Schneider Electric Upgrades 2020 Guidance
22 Octubre 2020 - 1:19AM
Noticias Dow Jones
By Giulia Petroni
Schneider Electric SE said Thursday that it was raising its
full-year guidance following a positive third-quarter
performance.
The French energy-management company said quarterly revenue came
in at 6.46 billion euros ($7.66 billion), down 2.8% from the
previous-year period. On an organic basis, revenue rose 1.3%.
The energy-management division registered organic growth of 2.5%
on year, while the industrial automation business posted a 2.5%
organic decline.
"We saw a progressive recovery across the business throughout
the quarter, which was boosted, in part, by pent-up demand from
past orders and re-stocking in our distribution channels," Chief
Executive Jean-Pascal Tricoire said.
The company said uncertainties persist around fourth-quarter
results due to a rise in coronavirus cases across geographies.
Schneider Electric raised its guidance for the full year, saying
it now expects a revenue decline of between 5% to 7% organically
from a previously forecast decline of 7% to 10%. The adjusted
earnings before interest, taxes and amortization margin is expected
to be around 15.1% and 15.4%.
The company reiterated its 2022 adjusted Ebita margin target of
around 17%.
It also said it remains committed to its portfolio optimization
program, but expects the timeline to be delayed by around one year
due to the Covid-19 crisis.
Write to Giulia Petroni at giulia.petroni@wsj.com
(END) Dow Jones Newswires
October 22, 2020 02:04 ET (06:04 GMT)
Copyright (c) 2020 Dow Jones & Company, Inc.
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