Schneider Electric 1Q Revenue Rose on Energy-Management Gains
April 18 2019 - 1:32AM
Dow Jones News
By Nathan Allen
Schneider Electric SE (SU.FR) said Thursday that revenue rose in
the first quarter, driven by strong growth at its energy-management
business.
The French electrical-equipment and automation provider said
revenue rose to 6.31 billion euros ($7.13 billion) from EUR5.80
billion a year earlier.
Analysts had predicted revenue of EUR6.17 billion, according to
a FactSet-compiled consensus.
The group's energy-management unit posted organic growth of
7.1%, driven by double-digit growth in the U.S., while its
industrial-automation grew by 2.3%.
Currency fluctuations in Schneider's favor contributed around
EUR116 million to revenue in the quarter, primarily due to the
strengthening of the dollar against the euro, the company said.
The group confirmed its guidance for earnings before interest
and amortization to grow between 4% and 7% in 2019.
Write to Nathan Allen at nathan.allen@dowjones.com
(END) Dow Jones Newswires
April 18, 2019 01:17 ET (05:17 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
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