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• Industry and Buildings & Partner businesses led the organic growth, up 6.0% and 5.8% respectively • Western Europe improved sequentially, though still declining year over year, while new economies remained a growth engine
• Services saw growth across all businesses, up 14% organically
• Good results for Invensys fiscal year 2013-2014, order intake up 9% and profitability improvement • Full year 2014 guidance confirmed Rueil-Malmaison (France), April 24, 2014 - Schneider Electric reported today first-quarter revenues of €5,671 million, up 7.7% year-on-year on current structure and exchange rate basis. Organic revenues were up 2.5%, benefiting from a positive working day impact of 0.4pt.
The breakdown of revenues by business segment was as follows: Q1 2013 Q1 2014
€ million Restated
revenues1 Revenues Organic
growth Changes in
scope Currency
effect Reported
growth
Buildings & Partner 2,354 2,422 +5.8% +2.3% -5.2% +2.9%
Industry 1,011 1,444 +6.0% +41.9% -5.1% +42.8%
Infrastructure 1,110 1,089 -3.7% +6.8% -5.0% -1.9%
IT 793 716 -3.4% -1.0% -5.3% -9.7%
Group 5,268 5,671 +2.5% +10.4% -5.2% +7.7% Jean-Pascal Tricoire, Chairman and CEO, commented: “We start the year with solid growth. Q1 revenues are up 7.7% on a reported basis and 2.5% organically. Our early cycle businesses are the drivers for the quarter. Buildings & Partner business sees strong growth while Industry business keeps its momentum. From a geographic perspective, Western Europe observes sequential improvements and New Economies remain a growth engine for the Group.
We are pleased with the solid performance of Invensys in fiscal year 2013-2014 and a good start of 2014. Integration is well on track and teams are aligned to execute on synergies.
The trends in Q1 are in line with our expectation at the beginning of the year, we therefore confirm our full year 2014 guidance. Looking ahead, we will continue to focus on organic growth and efficiency to increase returns, while delivering strong cash.”
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