on SCHNEIDER ELECTRIC (EPA:SU)
Schneider Electric Reports Record Q3 2024 Revenues
Schneider Electric announced strong financial results for the third quarter of 2024, with group revenues reaching €9.3 billion, marking a record 8% organic increase. Energy Management saw a significant 12% growth, while Industrial Automation faced a 6% decline. Key growth drivers included double-digit increases in North America and the Rest of the World, with Systems and Services leading the way.
The company highlighted its strategic acquisition of Motivair Corporation to enhance its liquid cooling capabilities in Data Centers. CEO Peter Herweck emphasized the strong sales in Systems and Software, driven by the growing demand for digitization, AI, and energy transition solutions. Schneider continues to focus on sustainability, surpassing its goal of providing green energy access to 50 million people.
Reaffirming its targets, Schneider Electric aims for a 9%-13% organic growth in adjusted EBITA for the year. The company remains committed to expanding its subscription model in Software and Services while addressing challenges in Industrial Automation.
R. E.
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