from SCHNEIDER ELECTRIC (EPA:SU)
Schneider Electric completes the disposal of Telemecanique Sensors
Financial Information
Schneider Electric completes the disposal of Telemecanique Sensors
Rueil-Malmaison (France), October 31, 2023 – Schneider Electric, the leader in the digital transformation of energy management and industrial automation, today announces that further to an agreement signed on October 27, 2022, it has now completed the previously announced disposal of its industrial sensors business, Telemecanique Sensors, to YAGEO.
The all-cash transaction values Telemecanique Sensors at €723 million (Enterprise Value). It closed on October 31, 2023 and until this date, Telemecanique Sensors was reported as part of the Industrial Automation business.
Based on transactions completed to-date including the disposal of Telemecanique Sensors, the Scope impact on FY 2023 revenues is now estimated to be around -€900 million (previously -€850 million). The Scope impact on adjusted EBITA margin for FY 2023 is still estimated to be around -30bps.
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