Schneider Electric S.E (OTCPK:SBGSF) Q3 2024 Earnings Conference Call October 30, 2024 3:30 AM ET
Company Participants
Amit Bhalla – Senior VP and Head of Investor Relations
Hilary Maxson – Chief Financial Officer
Conference Call Participants
Simon Toennessen – Jefferies
Jonathan Mounsey – Exane BNP Paribas
Alasdair Leslie – Bernstein
Philip Buller – Berenberg
George Featherstone – Barclays
Andre Kukhnin – UBS
William Mackie – Kepler Cheuvreux
James Moore – Redburn Atlantic
Gael de-Bray – Deutsche Bank
Max Yates – Morgan Stanley
Martin Wilkie – Citi
Jonathan Day – HSBC
Alexander Virgo – Bank of America
Benedict Uglow – Oxcap
Amit Bhalla
Good morning, everyone. Thanks so much for spending the time with us for our Q3 revenue release. You have the press release, and the presentation is on the screen.
So, I’ll hand it over to Hilary, and then we come back for Q&A.
Hilary Maxson
Thanks, Amit, and good morning, everyone. I’m happy to be here with you today to comment on our Q3 2024 revenues as well as update you on some recent M&A transactions and share our expectations for the rest of the year. Starting with Slide three, I’m happy to report another strong quarter with sales of € 9.3 billion, a new record for a Q3.
In Energy Management, we see strong demand, particularly accelerated by Data Center and with continued momentum in electrification. In Industrial Automation, we continue to see the impacts of weak market for Discrete impacting our sales, with some early signs of turnaround in demand against a low base, particularly in China.
Overall, we were up 8% organic in sales, reflecting the strong positioning of our portfolio, much of which is tied to the global megatrends we highlighted in our Capital Markets Day, plus the benefit we have from diversification across geographies and our business models.