Further growth for Schneider Electric

Schneider Electric managed to raise its annual turnover by 8.6% in 2014 from EUR 23,392 m in the prior year to a current figure of EUR 24,939 m.

Net profits increased by 2.8% to EUR 1.94 bn and adjusted earnings before interest, tax and amortization (EBITA) grew by 3.2% to EUR 3.6 bn.

The outstanding event of last year was the takeover of its British rival Invensys for GBP 3.31 bn (EUR 4.51 bn), which enables Schneider to compete better with Siemens and Mitsubishi Electric.

For 2015 Schneider expects growth in the low single-figures. North America should make solid growth, and there is cautious optimism with regard to Europe. The emerging economies display a mixed picture, and things are likely to become difficult in Russia but there is likely to be an improvement in China over the course of the year.

By 2017 the group wants to save up to EUR 1.5 bn and at the same time sell off parts of the company which do not belong to its core business.