Continued strong performance in H1 2019: Revenues up +5% organic with all regions growing and Adj. EBITA up +11% organic. Strong free cashflow. Full year target upgraded
- H1 revenues up +5.4% organic
- Software up double-digit; Services up +8% org. in H1
- H1 Adj. EBITA €1,960m, up +10.9% org; 14.8% margin up +70bps org
- H1 Adj. Net Income €1,255m, up +10%
- Strong growth in Energy Management, up +7.0% org. in H1; Industrial Automation up c.+1% 1 org. in H1 - short-cycle demand slowing, process & hybrid positively oriented
- Further progress in portfolio optimization
- 2019 target upgraded
Jean-Pascal Tricoire, Chairman and CEO, commented:
“In H1 2019 we continue to deliver strong performance on sales and on margin, with revenues up in excess of +5% organic, adjusted EBITA growing by +11% organic and strong free cashflow. Our performance is a result of executing our clear and consistent strategy of more products, more services, more software and better systems, across our two synergetic businesses of Energy Management and Industrial Automation. We continue to focus on operational execution and on our digital journey, providing compelling solutions powered by EcoStruxure.
In H1 2019 we make progress on our portfolio optimization initiative to focus on the core. We receive the formal CCI approval from the Indian authorities for our acquisition of Larsen & Toubro Electrical and Automation business, which we expect to close in the next several months. We continue to work on our target of €1.5 - €2.0 billion of revenues to be reviewed over the period 2019-2021, completing the disposal of Pelco and U.S. panels in H1.
In H2 2019, the Group expects to continue delivering organic growth in revenues, benefitting from our balanced exposure across geographies and portfolio of offers across the economic cycle. Following the strong H1, we upgrade our target for 2019.”
To find out more, the replay of the recorded webcast by Top Management is available by clicking here