Schneider Electric Half Year 2023 Results

Financial Information: https://www.se.com/ww/en/assets/564/document/419038/release-hy-results-2023.pdf

Peter Herweck, Chief Executive Officer, commented: “I’m pleased to report on a very strong first half of the year. We have driven strong revenue growth, up +15% organic, and combined this with a focus on profitability, with an adjusted EBITA margin of 18.0%, which represents a record high for the company. We continue to grow our backlog, reflective of strong demand trends primarily linked to Electrification in the New Energy Landscape and Artificial Intelligence driving increased traction for Data Centers. Our record operating cash flow reflects the quality of our business, and we expect this to translate into strong free cash flow in H2 2023. Our balanced geographical footprint and end-market exposure gives us confidence to continue to deliver profitable growth. As such we today upgrade our FY 2023 financial target.”