• Sales, Adjusted EBITA and net profit at record levels, target for 2023 financial year raised
• Group revenue in the first half of 2023 is 17.6 billion euros (+15.3 per cent organic)
• Adjusted EBITA in the same period is €3.2 billion (+29 percent organic)

Schneider Electric today, Thursday 27 July 2023, published its financial figures for the first half of 2023. According to these figures, the company achieved consolidated sales of €17.633 billion in the first six months of the 2023 financial year, an increase of 15.3 percent (organic) compared with the first half of the previous year. Adjusted EBITA, i.e. adjusted earnings before interest, taxes and amortisation of intangible assets, was 3.174 billion euros, an increase of 29 per cent (organic). The adjusted EBITA margin was 18.0 percent. Net profit was up 33 per cent to 2.0 billion euros.

Also published were the figures for the second quarter of 2023, in which the company generated sales of 9.14 billion euros, an increase of almost 15 percent (organic) compared to the same period of the previous year.

Based on the results of the 1st half of the year, the company is raising its forecast for the full financial year and now expects Adjusted EBITA for 2023 to be between +18 per cent and +23 per cent organic (previously between +16 per cent and +21 per cent organic).

Some key figures at a glance

Key figures (€ million)2022 H12023 H1Reported ChangeOrganic ChangeRevenues16,07717,633+9.7%+15.3Adjusted EBITA % of revenues2,782 17.3%3,174 18.0%+14.1% +70bps+28.8% +190bpsNet Income (Group share)1,5192,023+33%

Peter Herweck, Chief Executive Officer of Schneider Electric, commented, “I am pleased to report a very strong first half. We have seen strong revenue growth, grown 15 per cent organically and combined this with an adjusted EBITA margin of 18.0 per cent. Record figures for our company.”

Further and more detailed information on the H1 2023 results can be found HERE.