TK Elevator publishes Sustainability Report 2023/2024: Driving Growth and Responsibility

• Advancing key transformation priorities across climate action, innovation, safety, and responsible business practices.
• Eco-efficient EOX elevator platform scaling rapidly and driving transformation across entire value chain.
  
• Sustainability achievements recognized by leading ESG ratings.

Düsseldorf (Germany), July 29, 2025 –TK Elevator (TKE), a global leader in vertical transportation and urban mobility, has published its Sustainability Report 2023/24, the fourth edition of the company’s annual publication. The report underscores the company’s commitment to driving sustainable urbanization, enhancing accessibility, and fostering a culture of safety and inclusion. It provides a comprehensive and transparent overview of TKE’s sustainability efforts, which are a core element of the company’s multidimensional transformation journey.

"Our transformation is about building a stronger, more resilient TKE that’s prepared for long-term, sustainable success,” said Uday Yadav, CEO of TK Elevator. “Sustainability is not a stand-alone initiative – it runs through everything we do. From innovating with our eco-efficient EOX elevator platform and advancing our safety transformation, to strengthening supplier relationships and accelerating digitalization, we are focused on delivering value for our customers, employees, and communities globally. Every step we take is driven by our purpose: improving the quality of urban life around the world through our passion for moving people.”

In 2023/24, TKE delivered another record year of financial performance while laying groundwork for the future and reaching key milestones on its sustainability agenda. A standout achievement was the continued success of the digitally native EOX elevator platform for low- and mid-rise buildings, which accounted for 75% of elevator orders in Europe and 40% in the Americas during the final quarter of the year. This shift not only contributed to a 3% reduction in Scope 3 emissions compared to the previous year but also marked a major step in transforming TKE’s entire value chain. From supply chain and manufacturing to installation, modernization, and service, EOX drives greater efficiency and sustainability across all business operations.

TKE achieved an additional 28% reduction in greenhouse gas emissions from its own operations (Scope 1 and 2) compared to the 2019 baseline. This progress was supported by a significant increase in the use of renewable electricity, which accounted for 76% of the company’s total electricity consumption in 2023/24, up from 68% in the previous year. In TKE’s factories, the share of renewable electricity was even higher, reaching 94%.

In service and modernization - the heart of its business - TKE further expanded its multi-brand and digital capabilities, invested in its International Technical Services (ITS) network and spare parts supply chains, and implemented regionally tailored modernization solutions. These efforts led to more than 10% growth in modernization and service sales, directly supporting improved safety and reliability for the millions of people who depend on TKE’s solutions every day.

Safety transformation remains a top priority at TKE. In 2023/24, the company delivered over 50,000 safety training modules. More than 16,000 technicians completed the Safety Transformation curriculum, reflecting a strengthened safety mindset across the organization.

In addition, TKE continued to enhance the resilience and transparency of its supply chain, making considerable progress toward its responsible sourcing goals. During the reporting year, 71% of TKE’s high-impact suppliers completed a comprehensive supplier assessment—an essential element of the company’s supplier risk management strategy—keeping TKE firmly on track to reach its 100% target by 2026.

TKE’s sustainability performance continues to receive high recognition from leading global rating agencies. In 2024, the company was featured on the CDP A-List for the fifth consecutive year, underscoring its leadership in climate action. TKE was also included in the Sustainalytics 2025 TopRated ESG Companies List and awarded the EcoVadis Gold Medal, placing the company among the top 2% of all companies assessed.


THE SUSTAINABILITY REPORT 2023/2024
is available in the Financial Publications section of our IR website.

INVESTOR RELATIONS CONTACT

Christian Schulte
Head of Investor Relations
Tel: +49 211 5400 413 417
Email: christian.h.schulte@tkelevator.com

Nicole Getta
VP Investor Relations
Tel: +49 211 5400 413 193
Email: nicole.getta@tkelevator.com

ABOUT TK ELEVATOR
TK Elevator (TKE) is a global leader in vertical transportation and urban mobility. We provide engineering that keeps the world moving, from design to installation and maintenance on any brand of elevators, escalators, walkways, lifts, passenger boarding bridges, stairlifts, platform lifts and home elevators – any place and any time. With our digital solutions like AGILE and the IoT platform, MAX, there are no longer any limits to urban mobility. TK Elevator became independent following its separation from the thyssenkrupp group in 2020. The company achieved sales of €9.3 billion in fiscal year 2023/2024. With around 50,000 employees, 25,000 service technicians and over 1,000 support centers globally, we are moved by what moves people. TKE – Move Beyond.