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Schneider Electric Q3 Revenues Up 12.1% Organic; Confirms FY22 Target

Schneider Electric (SBGSF.PK) reported third quarter revenues of 8.78 billion euros, up 12.1% organic from last year, and up 21.6% on a reported basis.

Jean-Pascal Tricoire, CEO, said: "We deliver strong growth in third quarter, with revenues up 12% organic, and balanced between our two synergetic businesses and our four regions. We see double-digit growth in our Products and Systems revenues. Our third quarter revenues are notably impacted by the exit of our business in Russia."

Looking forward, the Group confirmed its fiscal 2022 target: adjusted EBITA growth of between 11% and 15% organic; revenue growth of 9% to 11% organic; and adjusted EBITA margin up 30bps to 60bps organic.

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