RUEIL-MALMAISON (dpa-AFX) - Schneider Electric S.A. (SBGSF.PK), on Thursday, reported H1 net income of EUR 2.02 billion, an increase of 33%, compared to EUR 1.52 billion last year.
On an adjusted basis, net income rose 13% to EUR 2.04 billion from EUR 1.80 billion last year. Adjusted earnings grew 12% to EUR 3.64 per share from EUR 3.24 per share in the prior year period.
Revenues amounted to EUR 17.6 billion, up 9.7% on reported basis and up 15.3% on organic basis, from the previous year's revenue of EUR 16.1 billion.
Peter Herweck, Chief Executive Officer, said, 'I'm pleased to report on a very strong first half of the year. We have driven strong revenue growth, up +15% organic, and combined this with a focus on profitability, with an adjusted EBITA margin of 18.0%, which represents a record high for the company. 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.'
Schneider Electric's net debt at June 30, 2023 amounted to €12,987 million after payment of -€1.8 billion to fulfill the 2022 dividend, offset by the Free Cash Flow performance of +€0.8 billion.
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