FX.co ★ Schneider Electric Q3 Revenues Rise; Confirms FY24 Outlook

Schneider Electric SA, the French energy management company, announced on Wednesday that its group revenues for the third quarter reached €9.31 billion, representing a 6% increase overall and an 8% organic growth.

Energy Management revenues saw a significant rise of 10.3% compared to last year, amounting to €7.65 billion, with organic growth at 11.6%. In contrast, revenues for Industrial Automation experienced a decline, dropping 10.5% on a reported basis and 6% organically, to €1.66 billion.

In terms of future outlook, Schneider Electric has reiterated its fiscal 2024 projections. The company anticipates adjusted EBITA growth between 9% and 13%, with an organic adjusted EBITA margin increase of 60 to 80 basis points, targeting a margin of approximately 18.1% to 18.3%. The company also expects its organic revenue to grow by 6% to 8%.