Schneider: 2020 results better than expected
(CercleFinance.com) - On Thursday Schneider Electric unveiled annual results that exceeded expectations, with the group particularly benefiting from two successive quarters of growth in the second half of the year.
The electrical equipment specialist posted net profit of 2.1 billion euros last year, compared with a profit of around 2.4 billion euros in 2019.
Adjusted EBITA declined 7.4% to 4.2 billion euros, on sales that fell 4.7% in organic terms to less than 25.2 billion euros.
The group - which is proposing a dividend of 2.60 euros per share, up 2% from 2019 - has said that it is aiming for adjusted EBITA that is up by 9% and 15% in 2021, based on organic sales growth of between 5% and 8%.
Schneider has also set itself the target of achieving an adjusted EBITA margin of around 17% by 2022, up from 15.6% last year.
The share was up 2% on Thursday morning on Euronext Paris after these figures were released.
Copyright (c) 2021 CercleFinance.com. All rights reserved.
The electrical equipment specialist posted net profit of 2.1 billion euros last year, compared with a profit of around 2.4 billion euros in 2019.
Adjusted EBITA declined 7.4% to 4.2 billion euros, on sales that fell 4.7% in organic terms to less than 25.2 billion euros.
The group - which is proposing a dividend of 2.60 euros per share, up 2% from 2019 - has said that it is aiming for adjusted EBITA that is up by 9% and 15% in 2021, based on organic sales growth of between 5% and 8%.
Schneider has also set itself the target of achieving an adjusted EBITA margin of around 17% by 2022, up from 15.6% last year.
The share was up 2% on Thursday morning on Euronext Paris after these figures were released.
Copyright (c) 2021 CercleFinance.com. All rights reserved.