By Joshua Stein 
 

Schneider Electric SE on Thursday posted a decline in 2020 net profit, but proposed a dividend increase after sales growth resumed and profitability improved in the second half.

The French energy-management company reported a net profit of 2.13 billion euros ($2.58 billion) for the year, compared with EUR2.41 billion in 2019. Revenue fell 7.4% on year to EUR25.16 billion. Organically, revenue fell by 4.7%.

The company said its business model helped drive a rebound and successive growth quarters in the second half and proposed a dividend of EUR2.60 a share, up from EUR2.55.

Adjusted earnings before interest, taxes and amortization, one of the company's preferred metrics, was EUR3.93 billion, compared to EUR4.24 billion the previous year. Free cash flow came in at EUR3.67 billion, up from EUR3.48 billion.

 

Write to Joshua Stein at joshua.stein@wsj.com

 

(END) Dow Jones Newswires

February 11, 2021 01:41 ET (06:41 GMT)

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