Says the second quarter is characterized by strong organic growth of 6.5% outside Western Europe
Schneider Electric has declared its second quarter revenues and first half results for the period ending June 30, 2013.
Jean-Pascal Tricoire, Chairman and CEO, Schneider Electric, said, “We deliver a solid performance in the first half of 2013. The second quarter is characterized by strong organic growth of 6.5% outside Western Europe. Growth in North America and China gains traction and new economies sustain their good momentum. In the second quarter, Asia-Pacific becomes the largest region of the company, ahead of Western Europe.”
He further added, “I am also pleased with our operational efficiency as gross margin improves excluding the impact of Electroshield-TM Samara and cash generation is strong. Focused execution of growth and cost efficiency initiatives, including tailored supply chain, allow us to perform well in a low growth environment. In parallel, we continue to invest in R&D, new economies and services.”
As per the release, second half priorities will be centered on profitable growth, operational efficiency and integration of acquisitions.
The company informed that while the world economy is still uncertain, Schneider Electric expects the first signs of sequential stabilization towards the end of the year in Western Europe and continuous growth in North America, China and new economies in the second half. The company will also monitor the evolution of emerging market currencies and expect stabilization.