Schindler Holding AG (SHLAF) Q1 2025 Earnings Call Transcript

2025-04-30 15:35:19 ET

Schindler Holding AG (SHLAF)

Q1 2025 Results Conference Call

April 30, 2025 04:00 AM ET

Company Participants

Lars Brorson - Head, Investor Relations

Paolo Compagna - Chief Executive Officer

Carla De Geyseleer - Chief Financial Officer

Conference Call Participants

James Moore - Redburn Atlantic

Martin Husler - ZKB

Daniela Costa - Goldman Sachs

Benjamin Heelan - Bank of America

Miguel Borrega - BNP Paribas

John Kim - Deutsche Bank

Vlad Sergievskii - Barclays

Presentation

Lars Brorson

Good morning, everybody, and welcome to our first quarter 2025 results conference call. My name is Lars Brorson. I'm Head of Investor Relations at Schindler. I'm here together with Paolo Compagna, our CEO; and Carla De Geyseleer, our CFO. Paolo will discuss our highlights of the Q1 results and our 2025 market outlook, and Carla will then take us through the financials. After the presentation, we're happy to take your questions. We plan to close the call at 11:00.

And with that, I hand over to Paolo. Paolo, please go ahead.

Paolo Compagna

Good morning, everyone. I am pleased to be back to report on our performance in Q1, which I think is another quarter we can be proud of.

Let me start by giving you some highlights on Slide #3 as well as touch on some of the external challenges we are facing currently. First, our top line development this quarter was encouraging. Our order growth accelerated to 6%, which is a growth level we haven't seen for almost 2 years, actually since Q2 '23. Carla will give you more detail shortly, but I'm pleased that as a service company, we continue to deliver solid growth in our Service and Modernization business. In particularly, Mod had a strong quarter with close to 20% growth. But it is also worth noting that our new installations orders grew this quarter in value terms by 1% despite the headwinds in China.

I'm particularly pleased that we grew our NI order intake by high single digit in EMEA in the quarter as we now start to see evidence of the impact the rollout of the new modular platform is having. Revenue growth returned to positive this quarter with growth across all our regions with the exception of China....

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