Member access

4-Traders Homepage  >  Shares  >  Euronext Paris  >  SCHNEIDER ELECTRIC    SU   FR0000121972

SCHNEIDER ELECTRIC (SU)

1488
SummaryQuotesChart AnalysisNewsAnalysisCalendarCompanyFinancialsConsensusRevisions 

SCHNEIDER ELECTRIC : Annual Shareholders’ Meeting on May 3, 2012

05/04/2012 | 01:47pm US/Eastern
Recommend:
0

Rueil-Malmaison - May 4, 2012 - The shareholders of Schneider Electric SA met in the combined ordinary and extraordinary Annual Meeting, chaired by Henri Lachmann, Chairman of the Supervisory Board, on May 3, 2012 to hear, among others, the reports of the Management Board and Supervisory Board and to approve the financial statements for 2011.

I. Presentation by the Management Board:
   2011 performance, 'Connect' program and long term targets

During the meeting, Jean-Pascal Tricoire, Chairman of the Management Board, reiterated the strategy of the Group and demonstrated its continuous deployment over the past few years. He showed the strong results achieved under the 'One' company program (2009-2011), that laid a very solid foundation for our future: One brand, One company for our customers and employees, One organization everywhere, and a far higher efficiency than in 2008.

Jean-Pascal Tricoire also presented Schneider Electric's new company program for 2012 to 2014, called 'Connect'. Jean-Pascal Tricoire commented: "Connect will extend the strong foundation of One to all our strategic levers: products and solutions, mature and new economies, our people, while continuing to drive efficiency at all levels."

Tangible examples were used to illustrate the Group's strategic ambitions, namely:

  • Identify key investment areas in new economies and create new opportunities in mature countries to be a leader in both mature and new economies (Connect Everywhere);
  • Further improve the performance of its business models and be a leader in products and in solutions (Connect to Customers);
  • Create a culture and an environment favoring the development and performance of the Group's employees (Connect People);
  • Launch a new chapter in the Group's history of profitable and responsible growth (Connect for Efficiency).


Emmanuel Babeau, Executive Vice-President Finance, presented the results for 2011. He also commented on the Group performance for the first quarter of 2012, with sales showing good growth of +9.4% to €5,411 million.  Like-for-like sales was slightly up at +0.4%.

Regarding its full-year 2012 outlook, Schneider Electric believes that the uncertainty surrounding the global economy continues to limit visibility. In this context and assuming no major change in economic conditions, the Group continues to expect flat to slightly positive organic growth for sales and an adjusted EBITA margin between 14% and 15%.

Emmanuel Babeau also reiterated the Group's long term financial targets disclosed at Schneider Electric's recent Investor Day on February 22. The main targets for the Group's performance across the cycle are: average organic sales growth of world GDP + 3 points, adjusted EBITA margin between 13% and 17% and a Return on Capital Employed between 11% and 15%. The Group's dividend payout policy remains 50% payout of net income.

II. Key results of the Annual Meeting vote by shareholders:

The quorum of the assembly was 67.1%. Shareholders approved all of the resolutions recommended by the Management Board, including:

  • Approval of the 2011 financial statements;
  • Payment of a net dividend of €1.70 per share payable on May 16;
  • Conventions and regulatory commitments:
    • modification of the top-hat pension plan applicable to Group senior executives;
    • renewal of certain elements concerning the status of Mr. Jean-Pascal Tricoire, in accordance with the provisions of the TEPA act;
  • Renewal of two financial authorizations for:
    • Share buy-back;
    • Capital increase reserved for employees of non-French subsidiaries of the Group.

The full results of the vote are posted on the Group website www.schneider-electric.com

*******************

The presentation and the replay of the video webcast of the Annual Shareholders' Meeting are available on our website at www.schneider-electric.com/finance

Half-year financial results and second quarter sales will be released on August 1, 2012.

About Schneider Electric
As a global specialist in energy management with operations in more than 100 countries, Schneider Electric offers integrated solutions across multiple market segments, including leadership positions in energy and infrastructure, industrial processes, building automation, and data centres/networks, as well as a broad presence in residential applications. Focused on making energy safe, reliable, and efficient, the company's 130,000 plus employees achieved sales of 22.4 billion euros in 2011, through an active commitment to help individuals and organizations "Make the most of their energy."
www.schneider-electric.com

distributed by
Recommend :
0
React to this article
Latest news on SCHNEIDER ELECTRIC
2d ago SCHNEIDER ELECTRIC : Hot or cold air containment? That's the data centre decisio..
2d ago SCHNEIDER ELECTRIC : appoints Bernhard Klöss to lead its Industry Business in so..
2d ago SCHNEIDER ELECTRIC : Partners ramco for advanced process solutions
3d ago SCHNEIDER ELECTRIC : New Luxury Apartments Coming to Georgetown
4d ago SCHNEIDER ELECTRIC : Pelco IP Cameras Now Utilize March Networks' Command Video ..
6d ago SCHNEIDER ELECTRIC : MILITARY Motional Transducers Sought by Defense Logistics A..
6d ago SCHNEIDER ELECTRIC : Offers Cost-Effective Modernization Solution for Existing D..
7d ago SCHNEIDER ELECTRIC : McAfee in cybersecurity deal
04/10 SCHNEIDER ELECTRIC : committed to cooperation between business and NGOs
04/09 SCHNEIDER ELECTRIC : "Pumpjack Torque Fill Estimation" in Patent Application App..
Advertisement
Chart
Duration : Period :
SCHNEIDER ELECTRIC Technical Analysis Chart | SU | FR0000121972 | 4-Traders
Income Statement Evolution
SCHNEIDER ELECTRIC : Income Statement Evolution
More Financials
Dynamic quotes  
ON
| OFF