Schneider Electric Reports Record 2015 Results
“In a challenging environment, we deliver record high revenues and profit, a stable margin in organic terms, and a strong growth in cash flow,” said Chairman and CEO Jean-Pascal Tricoire in an announcement of the company’s results for the period ending December 31, 2015.
“Looking by business, Buildings & Partner and IT strengthen their global leadership and deliver solid results, Infrastructure is turning the corner, improving its profitability, and Industry is on track to recover its margin and shows great resilience despite weakness in some of its end markets. All this demonstrates the robustness of our business model based on the largest worldwide network of partners further enhanced by our balanced exposure to both end-markets and geographies. Moreover this illustrates our capability to quickly adapt to a volatile and challenging environment.
“2015 is also a year we strengthen the foundations of our businesses,” continued Tricoire. “We dispose of several non-core assets to optimize our portfolio and accelerate our cost optimization, delivering ~€700m in savings.”
Schneider Electric’s priorities for 2016 are margin improvement by working on costs, growing its partner’s network through the launch of new integrated offers, accelerating services and software, and increasing selectivity on projects focusing on its sectors of expertise.
“In 2016, we expect continued growth in Western Europe and the construction market in the U.S. At the same time we see headwinds from O&G, overall weakness in the U.S. industry markets, difficulties in China though to a lesser degree than in 2015 and mixed trends in the rest of new economies. Additionally, we will face material FX headwinds from several new economies’ currencies. Therefore, we target organic revenue growth to be flat to down low single-digit, impacted by higher selectivity on project activities and a margin improvement of +20bps to +60bps before negative FX impact.”
Find out more: http://www.businesswire.com/news/home/20160216006886/en/Schneider-Electric-2015-Results-Record-Results-Quick.
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