Schneider Electric Full-Year Report 2023

Peter Herweck, Chief Executive Officer, commented: “I am pleased to share that 2023 was another year of record performance for Schneider Electric, with +13% organic growth in revenues coupled with excellent organic margin progression, highest free cash flow and a strong step-up in net income for the full year. Based on these results we are proposing a dividend of €3.50 per share, representing our 14th consecutive year of dividend progression.

We enter 2024 with a record level of backlog, particularly in relation to our systems business, giving us enhanced visibility for the coming quarters. Backlog and continuing strong demand dynamics across most of our portfolio solidifies setting strong financial targets for 2024. This is the first step of the “Next Frontier” our four-year journey as a leader in Industrial Tech, as set out in our CMD.”

Highlights

  • FY23 revenues of €36 billion, up +13% organic
  • Energy Management up +14% organic
  • Industrial Automation up +7% organic
  • Q4’23 revenues up +9% organic o Software & Services up +17% organic; ARR at AVEVA up +19%
  • FY23 Adj. EBITA €6.4 billion, up +25% organic
  • Adj. EBITA Margin 17.9%, up +180bps organic
  • Net Income €4.0 billion, up +15%
  • Free Cash Flow €4.6 billion; up +38% with strong working capital contribution in H2
  • Progressive dividend1 at €3.50/share, up +11%
  • Schneider Sustainability Impact – score of 6.13 vs. target of 6.00
  • FY24 Target: Adj. EBITA org. growth between +8% and +12%, driven by +6% to +8% org. revenue growth and +40bps to +60bps org. Adj. EBITA margin improvement 

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