Schneider Electric Net Profit, Revenue Rose

By Matteo Castia

Schneider Electric SE reported Thursday a rise in net profit for 2019 on growing revenue across all its markets.

The French energy-management group made a net profit of 2.41 billion euros ($2.60 billion) for the year ended Dec. 31, 2019, compared with EUR2.33 billion in 2018. Revenue rose 5.6% year-on-year to EUR27.16 billion.

Adjusted earnings before interest, taxes and amortization--one of the company's preferred metrics which strips out exceptional and other one-off items--was EUR4.24 billion, 9.4% higher than the previous year.

The company benefited from the digitalization of the business and a smooth execution of the group's strategy, a Schneider Electric spokesperson said.

Schneider Electric added that revenue for the fourth quarter grew 4% to EUR7.31 billion.

The board has declared a yearly dividend of EUR2.55, up from EUR2.35 the previous year.

The company is targeting a 1% to 3% organic-revenue growth this year, a company spokesperson added.

"We remain committed to strengthen the group core and pivot gradually towards more connected products, automation, software and services," Chief Executive Jean-Pascal Tricoire said.

Write to Matteo Castia at [e-mail]

(END) Dow Jones Newswires

February 20, 2020 01:46 ET (06:46 GMT)

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