Schneider Electric today reported 1Q18 revenue of €5.8 billion, with strong cross-selling across company segments. The energy management and industrial automation sectors fueled the strong start to the year – with 6.2 percent organic growth.
INDUSTRY & INFRASTRUCTURE MARKETS
Energy management yielded €4.3 billion globally, reporting organic growth of 5.2 percent. The North American business, Mexico included, accounted for €1.8 billion in revenue, up 5 percent compared to 1Q17. The growth of commercial and industrial buildings had Schneider benefiting from investment in datacenters.
Metals, mining and transportation saw increasing demand and had the company outperforming in services, both in US and Canada, while Mexico was down.
Industrial Automation posted revenue of €1.5 billion, up 9.2 percent compared to 1Q17 and driven by strong OEM demand and outperformance in discrete and machine automation.
“We began 2018 with a strong performance in Q1, confirming accelerated momentum since 2017. Our two businesses, Energy Management and Industrial Automation, delivered strong organic growth,” said Jean-Pascal Tricoire, Chairman and CEO of Schneider Electric. “We progressed well on our initiatives to have more products through our partners, more software, more services, and to accelerate EcoStruxure deployments. We see growing traction for our efficiency solutions integrating energy management and automation.”
The company reaffirmed its FY18 target of delivering organic growth in adjusted EBITA of 4-7 percent.