Schneider Electric 3Q Revenue Rose
27 Oktober 2021 - 08:25AM
Dow Jones News
By Ed Frankl
Schneider Electric SE said Wednesday that third-quarter revenue
rose.
The French engineering company said revenue in the three months
to the end of September was 7.22 billion euros ($8.37 billion), a
rise of 11.8% compared with the same quarter of 2020 on a reported
basis and 8.8% on an organic basis.
In the nine-month January to September period, sales were
EUR21.00 billion, up 7% on an organic basis compared with the same
period of 2019, the company said.
Global supply-chain pressures, including shortages in
electronics, hit third-quarter revenue, particularly in its
industrial automation business, Schneider said. The pressures are
unlikely to abate for at least another two to three quarters, it
added.
The Paris-based company said it also expects to continue to face
increased input costs in relation to raw materials, freight and the
sourcing of electronic components.
However, Schneider confirmed its full-year target of adjusted
earnings before interest, taxes, and amortization growth of between
19% and 24%, despite the logistical pressures.
The company added that it had completed around EUR260 million of
its share-buyback program since its reinstatement in July, and
around EUR600 million cumulatively to date.
Write to Ed Frankl at edward.frankl@dowjones.com
(END) Dow Jones Newswires
October 27, 2021 02:10 ET (06:10 GMT)
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