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Share Name Share Symbol Market Type
Schneider Electric SE EU:SU Euronext Ordinary Share
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.0% 151.36 149.00 154.00 0.00 06:15:11

Schneider Electric 3Q Revenue Rose

27/10/2021 7:25am

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Schneider Electric (EU:SU)
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   By Ed Frankl 
 

Schneider Electric SE said Wednesday that third-quarter revenue rose.

The French engineering company said revenue in the three months to the end of September was 7.22 billion euros ($8.37 billion), a rise of 11.8% compared with the same quarter of 2020 on a reported basis and 8.8% on an organic basis.

In the nine-month January to September period, sales were EUR21.00 billion, up 7% on an organic basis compared with the same period of 2019, the company said.

Global supply-chain pressures, including shortages in electronics, hit third-quarter revenue, particularly in its industrial automation business, Schneider said. The pressures are unlikely to abate for at least another two to three quarters, it added.

The Paris-based company said it also expects to continue to face increased input costs in relation to raw materials, freight and the sourcing of electronic components.

However, Schneider confirmed its full-year target of adjusted earnings before interest, taxes, and amortization growth of between 19% and 24%, despite the logistical pressures.

The company added that it had completed around EUR260 million of its share-buyback program since its reinstatement in July, and around EUR600 million cumulatively to date.

 

Write to Ed Frankl at edward.frankl@dowjones.com

 

(END) Dow Jones Newswires

October 27, 2021 02:10 ET (06:10 GMT)

Copyright (c) 2021 Dow Jones & Company, Inc.

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