By Nathan Allen
Schneider Electric SE (SU.FR) said Thursday that revenue rose in the first quarter, driven by strong growth at its energy-management business.
The French electrical-equipment and automation provider said revenue rose to 6.31 billion euros ($7.13 billion) from EUR5.80 billion a year earlier.
Analysts had predicted revenue of EUR6.17 billion, according to a FactSet-compiled consensus.
The group's energy-management unit posted organic growth of 7.1%, driven by double-digit growth in the U.S., while its industrial-automation grew by 2.3%.
Currency fluctuations in Schneider's favor contributed around EUR116 million to revenue in the quarter, primarily due to the strengthening of the dollar against the euro, the company said.
The group confirmed its guidance for earnings before interest and amortization to grow between 4% and 7% in 2019.
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