By Jaime Llinares Taboada

 

Schneider Electric SE on Thursday upgraded its revenue and earnings targets for 2022 after a strong performance in the first half of the year.

The French energy management and automation group raised its full-year adjusted earnings before interest, taxes and amortization organic growth guidance to 11%-15% from 9%-13%, and organic revenue growth to 9%-11% from 7%-9%.

Schneider reported net income of 1.52 billion euros ($1.55 billion) for the first half of the year, down slightly from EUR1.56 billion a year earlier.

However, adjusted Ebita rose 18% to EUR2.78 billion. Revenue grew 17% to EUR16.08 billion, the company said.

"We confirm the good momentum of Q1 and deliver another quarter of strong growth and record high revenues in Q2, bringing our organic growth in H1 to 10% despite the negative impacts from China and Russia," Chairman and CEO Jean-Pascal Tricoire said.

 

Write to Jaime Llinares Taboada at jaime.llinares@wsj.com; @JaimeLlinaresT

 

(END) Dow Jones Newswires

July 28, 2022 01:59 ET (05:59 GMT)

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