate into persistent pressure on margins