Buy
Sell
Share Name Share Symbol Market Type
Schneider Electric SE Actions Port. EO 4 EU:FR0000121972-EUR Euronext Ordinary Share
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  +0.00 € - - - - - - - - -

Schneider Electric Beat 2018 Targets, Launches Buyback

14/02/2019 6:46am

Dow Jones News


Schneider Electric SE Actions Port. EO 4 (EU:FR0000121972-EUR)
Historical Stock Chart

2 Months : From Jan 2019 to Mar 2019

Click Here for more Schneider Electric SE Actions Port. EO 4 Charts.
   By Cristina Roca 
 

Schneider Electric SE (SU.FR) said Thursday that its net profit rose to a new record after it beat its 2018 guidance, and that it launched a new share-buyback program.

The French energy-management company said net profit for the year was 2.33 billion euros ($2.63 billion), up 8.6% from EUR2.15 billion in 2017. Analysts had seen profit rising to EUR2.37 billion, according to a consensus estimate provided by FactSet.

Schneider's fourth-quarter revenue rose 5.4% to EUR7.03 billion thanks to organic growth in all regions.

Revenue for the year totaled EUR25.72 billion, broadly in line with analysts' expectations of EUR25.69 billion, according to a consensus estimate provided by FactSet.

Revenue grew organically by 6.6% in 2018, beating Schneider's guidance, issued in October, for 6% organic sales growth this year. Schneider in October raised its guidance from a previous 5%-6% range.

Schneider posted adjusted earnings before interest, taxes and amortization of EUR3.87 billion for the year, representing 10% organic growth. This result beats Schneider's outlook for 2018, which it also raised in October to 8%-9% from its initial target of 7%-8%.

The company proposed a dividend of EUR2.35 a share, up from EUR2.20 for the year previous.

Schneider is initiating a new EUR1.5 billion-EUR2 billion share buyback program over the 2019-2021 period, it said, after completing a EUR1 billion share buyback program announced in 2017.

The French company said that for 2019, it is targeting organic Ebita growth of between 4% and 7%. It also said it sees its revenue growing organically by 3%-5%.

Schneider backed its mid-term goal of 3%-6% organic revenue growth on average. Over the next three years, Schneider will continue to focus on profitability and improving its Ebita margin, it said.

 

Write to Cristina Roca at cristina.roca@dowjones.com; @_cristinaroca

 

(END) Dow Jones Newswires

February 14, 2019 01:31 ET (06:31 GMT)

Copyright (c) 2019 Dow Jones & Company, Inc.

1 Year Schneider Electric SE Actions Port. EO 4 Chart

1 Year Schneider Electric SE Actions Port. EO 4 Chart

1 Month Schneider Electric SE Actions Port. EO 4 Chart

1 Month Schneider Electric SE Actions Port. EO 4 Chart
Your Recent History
EU
FR0000121972-EUR
Schneider ..
Register now to watch these stocks streaming on the ADVFN Monitor.

Monitor lets you view up to 110 of your favourite stocks at once and is completely free to use.

By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions

P: V:gb D:20190325 04:22:42