Rueil-Malmaison (France) – Schneider Electric reported first quarter revenues of €5,996 million, up +7.8% in total and about flat organically excluding Invensys.
The breakdown of revenues by business segment was as follows:
Jean-Pascal Tricoire, Chairman and CEO, commented: “On a reported basis, we achieved a revenue growth in Q1 of 7.8%. The organic growth is about flat excluding Invensys, which is impacted by an exceptionally high base of comparison due to the change in 2014 fiscal year closing.
“Q1 performance is broadly in line with our expectations; we therefore confirm our 2015 targets. Moving forward, we will remain focused on executing our new company program ‘Schneider is On’ to deliver growth, efficiency and cash generation.”
Key Points:
- Buildings & Partner posted positive growth, Industry was about flat excluding Invensys.
- Infrastructure stabilized, IT impacted by Russia and one-off in India.
- Western Europe stabilizing and weakness in China as expected.
- North America saw lower capex but construction market remained favorable.
- Invensys performance impacted by change in date of fiscal year closing. Synergies execution on track.
- Full year targets confirmed.
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