Core Viewpoint - Schindler anticipates low- to mid-single digit revenue growth in local currencies for 2026, driven by recovering new installations in key markets despite challenges in China and tariff impacts [1]. Group 1: Financial Performance - Fourth-quarter sales reached 2.79 billion Swiss francs ($3.64 billion), aligning with analyst forecasts [1]. - The company plans to propose a stable dividend of 6 francs per share and an extraordinary dividend of 0.80 francs per share [5]. Group 2: Market Conditions - The Americas and Asia Pacific markets showed strong performance, particularly in new installations, while China experienced a decline of over 10% in this segment for 2025 [2]. - The Chinese economy is facing a prolonged property crisis, with new construction starts dropping by 20.4% in 2025, following a 23% decline the previous year [2]. Group 3: Future Outlook - Schindler expects headwinds in 2026 from volatile commodity prices, restructuring costs, and market uncertainties, particularly in the Chinese new installations business [3]. - Positive factors for 2026 include potential bolt-on mergers and acquisitions, pricing discipline, operational improvements, and a recovery in the new installations business in key markets [4].