Schneider Electric First-Half Profit and Revenue Grew
30 Julio 2021 - 1:57AM
Noticias Dow Jones
By Ed Frankl
Schneider Electric SE on Friday posted higher first-half net
profit, revenue that topped pre-pandemic levels and raised its
full-year targets.
The French energy company said net income was 1.56 billion euros
($1.85 billion) compared with EUR775 million in the same period of
the previous year, as its energy-management and
industrial-automation units posted strong year-on-year growth.
Revenue came in at EUR13.78 billion, up from EUR11.58 billion in
the first half of 2020, and around 6% higher than in the first half
of 2019, before the pandemic.
Adjusted earnings before interest, taxes and amortization came
in at EUR2.36 billion in the six months to the end of June, up from
EUR1.58 billion.
The company upgraded its targets for 2021 adjusted Ebita growth
to 19%-24% from 14%-20%.
This would be achieved through revenue growth of 11%-13%, up
from previous targets of 8%-11% and a higher Ebita margin than
previously forecast.
Schneider said it would reinstate its existing EUR1.5 billion to
EUR2.0 billion share-buyback program, to be completed by 2022.
Despite a "record financial performance" in the first half, for
the rest of the year the company "will face the impact of rising
costs of raw materials and other inputs, along with continued
tightness in global supply chains" as it looks to satisfy strong
levels of demand, Chief Executive Jean-Pascal Tricoire said.
Write to Ed Frankl at edward.frankl@dowjones.com
(END) Dow Jones Newswires
July 30, 2021 02:43 ET (06:43 GMT)
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