The following is a summary of the Schneider Electric SE (SBGSF) Q1 2024 Earnings Call Transcript:

Financial Performance:

• Schneider Electric reported a strong Q1 2024 with sales reaching EUR 8.6 billion, indicating a 5.3% revenue growth.

• Growth was primarily driven by the Energy Management segment, showcasing good diversification across business models and geographies.

• The Software services segment grew by 5%, with Annual Recurring Revenue (ARR) growth at AVEVA at 13%. The company projects 15%+ growth by year-end.

• The company foresees an organic growth of 8% to 12% in its adjusted EBITA for full year 2024, as stated in their guidance.

• Despite a profitable quarter, the company experienced timing impacts on Q1 profitability due to year-end realignments with AVEVA.

Business Progress:

• Schneider Electric continued progress on its Capital Markets Day strategies, particularly in the Energy Management sector, with notable solid growth in distributed IT.

• Schneider Electric launched several operational initiatives and made noteworthy collaborations with Digital Realty and a large water utility.

• The company made commendable strides with the EcoStruxure Automation Experts platform, aiming to leverage software layer for enhanced collaboration and direction.

• A potential strategic transaction with Bentley Systems is under discussion, indicating possible further expansion of Schneider's portfolio as part of the One Software strategy.

• In terms of sustainability, Schneider Electric is making good progress towards its goal of a score target of 7.4 for 2025.

More details: SCHNEIDER ELECTRIC SE IR

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