Schneider Electric Upgrades 2023 Targets, Reports Higher 1st Half Earnings
27 Juillet 2023 - 7:59AM
Dow Jones News
By Pierre Bertrand
Schneider Electric upgraded its 2023 targets and reported higher
first-half earnings Thursday supported by strong demand and high
growth.
The French digital energy-management and automation company said
it is targeting organic adjusted earnings before interest, taxes
and amortization growth of between 18% and 23% for 2023, up from
between 16% and 21% previously, and 2023 organic revenue growth of
11% to 13%, up from 10% to 13% previously.
The company said its new targets imply an adjusted Ebita margin
of around 17.7% to 18.0%, up from around 17.6% to 17.9%
previously.
Schneider Electric said it made 2.02 billion euros ($2.24
billion) in net profit for the six months period, compared with
EUR1.52 billion a year prior, on revenue that grew 9.7% to EUR17.63
billion.
Schneider Electric's adjusted Ebita grew 14% to EUR3.17
billion.
"We continue to grow our backlog, reflective of strong demand
trends primarily linked to Electrification in the New Energy
Landscape and Artificial Intelligence driving increased traction
for Data Centers," Chief Executive Peter Herweck said.
Write to Pierre Bertrand at pierre.bertrand@wsj.com
(END) Dow Jones Newswires
July 27, 2023 01:44 ET (05:44 GMT)
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