Schneider is growing again

Beginning of year good for Schneider. The world's number one low-voltage electrical equipment and number three for medium voltage carried on the first three months of the year a turnover of 3.91 billion euros, up 2.3% at the both structure and exchange data current and organic. It's better than expected by analysts polled by Reuters had expected a slight decline in activity (-1.2% to 3.78 billion).

This is the first quarter of growth for the group since the third quarter of 2008, the beginning of the economic crisis for the sectors to which its activity. "As expected, we see significant recovery in industrial activity – a sharp contraction after last year – and the rebound in investment in energy secure," said Chief Executive Jean-Pascal Tricoire in a statement.

2010 targets confirmed

Schneider is being strengthened in emerging countries like China, its second largest market behind the United States and ahead of France and on the segment to higher value-added solutions for energy management. "Energy efficiency and renewable energy, particularly in Europe, remain a relay of growth through new orders supported," said Schneider.

In contrast, "the market for commercial property in the mature economies should not restart the short term and probably still weigh on the work of Schneider for several months," said Emmanuel Babeau, CFO of the group, even if it considers that low point could be reached at the end of the second quarter.

The focus group confirmed a moderate growth this year to a number of his sales at constant exchange rates and consolidation scope, after falling nearly 16% throughout 2009.

Schneider also still expects an improvement in EBITA margin of approximately 14% before restructuring costs and impact of integration Areva Distribution, against 12.9% in 2009 and 16% in 2008, thanks to cost savings conducted under the Strategic Program One.

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