Schneider Electric has reported group organic growth for Q3 of +7.2%. Based on the strong sales performance of Q3, and expectation of continuing growth in Q4, while facing a high base of comparison, the Group revises upward its objective for 2018
Secure Power (14% of Q3 revenues) delivered an organic growth of +6.4% in the quarter. The business grew across its segments - Distributed Secure Power, Data Centre, and Non-IT markets. Distributed Secure Power was positive, though still impacted by shortages, it says.
Secure Power offers (including new UPS offer launches) in the Data Center end-market accelerated to double-digit levels and generated pull through opportunities for the entire Group portfolio, resulting in the data center segment continuing to grow double-digit for the Group, it says.
Jean-Pascal Tricoire (pictured), Chairman and CEO, commented: “In Q3, the Group reports strong growth with revenues up +8%, c. +7% organic. Both our core businesses of Energy Management and Industrial Automation deliver, with customers combining technologies of our portfolio in efficiency solutions architected around EcoStruxure. The growth in Q3 is partly attributed to the acceleration of business conducted with end-users in mid- to longcycle industries, resulting in higher systems growth. For the end of the year, the Group expects to benefit from its balanced exposure to end-markets and geographies, in the current macro-economic environment. We keep focusing our efforts on driving our strategy of selling more products, more services, more software; and further improving profitability on systems. We keep developing our strong value proposition to customers, bringing together our synergetic portfolio into EcoStruxure. We also continue to focus and invest on furthering our digital journey for long-term growth.”
In Western Europe, the Industrial Automation division continued to grow. It reports, supported by targeted OEM offers and some project activity in process end-markets in the region. The Group continued its “strong momentum” with its EcoStruxure offers in the region. Among the large industrial markets, Germany, Italy, and the UK contributed to growth, it says.
