Low Industrial Investments in Middle East Weigh on Schneider’s Growth, but China Returned to Growth
Wide-moat Schneider Electric reported respectable third-quarter revenue of EUR 6 billion, down 8% year over year on a reported basis, about flat on an organic basis, and roughly in line with our estimates. The impact of foreign exchange fluctuations was negative at EUR 144 million, or 2.0%, and changes in scope of consolidation had a negative impact of EUR 283 million, or 4.3%. Schneider’s organic growth was dragged down by the Middle East (down 6% organically), where persistently low oil prices...Schneider Electric is engaged in energy management. Co. is organized into four areas: Buildings and Partner, Infrastructure, Industry and IT; and operates in four principal markets: non-residential & residential buildings, utilities & infrastructure, industry & machine manufacturers and data centers & networks. The non-residential and residential buildings market includes end-users, property developers, design firms, and systems integrators. The utilities and infrastructure market includes energy operators. The industries market serves end users and companies, and engineering firms. The data centers and networks contain servers that process and store digital data in secure rooms.
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