Schneider Electric announced that revenues and profits for 2021 exceeded estimates amid strong demand.
The French engineering group stressed that the net profits of the year amounted to 3.20 billion Euros, higher than the 2.13 billion Euros in 2020.
Schneider showed record revenues that increased 12.7% on an organic basis, to 28.91 billion Euros.
The results exceeded the estimates that spoke of net profits of 2.99 billion Euros and revenues of 28.73 billion Euros.
Adjusted EVITA stood at € 4.99 billion, up 23.2% on an organic basis, despite the added cost of raw material inflation and supply chain pressures worldwide.
However, cash flows fell to 2.80 billion euros from 3.67 billion euros a year ago, due to the accumulation of stocks to meet high levels of customer demand, which will continue until 2022.
The company also set a target for 2022 to increase organically adjusted EBITDA between 9% -13%.
He expects that the increase in organic revenues for 2022 will be 7% -9%, and that the margin of organic EBITDA will increase by 30-60 basis points.
Schneider proposed a dividend of 2.90 euros per share.
Source: Capital
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