Full Year 2024 Schneider Electric SE Earnings Call Transcript
Key Points
- Schneider Electric SE (SBGSF) reported a record level of sales at EUR38 billion, with an 8.4% organic growth, slightly above their guidance.
- The company achieved a high level of profitability with a 14% increase in adjusted EBITA, reaching EUR7 billion for 2024.
- Schneider Electric SE (SBGSF) has been named the most sustainable company in the world by Corporate Knights for the second time in five years.
- The company continues to see strong demand and growth in Energy Management, particularly in Data Centers, contributing to a robust pipeline for 2025.
- Schneider Electric SE (SBGSF) has a strong focus on innovation and technology, with significant investments in R&D and the launch of new products like EcoStruxure and AirSeT, enhancing their competitive edge.
- The company faced a non-cash impairment impacting net income, although adjusted net income showed strong operating results.
- Schneider Electric SE (SBGSF) experienced negative growth in Discrete automation markets, affecting Industrial Automation sales.
- The company was impacted by adverse FX translation, particularly due to the weakening of the Chinese yuan, affecting revenues by around EUR400 million.
- There is continued weakness in the construction markets in China, impacting sales in the region.
- Pricing in Systems is expected to normalize in 2025, which may lead to more muted gross margin progression compared to previous years.
Welcome to Schneider Electric's 2024 full year results with Olivier Blum, Chief Executive Officer; Hilary Maxson, Chief Financial Officer; and Amit Bhalla, Head of Investor Relations. (Operator Instructions)
I would like to inform all parties that today's conference is being recorded. If you have any objections, you may disconnect at this time. I will now hand you over to Amit Bhalla.
Good morning, everyone. Very happy that you could be with us today and thank you for your interest in Schneider Electric. I'm joined with Olivier and Hilary, our CEO and CFO, we will have the business highlights section, followed by the financial highlights, and we'll keep time for Q&A.
So I obviously want to remind everybody about the disclaimer as always on our slides and immediately hand it over to Olivier.
Thank you very much, Amit.
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