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Schneider Electric: record Q1 sales

( - Schneider Electric has reported record Q1 sales on Thursday, ahead of analysts' expectations, notably thanks to strong growth in energy management systems.

Q1 sales totaled E8.6bn, up 1.3% as reported, with organic growth of 5.3%.

By way of comparison, the consensus was looking for organic growth of 4.5%.

We have entered 2024 with strong demand dynamics in most sectors and geographical areas, particularly in the data center and infrastructure sectors, management said.

The systems business - which represents 28% of sales - posted organic growth of 14% in Q1, with double-digit sales growth in energy management.

The group said that it was benefiting from continuing strong demand in the data center and infrastructure markets.

Schneider also confirmed its targets for 2024, while noting that it expected a strong contribution from H2.

Organic sales growth is still expected to be in the range of 6% to 8%, with an organic increase in adjusted Ebita margin of between 40bp and 60bp.

The share price gained around 0.3% after this publication, which nevertheless placed it among the CAC 40 index's biggest risers in early exchanges.

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