The company also upgraded its full-year core profit margin target to 15.1%-15.4% from 14.5%-15.0% previously, and confirmed its aim to increase this to around 17% by 2022
French electrical equipment group
Schneider, whose products range from electrical car chargers to industrial robotics, now expects revenue to fall 5%-7% this year, compared with a slide of 7%-10% it forecast in July, lifting it above a company-provided analysts' consensus forecast. The company also upgraded its full-year core profit margin target to 15.1%-15.4% from 14.5%-15.0% previously, and confirmed its aim to increase this to around 17% by 2022.
Schneider's quarterly revenue has risen for the first time this year, compared with 2019, helped by its energy management division - which serves buildings, data centres and infrastructure, and posted growth across all its regions.
In a call with Reuters, finance chief
She also noted activities restarting in industrial and commercial buildings.
Schneider's third-quarter revenue stood at
"The crisis has reinforced our customer's agenda for sustainability and digitisation, both areas where Schneider has focused its strategy," Chief Executive Officer
Maxson noted a big uptick in Schneider's digital services, which are mostly oriented around efficiency, as well as a big opportunity in infrastructure to support a massive electrification of vehicles.
While the company flagged uncertainty for the coming quarter as COVID-19 cases resurge, Schneider believes the second quarter represented the trough in its sales.
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