The 2020 Mid-Year Economic Update_long

Schneider Electric Sales Down 0.7% in 2Q

Year-to-date sales up 3.2 percent year-over-year.

Schneider Electric, Rueil-Malmaison, France, reported sales for the second quarter of €6.1 billion (US$8.2 billion), down 0.7 percent year-over-year.

"We will continue to focus on execution to drive organic growth, efficiency and smooth integration of acquisitions," said CEO Jean-Pascal Tricoire. "Looking forward, we expect continuous growth of our early cycle businesses, sequential improvements in IT and infrastructure and a strong contribution from Invensys."

For the quarter, buildings & partner organic sales were up 2 percent. Industry sales were up 3.5 percent, while infrastructure sales were down 8.9 percent. IT sales decreased 1.9 percent.

Year-to-date sales were €11.7 billion (US$15.7 billion), up 3.2 percent over the prior-year period. Profit decreased 1 percent to €821 million (US$1.1 billion).

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