Schindler Q2 sales miss expectations as weak China market drags

The Lucerne-based company, which makes elevators, escalators and moving walkways, is facing pressure as the world's second-largest economy grapples with a prolonged slump in the property market.

Schindler shares were down around 5% at 0708 ⁠GMT. Orders in ‌local currencies grew globally for a third consecutive quarter, driven by strong demand for ⁠modernising existing elevators across markets, but new installation orders in China fell by more than 10%, a company presentation showed.

"The momentum of our new modular product platform is driving growth in new installations outside China, particularly in Europe," Chief Executive Paolo Compagna said.


China's property sector continues to struggle, with ‌new construction starts falling more than 23% year-on-year in the first half of 2026, according to data published by the ⁠National Bureau of Statistics earlier this month.

Quarterly revenue fell 0.7% from a year earlier to 2.74 billion Swiss francs, below analysts' average forecast of 2.78 billion francs compiled by Vara.

Adjusted earnings before interest and taxes came in at 379 million francs, slightly below a consensus estimate of 383.2 million francs.