Schneider Electric: Significant gains thanks to weak euro
In comparison with the prior year turnover rose by 7.8% to EUR 5,996 m, an increase mainly due to the weakness of the euro.
EUR 536 m can be entirely put down to exchange rate effects, as the euro has lost heavily against the US dollar and the Chinese yuan.
In Western Europe EUR 1,659 was generated (28% of corporate turnover), in North America EUR 1,620 m (27%), in the Asia/Pacific region EUR 1,665 m (28%) and in the rest of the world EUR 1,052 m (17%).
Turnover figures in the saturated markets remained stable, even in Western Europe, while North America managed an increase due to a favourable construction market. The developing countries on the other hand recorded a slight drop (-1%), with China in particular displaying weaknesses. 42% of consolidated turnover was generated in these markets of the future in the 1st quarter 2015.
Chairman Jean-Pascal Tricoire appeared to be satisfied with the 1st quarter and confirmed the annual targets. For 2015 Schneider Electric expects further growth in North America and a continuing stabilization in Western Europe, but with a mixed picture in the developing countries.
Organic turnover is expected to be in low single figures and the EBITA margin between 14-14.5%. In addition up to EUR 1.5 bn is to be saved by 2017.