Order, Revenue Growth in 2023 Buoy Schindler’s 2024 Outlook

A continuing “trajectory of enhanced profitability and sustainable growth” in 2023 despite challenging market conditions, as well as a revamped business strategy focused on customer service, have Swiss OEM Schindler expecting low single-digit revenue growth in 2024, Schindler Chairman and CEO Silvio Napoli said in a February 14 press release. With the strategy, “strong, front-line capability and efficiency-enhancing measures, we’ve resolved to extend this track record and keep improving our competitiveness,” Napoli stated. Fueled by solid growth in the Europe, Middle East and Africa and Asia-Pacific regions, Schindler realized 2023 revenue growth of 1.3%. Revenue in China decreased slightly. In terms of order intake, all regions experienced low single-digit growth. New installations declined, but less than the overall market. Service continued to enjoy strong growth, and modernization began to revive in the 4th quarter of 2023.