RUEIL-MALMAISON, France — Schneider Electric today reported its 2024 half-year results.
Peter Herweck, CEO stated:
I am pleased to see our strong and focused continued execution in H1 2024 resulting in record revenues and strong organic improvement in adjusted EBITA margin, accelerating in Q2. We are uniquely positioned and continue to invest into materializing on the megatrends of Digitization & AI and Energy Transition. Remaining committed to shareholder value creation, we delivered a 10% increase in adjusted Net Income and a growth in Operating Cash Flow of 15%. Alongside the strong financial results, I am particularly proud of the recognition we received in June as the world’s most sustainable company.
Financial Highlights:
- Recognized as the world’s most sustainable company, by TIME magazine
- Q2 Group revenues of €9.6bn, up +7% organic; a record for any quarter
– Energy Management up +10% organic
– Industrial Automation down -4% organic, due to softness in Discrete markets
– North America and Rest of the World leading growth, up double-digit org.
– Services up double-digit org., AVEVA ARR up +16% - H1 Group revenues of €18.2 billion, up +6% organic
- H1 Adj. EBITA €3.4 billion, up +12% organic
– Adj. EBITA Margin 18.6%, up +100bps organic - Adjusted Net Income €2.2 billion, up +10%
- Operating Cash Flow €3.1 billion, up +15%
- Schneider Sustainability Impact program on-track
- 2024 Financial Target Upgraded
The full financial report can be found here.
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