Schneider Electric FY22 Profit Rises, Revenues Up 12% Organic

Schneider Electric S.A. (SBGSF.PK) reported fiscal 2022 net income Group share of 3.48 billion euros, up 9% from last year. Adjusted EBITA was 6.02 billion euros, up 20.7% reported or up 14.4% on an organic basis. Adjusted earnings per share was 7.11 euros, up 13.1% organic.

Fiscal 2022 revenues were 34.18 billion euros, up 18.2% reported, or up 12.2% organic from last year. Fourth quarter revenues were 9.32 billion euros, up 16.0% organic and up 17.8% on a reported basis.

For 2023, the company expects adjusted EBITA growth of between 12% and 16% organic, and revenue growth of 9% to 11% organic.

Over 2022 - 2024, the company targets organic revenue growth of between 5% to 8%, on average.

Over longer-term, the company expects organic revenue growth of 5%+ on average across the economic cycle.

The proposed dividend is 3.15 euros per share, up 9% from 2021.

Peter Herweck, currently CEO of AVEVA, will succeed Jean-Pascal Tricoire as Chief Executive Officer of Schneider Electric after the AGM scheduled for May 4, 2023. Jean-Pascal Tricoire will remain as Chairman.

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