Schneider Electric H1 Net Income Declines; Revenues Down 10.5% Organically

(RTTNews) - Schneider Electric S.A. (SBGSF.PK) reported first half net income (Group share) of 775 million euros, a decline of 22% from prior year. Adjusted net income declined 26% to 995 million euros. Adjusted earnings per share was 1.80 euros compared to 2.42 euros.

First half revenue was 11.575 billion euros, a decline of 12.3% reported, or down 10.5% organically.

Second quarter revenues were 5.745 billion euros, down 14.2% organically and down 16.7% on a reported basis.

The Group has re-established targets for 2020 and the share buyback program is no longer suspended. For 2020, the Group expects: revenue to decline 7% to 10% organic, and adjusted EBITA margin between 14.5% to 15.0%.

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