According to The Economic Times, Schindler reported quarterly revenue of ₹2.74 billion Swiss francs, representing a 0.7% decline from the previous year. This performance fell short of analysts' average forecast of ₹2.78 billion Swiss francs, as compiled by Vara. The company's adjusted earnings before interest and taxes came in at ₹379 million francs, slightly below the consensus estimate of ₹383.2 million francs.
As reported by The Economic Times, Schindler experienced significant challenges in the Chinese market during the quarter. New installation orders in China declined by more than 10%, highlighting the impact of the country's prolonged property market slump. However, the company noted that demand for modernisation of existing elevators remained strong across markets, contributing to global order growth for a third consecutive quarter.
According to The Economic Times, Schindler demonstrated resilience in other international markets despite China's weakness. Orders in local currencies grew globally for a third consecutive quarter, driven by strong demand for modernising existing elevators across markets. The company's new modular product platform is driving growth in new installations outside China, particularly in Europe, as highlighted by Chief Executive Paolo Compagna.
As reported by The Economic Times, investor concerns about the weak demand in China's property market led to a 5% decline in Schindler shares following the results announcement. The market reaction reflects investor uncertainty about the company's exposure to China's struggling property sector, which continues to face challenges with new construction starts falling more than 23% year-on-year in the first half of 2026, according to data from the National Bureau of Statistics.
