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Schneider reports strong financial results

22 January 2007

Schneider Electric has reported positive financial results for 2006 with annual sales up 17.6 percent to €13,730 million.

After increases in the previous two years organic growth reached 10.7 percent, claimed to be a result of successful initiatives launched under the new² company programme.

Jean-Pascal Tricoire, CEO and chairman of the management board, said: “Schneider Electric’s strong organic growth over the past three years and the record performance in 2006 demonstrate the success of its growth model based on geographic expansion, technological innovation and new businesses’ integration.”

Strong performance in Europe was said to offset lower growth in North America and emerging countries reported strong growth, of 15 percent on average.

Tricoire was positive about the year ahead and said: “Assuming current economic conditions, we are confident in Schneider Electric’s ability to generate in 2007 an organic growth above the new² company programs target.”