RUEIL-MALMAISON (dpa-AFX) - French energy management firm Schneider Electric S.A. (SBGSF.PK) clocked revenues of 6.3 billion euros in the third quarter 2014, up by 7% year-over-year on a reported basis. On an organic basis, revenues grew by 1.6% and was up 3.9%, excluding Infrastructure.
The firm said the early cycle businesses continued to lead the growth, with Industry and Buildings & Partner revenues rising by 5.4% and 4.2% organically respectively in the quarter. IT revenues turned positive, and Infrastructure orders were up high single digit driven by long-cycle projects. By geography and over the quarter, Western Europe showed signs of stabilization, though fragile, U.S. improving and China slowing down as expected, while other new economies showing a mixed picture, the company noted.
Jean-Pascal Tricoire, Chairman and CEO, commented: 'Invensys integration is on track and we confirm our 2014 targeted cost synergies. Additionally, the currency impact on revenues is less negative than expected thanks to the recent weakening of the euro.'
Looking ahead, the environment is likely to continue to be challenging and the firm's full-year 2014 targets are confirmed.
Copyright RTT News/dpa-AFX