{"id":77210,"date":"2023-05-03T01:10:30","date_gmt":"2023-05-03T01:10:30","guid":{"rendered":"https:\/\/enterpriseam.com\/climate\/2023\/05\/03\/schneider-electric-posts-solid-results-for-1q-updates-growth-target-for-fy-2023\/"},"modified":"2023-05-03T01:10:30","modified_gmt":"2023-05-03T01:10:30","slug":"schneider-electric-posts-solid-results-for-1q-updates-growth-target-for-fy-2023","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/climate\/2023\/05\/03\/schneider-electric-posts-solid-results-for-1q-updates-growth-target-for-fy-2023\/","title":{"rendered":"Schneider Electric posts solid results for 1Q, updates growth target for FY 2023"},"content":{"rendered":"

<\/a> Schneider Electric posted group <\/strong>revenues of EUR 8.5 bn during 1Q 2023 \u2014 a record high for the first quarter of a year<\/strong>, according to its earnings release (pdf)<\/a>. Its revenues were up 15.8% y-o-y organic and 12.3% on a reported basis, with all four regions where it operates contributing to the robust results, it said.<\/p>\n

The breakdown: <\/strong>Its products segment \u2014 which represents 56% of 1Q revenues \u2014 rose 11% organic in the quarter. Energy management revenues were up 14.3% y-o-y to c. EUR 6.5 bn, with an organic growth of 18%. Its industrial automation services grew by 6.1% y-o-y in 1Q to EUR 2 bn with an organic growth of 10%, with both affected by the slow start to the year in China. \u201cSupply chain shortages, while remaining a factor, showed some progressive improvement as expected, allowing good execution against the backlog,\u201d it said.<\/p>\n

Sustainability progress:<\/strong> Schneider Electric\u2019s 1Q results for its Schneider Sustainability Impact (SSI) program cited good progress in helping clients slash their carbon footprint through low carbon emissions solutions. It also made progress in the Zero Carbon Project, which falls under efforts to reach net-zero emissions across its value chain by 2040. The company\u2019s consolidated SSI for 1Q was 5.25 out of 10 as its eyes a full-year target of 6, it added.<\/p>\n

Looking ahead: <\/strong>The French electrical equipment group upgraded its 2023 target on the back of the strong results, adjusting its EBITA growth to between 16-21% organic from a previous 12-16% organic, its earnings release showed. Revenue growth was adjusted to 10%-13% organic from a previous growth of 9% and 11% organic. \u201cThe global supply chain environment continues to ease, supporting the execution of our order backlog, while demand remains at high levels with a record backlog at the end of 1Q, despite deceleration in consumer-linked segments,\u201d it said on the adjusted growth for the year.<\/p>\n","protected":false},"excerpt":{"rendered":"

Schneider Electric posted group revenues of EUR 8.5 bn during 1Q 2023 \u2014 a record high for the first quarter of a year, according to its earnings release (pdf). Its revenues were up 15.8% y-o-y organic and 12.3% on a reported basis, with all four regions where it operates contributing to the robust results, it […]<\/p>\n","protected":false},"author":1,"featured_media":77211,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[106],"tags":[105,11,321],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-77210","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-earnings-watch","tag-earnings-watch","tag-enterpriseclimate","tag-schneider-electric","wpautop","entry"],"acf":{"mongo_id":"60a24865-c3f7-4b1a-89b9-8d85dac23a3f","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2022\/11\/183.jpg","photo_position":"above","related_issue":[77200],"teaser":"","voice_url":""},"yoast_head":"\nSchneider Electric posts solid results for 1Q, updates growth target for FY 2023 - Climate<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/climate\/2023\/05\/03\/schneider-electric-posts-solid-results-for-1q-updates-growth-target-for-fy-2023\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Schneider Electric posts solid results for 1Q, updates growth target for FY 2023\" \/>\n<meta property=\"og:description\" content=\"Schneider Electric posted group revenues of EUR 8.5 bn during 1Q 2023 \u2014 a record high for the first quarter of a year, according to its earnings release (pdf). 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