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Q3 2022 Revenues

Revenues up +12% organic. Full Year 2022 Target confirmed
  • Q3 revenues of €8.8 billion; all four regions growing
  • Energy Management up +12.1% organic
  • Industrial Automation up +12.0% organic
  • Long-term incremental growth drivers growing double-digit:
  • Services – up high-single digit organic
  • Software – Energy Management software up >20% org.
  • Sustainability Business – up >20% org.
  • Continued sequential supply chain easing though pressure on electronic components remains
  • Disposal program reaches targeted range:
  • Sale of industrial sensors business – EV of €723 million;
  • €1.5 billion of revenues addressed against €1.5-€2.0bn program
  • Committed to share buyback program: completion in coming months
  • Completion of sale of Schneider Electric Russia to local management
  • Schneider Sustainability Impact performance buoyed by continued climate action
  • FY 2022 Target confirmed – Adj. EBITA growth of between +11% to +15% org.

Jean-Pascal Tricoire, Chairman and CEO commented:

“We deliver strong growth in Q3, with revenues up +12% organic, and balanced between our two synergetic businesses and our four regions. We see double-digit growth in our Products and Systems revenues. We complement this strong momentum by our incremental growth drivers of Services, Software and Sustainability, with particularly strong dynamics in Energy Management software and Sustainability. As expected, we continue to navigate tightness in global supply chains particularly linked with the supply of electronic components. Our Q3 revenues are notably impacted by the exit of our business in Russia.

We make strong progress in our disposal program of €1.5-€2.0 billion of revenues, reaching today a total of €1.5 billion, as we announce the disposal of our industrial sensors business and some other smaller non-strategic assets. Outside of this target, we also confirm the completion of the transfer of Schneider Electric Russia to the local management team, with Q3 being the final quarter we will consolidate those results. We announced in Q3 our intention to acquire the minority shareholding in AVEVA. This proposed transaction, though not compulsory, presents an opportunity to accelerate the growth of our software strategy, provide one data-hub and a fast track to the Enterprise Metaverse. We remain committed to the completion of our existing share buyback program, which we expect to complete in the coming months.

Despite an uncertain economic backdrop, demand for our products and solutions remains strong, though moderating from high levels in consumer-linked segments, as expected. We see strong demand in digitization and electrification everywhere, and particular momentum in areas of our portfolio associated with the energy transition in mature economies, and renewed momentum in resource-driven economies supportive of the later-cycle segments we serve. We confirm our 2022 full year target”.

The replay of the webcast is available here

Schneider Sustainability Impact
Q1 Revenue April 27, 2022 NA
Half-Year Results July 28, 2022
Q3 Revenue October 27, 2022 NA
Full-Year Results February 2023 NA NA NA NA NA

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