Schindler Q2 sales miss expectations as weak China market drags

Swiss elevator maker Schindler reported Q2 revenue of 2.74 billion Swiss francs, down 0.7% year-on-year and below analyst expectations of 2.78 billion francs. Adjusted EBIT of 379 million francs also missed the 383.2 million franc consensus. New installation orders in China fell by more than 10% as the country's property sector continues to struggle, with new construction starts dropping over 23% year-on-year in the first half of 2026. Shares were down around 5% in early trade, though orders in local currencies grew globally for a third consecutive quarter led by modernisation demand.