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Schneider Electric Q1 Revenues Up 8.7%

Schneider Electric (SBGSF.PK) reported that its revenues for the first quarter were 6.307 million euros, up 5.9% organically and up 8.7% on a reported basis.

The Group reaffirmed its target for 2019. The Group targets 2019 adjusted EBITA growth between 4% and 7% organic. It expects revenue growth of 3% to 5% organic, adjusted EBITA margin up +20 to +50 bps organic.

In the first quarter, Products were up 3% organically, benefitting from offers for Residential & small buildings, as well as offers for Commercial & Industrial Buildings, while demand from discrete industrial markets moderated. The Group continues to work on ensuring profitable growth in its systems business.

Services growth was 11% organically, with strong performance in field services, growing across geographies, and in Energy & Sustainability Services, driven by projects in North America.

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