China at the heart of the Schneider Electric General Assembly, Instructions and Protocols AG

At the opening of his general meeting of shareholders, the chairman and CEO of Schneider Electric Jean-Pascal Triquard reminded the shareholders “ he was pleased to meet them in person after two years of distance “. He obviously returned to the historical figures of the supplier of electrical equipment last year. The president called the training.” links because they reach historical highs ” with a turnover of 29 billion euros and a net result that doubled.

Expected on this topic by shareholders, the manager expressed his vision of instability, which characterizes the current context. The first problem, obviously, is the war in Ukraine, which Mr. Trikuar wanted to calm down. He assured ” support 500 employees associated with the group “, of more than 2.5 million euros to protect them. He also reminded of the goal restore energy supply in the country “, Which logically faces complications since the beginning of the war. In Russia, the company’s priority is ” transfer operations [dans le pays] to the local management team “Which involves a depreciation of 300 million euros in his accounts. The president also returned to a shortage of supplies, especially components. In this regard, the group intends to adopt a more regional strategy, deepening relations with its suppliers, because ” when logistical difficulties arise, they are easier to manage on the spot “.

China was clearly worried about shareholders. Schneider’s short- and medium-term prospects in the region were raised, including the planned containment in Beijing and restrictions in Shanghai. Jean-Philippe Triquard reminded that the geographical area was very important. ” as this is the second country of the company in terms of business behind the United States “He stressed the sanitary cuts that are to take place in Shanghai during May. Schneider Electric should take advantage of these easing.” because the group is on the white list of authorities, so it enjoys a good reputation and thus may be one of the first to restart its plants “. The quarter there will be negative, but the chairman and CEO is counting on” growing China in 2022 In addition to health, the long-term decline in China’s demographics was also discussed in the long run, to which Mr Triquar replied: “ The country has a fast-growing middle class, and half of China’s population still does not have access to the development that began in the 1980s. This is a phenomenal potential for Schneider, which largely offsets demographic challenges. “.

Steady growth

The complex context today does not affect the growth ambitions of the electrical equipment manufacturer, always in line with its environmental commitments. The head specifies that it is necessary to go three times faster and three times stronger if we want to achieve the environmental goal of 1.5 degrees warming.

Thus, the group intends to contribute to the development of the ecological transition by focusing its response on three factors. First accelerate the digital upgrade, then eliminate combustion by ” electrification multiplied by three And, finally, the decarbonisation of energy and the use of renewable sources such as hydroelectricity or wind energy. Responding to this topic, the President also confirmed that in the current rise in energy prices ” this electrification was no longer a choice, and the current crisis acts as a fair accelerator of what we should have done a long time ago. “.

Confirmed goals

This meeting was an opportunity to discuss the group’s forecasts after a very good start to the year. Business growth was 10%, to 7.6 billion euros at the end of March. CFO Hillary Maxon also predicts an increase in demand in 2022 for both areas of business.

The rest of the predictions confirmed earlier are confirmed. Schneider Electric still expects that between 2022 and 2024, operations will grow in the range of 5% to 8% per year. The company is also considering increasing its gross operating surplus (Ebitda) by 30-70 basis points per year. In the long run, the CFO reminded increase goals through a combination of activities and operational leverage “, which would lead to an increase of more than 5% per year.

Place for the voting results that have now been made public. 99.83% voted for the dividend of 2.90 euros. The payment of salaries of the Chairman and the Chief Executive Officer for 2021 received 84.81% of the vote. The previous award for the following years was voted with a slightly higher score – 89.81% of the vote.