RUEIL-MALMAISON (dpa-AFX) - French energy management firm Schneider Electric S.A. (SBGSF.PK) reported Thursday that its first-half net income group share dropped 3 percent to 993 million euros from last year's 1.02 billion euros.
Adjusted net income was 1.26 billion euros, compared to 1.14 billion euros a year ago. Adjusted EBITA increased 10.8 percent from last year to 1.96 billion euros.
First-half revenues increased 7.2 percent to 13.20 billion euros from 12.32 billion euros last year. Revenues grew 5.4 percent organically, with growth in all regions.
In the second quarter, revenues were 6.90 billion euros, up 5.8 percent on a reported basis, and up 5 percent organically.
Further, the company upgraded its fiscal 2019 target.
The company now expects 2019 adjusted EBITA growth between 6 percent and 8 percent organically, compared to initial forecast of 4 percent to 7 percent growth. Organic sales growth for 2019 is now expected to reach 4 percent to 5 percent, up from previous view of 3 percent to 5 percent.
Adjusted EBITA margin is expected to improve organically in the upper half of the +20 bps to +50 bps range.
Jean-Pascal Tricoire, Chairman and CEO, said, 'We continue to work on our target of €1.5 - €2.0 billion of revenues to be reviewed over the period 2019-2021, completing the disposal of Pelco and U.S. panels in H1. In H2 2019, the Group expects to continue delivering organic growth in revenues, benefitting from our balanced exposure across geographies and portfolio of offers across the economic cycle.'
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