(Reuters) -Swiss lift and escalator maker Schindler on Wednesday forecast low single-digit revenue growth in local currency terms for 2025, as the environment for new construction activity keeps getting worse while modernization and services grow.
It also said it expected an earnings before interest and tax (EBIT) margin of around 12% for the year.
Schindler’s margins began to show a recovery in 2024, driven by improved pricing and restructuring measures, including a digitisation programme.
Its adjusted EBIT margin came in at 12.5% in the fourth quarter of 2024, up from 11.4% a year earlier.
Quarterly sales were 2.86 billion Swiss francs ($3.13 billion), below analysts’ average forecast of 2.95 billion francs in a poll compiled by Vara Research.
($1 = 0.9131 Swiss francs)
(Reporting by Bartosz Dabrowski and Bernadette Hogg in Gdansk; Editing by Milla Nissi)
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