2018 Half Year Results – July 26, 2018
- Q2 Revenues up c.+8%: All businesses and regions growing
- Energy Management and Industrial Automation deliver strong organic growth, up c.+8%1 and c.+11% in Q2 respectively
- All business operational results improving
- H1 adj. EBITA €1,769m, c.+11% org; 14.4% margin up +50bps org.
- H1 Net Income €1,020m, up +7%
- FY adj. EBITA organic growth target upgraded
Jean-Pascal Tricoire, Chairman and CEO, commented:
“In Q2, we accelerate both in growth and performance, with revenues up c. +8% organic, bringing our H1 2018 organic growth to +7% and H1 adjusted EBITA organic growth to a strong +11%. Our focused and synergetic portfolio continues to gain share, benefitting both our core businesses of Energy Management and Industrial Automation, which record strong growth in Q2, respectively at c.+8%1 and c.+11%. Both businesses combine to provide full solutions of energy and process efficiency, and generate solid and increasing traction for our EcoStruxure platform. We also continue to focus and invest on furthering our digital journey.
We keep working on our portfolio and announce the agreement, in partnership with Temasek, to acquire L&T E&A business in India. In addition, we reinforce our presence in Software with the finalization of the AVEVA transaction in our Industrial Automation business, and the closing of IGE+XAO in our Energy Management business.
In H2 2018, the Group expects to benefit from its balanced exposure to end-markets and geographies. We keep focusing our efforts on driving our strategy of selling more products, more services, more software; and we keep developing our strong value proposition to customers, bringing together our synergetic portfolio into EcoStruxure. Consequently, we upgrade our Adjusted EBITA organic growth objective for 2018; now expected between +7% and +9%."
Webcast replay available here on July 26th, from 4 pm (CET) until October 15th, 2018