The hottest Schneider Electric reported strong gro

2022-08-22
  • Detail

Schneider Electric announced that its first half financial report showed a strong growth momentum

editor's note: August 1, 2008 - at the meeting held on July 31, 2008, the supervisory board reviewed the financial statements of the management board for the reporting period ended June 30, 2008 on July 29, 2008

the first half of 2008: another breakthrough in financial performance

■ record high EBITA surplus: 15.0%

■ strong net income growth: increased by 17%

■ free cash flow growth more than doubled

stable internal growth: increased by 10.6%

■ performance achieved double-digit growth for the fifth consecutive half year

confidence in the outlook

■ commitment to maintain an ffo/net debt ratio of more than 35%

■ 2008 guidance target raised to The following minimum value:

■ 8% sales growth rate

■ 15% EBITA surplus

rue Maison (France), August 1, 2008 - at the meeting held on July 31, 2008, the Supervisory Board considered the financial statements of the management board for the reporting period ended June 30, 2008 on July 29, 2008

Zhao Guohua, President and CEO of the company, commented: "The first half of 2008 marks another breakthrough in Schneider Electric's financial performance. We are also in the process of surpassing all the goals of the new enterprise plan, including customer service, growth rate, productivity, rebalancing and other efficiency plans. We are transforming the company's unique position as a global energy efficiency management expert into sustainable growth, higher profits and faster cash appreciation. For 2008, we will Adjust our guiding objectives and plans to achieve a minimum of 8% of sales. The tensile strength of the composite obtained by itself reaches a growth rate of 12.6mpa and a surplus of 15.0% of EBITA. Looking forward to the future, we will show new goals and important opportunities for future development in the next enterprise plan launched in 2009. "

* EBITA: EBIT before the dilution of intangible assets in the purchase accounts

I. continued to grow continuously

in the first half of 2008, the sales reached 8.946 billion euros, achieving a strong growth of 10.6% based on the fixed structure and exchange rate. The impact of working days on this reporting period can be ignored

the contribution of the acquisition was 360 million euros, accounting for 4.4% of the sales growth, mainly 191 million euros (1.5 months) of APC and 183 million euros (6 months) of PELCO. The withdrawal from MGE's small systems business reduced sales by € 90million. The exchange rate had a significant negative impact, amounting to 481million euros, accounting for -6.6%, which was mainly due to the depreciation of the US dollar against the euro

in terms of floating structure and exchange rate, sales increased by +8.4%

growth in all regions

in the second quarter of 2008, the total sales reached 4.635 billion euros, an increase of 11.6% in terms of fixed structure and exchange rate, and an increase of 10.1% in terms of working days. The performance achieved by the group was similar to that in the first quarter

despite the slowdown in Spain and the UK, the European business achieved a stable growth of +10.9% in the second quarter. This growth was supported by the strong momentum of Eastern Europe and the good performance of Scandinavian countries and Germany, with the focus on the end markets of buildings, industry, infrastructure and data centers

in North America, affected by supply chain problems and a high comparative base, the sales growth rate was 4.7%. As the group's new businesses such as building automation and key power supply, as well as taking attractive market areas such as energy, infrastructure and construction as its main targets, it has made up for the weakening of demand in some areas

in the Asia Pacific region, sales increased by +19.1%. China has again shown good performance in all businesses, especially in key power supply and services. The Pacific and India are also important growth contributors

in the rest of the world, sales rose by 20.4%. Thanks to the electrification investment and other infrastructure projects benefited from the medium and low voltage businesses, the demand in different regions (Africa, the Middle East, South America) is still strong

growth of various businesses

the internal growth of power distribution (accounting for 56% of sales) and key power supply and refrigeration (accounting for 14% of sales) businesses continued to drive the performance growth of the group. The growth of automation and control (accounting for 30% of sales) is also very stable

II. Record high EBITA surplus: 15.0. However, it should be noted that the setting of thermal couple should be consistent with the actual type and the polarity of thermocouple wire should not be reversed%

in the first half of 2008, despite the inflationary pressure on cost and adverse exchange rate situation, its own output growth, price rise and productivity jointly promoted the significant improvement of performance. EBITA increased by 15% to 1.346 billion euros

■ internal growth of 10.6% contributed to a significant scale effect of € 240million. Due to the improvement of the profitability of projects and services, the adverse effect of mixing has decreased compared with previous reporting periods, with an impact amount of -52 million euros

■ the selling prices of products in all regions, including emerging countries, have increased, and the sales volume has increased by 166 million euros, accounting for 2.0% of the sales volume. This performance can not only offset the expansion of raw material costs of -88 million euros, but also offset other production costs of -44 million euros, mainly the rise of labor costs

■ industrial productivity continued to increase at the same rate, resulting in a revenue of 171 million euros, accounting for 3.8% of the cost of product sales. The savings realized by procurement have increased, which is mainly due to globalization, while maintaining a high level due to rebalancing and lean production

EBITA also includes € 16million in revenue from the acquisition of PELCO, a global leader in video security. Other net acquisitions after divestment contributed an additional € 6million in revenue

finally, the change of exchange rate has an adverse impact on EBITA of € 51million. However, it is worth noting that due to the rebalancing strategy adopted by the group, the impact of exchange rate on EBITA earnings has now begun to become negligible

ebita surplus increased by 0.8 percentage points in the first half of 2008, reaching a record level of 15.0%. This improvement in profitability was led by Europe and the Asia Pacific region, where surpluses rose by 1.3 and 3.1 percentage points respectively. All businesses (power distribution, automation and control, critical power supply) have also achieved increased surpluses

* since February 15, 2007, APC has been integrated

III. net income increased strongly: increased by 17%

net income reached 851 million euros, an increase of 17%, an increase of more than EBITA

this reflects that despite the interest rate pressure and the effective tax rate reduced by 1.5 percentage points to 26.6%, the financial expenditure still increased limited to 119.02 million Regularly check the transmission of the sprocket. The asset liability ratio reached 53% on June 30, 2008, 4 percentage points lower than the data in the previous half year

net income per share increased by 13% to 3.56 euros. This increase was less than the increase in net income due to the impact of the issuance of shares in early 2007 to provide part of the financing for the acquisition of APC

Copyright © 2011 JIN SHI