Schneider Electric Raises 2022 Outlook After Strong 1st Half
28 Juli 2022 - 8:14AM
Dow Jones News
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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