schneider elect se-unsp adr (SBGSY) Key Developments
Schneider Electric Announces Successful Issue of €800 Million Bond
Sep 3 15
Schneider Electric launched a €800 million EMTN (Euro Medium Term Note) issue maturing in 8 years with a fixed coupon rate of 1.5%. This transaction enables the Group to increase its debt maturity profile with favorable financial conditions.
Cummins and Schneider Electric Create Corporate Responsibility Partnership to Improve Global Communities
Aug 4 15
Representatives from Cummins Inc. and Schneider Electric signed a joint declaration July 30, 2015 to partner on community improvement projects across the globe. This partnership will improve how Cummins provides resources and engages employees in corporate responsibility projects around the globe. Working together, Cummins and Schneider Electric can use global footprint, and the strength of employee's skills, to drive even greater change in communities. Both companies have a long history of strengthening communities in the areas where they operate. This dedication to local communities is continuing through a new corporate responsibility partnership. The agreement will improve how both organizations address environmental challenges, promote technical education and support equal opportunities for all. Cummins and Schneider Electric partnered earlier on Cummins' Technical Education for Communities (TEC) program. TEC is a coalition-based vocational education program designed to increase access to good jobs. Schneider Electric and Cummins have collaborated at the Turkey TEC site since 2014. As part of the partnership, the organizations supply equipment, develop curriculum and provide workplace learning opportunities for students. They also will help hire TEC graduates to fill open technician positions in those markets. In addition to TEC, the two organizations plan to collaborate on Schneider Electric's Access to Energy program, which aims to spread access to reliable, affordable and clean energy. There are also plans to work together on Power to Prosper, a Cummins initiative to develop and scale electrification models that reduce barriers to economic growth in economically troubled communities. Both companies hope this global collaboration agreement will provide a framework for future partnerships models that provide more opportunities for employees around the world to participate in projects that improve their local communities.
Schneider Electric's Uniflair LE Room Cooling Series Receives Department of Energy's Certification for Energy Efficiency
Jul 29 15
Schneider Electric announced the Schneider Electric Uniflair™ LE Room Cooling series of solutions has received the Department of Energy's (DOE) certification for energy efficiency. In a continued commitment to energy efficiency in the data center environment, Schneider Electric's Uniflair LE was designed to offer any data center environment a sustainable cooling solution and received DOE certification under the new standards that encourage the deployment of green technologies. Schneider Electric is committed to providing products that meet DOE requirements, and in turn, the same guidelines held by the California Energy Commission (CEC), based on the "Appliance Efficiency Standards" from the DOE. With the utilization of highly efficient electronically commutated (EC) fans, intelligent controls and optimization during part-load operation, the Uniflair LE exceeds new and future energy standards. By combining cutting-edge technology to optimize energy and environmental sustainability, the Uniflair LE perimeter units provide efficient cooling for any data center environment, with a low cost of ownership through economization and smart operation, all while maintaining a compact footprint. Additionally, the Uniflair LE Precision Cooling units are completely configurable to meet and adapt to any application for continuous and reliable operation.
Schneider Electric Reports Revenue Results for the Second Quarter and Consolidated Earnings Results for the Six Months Ended June 30, 2015; Provides Earnings Guidance for 2015
Jul 29 15
Schneider Electric reported consolidated earnings results for the six months and consolidated revenue results for the second quarter ended June 30, 2015. For the quarter, revenues were €6,852 million, up 0.1% on reported basis.
For six months, the company’s revenue was €12,848 million compared to €11,700 million reported a year ago. Adjusted EBITA was €1,601 million compared to €1,504 million reported a year ago. EBITA was €1,368 million compared to €1,376 million reported a year ago. Net income (Group share) was €719 million compared to €821 million reported a year ago. Adjusted net income was €912 million compared to €879 million reported a year ago. Free cash flow was €216 million compared to €179 million reported a year ago. It included net capital expenditure of €382 million, representing 3.0% of revenues. Net debt amounted to €6,468 million compared to €6,547 million at the end of June 30, 2015. Adjusted EBITA margin at 12.5%, down 0.4 point versus 2014. The key drivers contributing to the earnings change were the following volume impact was negative €45 million in the first half and insistent execution of tailored supply chain initiatives contributed €151 million in the first half. Good contribution from supplier negotiation and industrial footprint optimization was partially offset by lower fixed cost absorption due to negative volume.
The group targets for the year 2015, around flat organic growth in revenues and a significant growth in adjusted EBITA at current FX rates, and a stable to moderate decline in adjusted EBITA margin versus 2014. For the full year the restructuring costs are expected to be in range of €300 million to €350 million, higher than previous years, attributed to SFC improvement initiatives.
Langa Group Selects Schneider Electric and Saft for Two New Solar Power Plants with Energy Storage in Corsica
Jul 23 15
Schneider Electric and Saft win two projects from Langa Group for the installation of energy storage systems for two solar power plants in Corsica (France). Langa's new solar power plants will be based near Corte and Castifao, on the French island of Corsica. With a nominal solar power of 1 MWp and a storage capacity of 1 MWh, each plant will produce more than 1,300 MWh per year, in compliance with the CRE specifications. Schneider Electric and Saft partnered to meet Langa's requirements on those two projects. The consortium proposed a solution including the design, supply and installation of the equipment, management system, and the maintenance services. Leader of the consortium, Schneider Electric will implement its solutions dedicated to storage and solar energy: PVBox for solar power conversion, ESBox for battery power conversion, Energy Management System (EMS) for global equipment management and control of Saft batteries, project engineering and services to guarantee the system performance. Schneider Electric is also in charge of the interconnection between the various components of the plants, and with the electric distribution network. Schneider Electric developed and industrialized an offer for energy storage and its coupling with renewable energy production assets, and supports its customers projects with expert engineering and services teams. For each project, Saft will deploy its energy storage solution Intensium® Max+ 20E. This integrated solution is fully developed and manufactured by Saft, and composed of a lithium-ion (Li-ion) battery of around 1 MWh in a 20 foot container. The container also includes the thermal and safety management systems, as well as the operational battery management through a BMS (Battery Management System), the interface with the Schneider Electric control system. Saft supports its customers during their projects lifecycle, reaching from early optimization of storage system sizing to maintenance services once the installation is completed. The Langa project comes in a series of contracts won by Saft for Li-ion storage systems for island grids around the world. The contract was signed in June between Langa and the Schneider Electric - Saft consortium, and the two installations will be grid connected by the end of the year 2015.