26 February 2007
Operating income rose 28%, to €2.001 billion, and sales rose 18% to €13.73 billion. Jean-Pascal Tricoire, chairman of the management board and CEO, said: “Schneider Electric has recorded strong sales and earnings growth for the third year in a row. Our growth strategy and new² company programme have allowed us to generate organic growth of 9% per year over the past three years, to achieve a record operating margin of 14.6% in 2006 and to double our operating income between 2003 and 2006.“We are now half way through our new² company programme and fully confident in our ability to continue improving performance as of 2007 and to meet more ambitious targets.”Acquisitions contributed €800 million to sales. All regions and businesses with Schneider reported growth in operating income. Commenting on the acquisition of APC, Tricoire said: “We have created a Critical Power & Cooling Services Business Unit that combines APC’s resources with those of MGE UPS Systems. The Business unit is already operational, and its people are ready for action, under a single management team. We confirm the targets set when the transaction was announced.”
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