Business review

In weakening construction markets and faced by persistent foreign ex­change pressure, Schindler continued its trajectory of enhanced profitability and sustainable growth in 2023.

Volatile inflation, monetary tightening, reduced export activities, and a wait-and-see stance shaped the worldwide construction and real estate markets in 2023, particularly impacting new installations business. The year was also characterized by strong foreign currency headwinds, while – on a positive note – global supply chains have largely normalized.

In 2023, Schindler continued its trajectory of improving performance and sustainable growth. The Group’s refocused strategic framework built around dedicat­ed customer service, strong front­line capabilities, and boosting efficiency has started to yield results leading to increasing profitability in a once again challenging market environment.