Schneider: raises targets for 2020
(CercleFinance.com) - Schneider has posted Q3 2020 sales of 6,458 million euros, up 1.
3% organically and down 2.8% on a reported basis.
In North America (32% of Energy Management revenue in Q3), the Energy Management business posted organic growth of +2.1% over the quarter. In Western Europe (25% of Energy Management revenue in Q3), Energy Management posted organic growth of 1.1% over the quarter.
In Asia-Pacific (29% of Energy Management revenue in Q3), the Energy Management business generated organic growth of +4.9% over the period and showed a sequential improvement over the quarter.
The group has raised its targets for FY 2020. It now targets expected organic sales growth of between -5% and -7% (up from a previous range of -7% to -10%), with an adjusted EBITA margin of between -20 and +10 basis points on an organic basis (compared with -90 to -50 basis points previously), implying an adjusted EBITA margin of around 15.1% to 15.4% (including consolidation scope and currency effects compared with current estimates).
Copyright (c) 2020 CercleFinance.com. All rights reserved.
3% organically and down 2.8% on a reported basis.
In North America (32% of Energy Management revenue in Q3), the Energy Management business posted organic growth of +2.1% over the quarter. In Western Europe (25% of Energy Management revenue in Q3), Energy Management posted organic growth of 1.1% over the quarter.
In Asia-Pacific (29% of Energy Management revenue in Q3), the Energy Management business generated organic growth of +4.9% over the period and showed a sequential improvement over the quarter.
The group has raised its targets for FY 2020. It now targets expected organic sales growth of between -5% and -7% (up from a previous range of -7% to -10%), with an adjusted EBITA margin of between -20 and +10 basis points on an organic basis (compared with -90 to -50 basis points previously), implying an adjusted EBITA margin of around 15.1% to 15.4% (including consolidation scope and currency effects compared with current estimates).
Copyright (c) 2020 CercleFinance.com. All rights reserved.