PARIS Oct 25 France's Schneider Electric
posted slower quarterly organic growth and lowered its
full-year forecasts on Friday, blaming adverse currency moves, a
weak Europe and timing uncertainties over the integration of
The electrical equipment maker reported third-quarter sales
of 5.9 billion euros ($8.1 billion), down 3.2 percent from a
year earlier. Organic revenue rose 0.7 percent, a slowdown from
2.6 percent in the second quarter.
For the full year, Schneider said it now expected
stable-to-limited organic revenue growth. In July, it had
forecast low single-digit percentage growth.
"The adverse evolution of foreign currencies, especially in
Asia-Pacific ... is expected to have a negative impact" of 0.3
to 0.5 percentage points on its adjusted EBITA (earnings before
interest, tax and amortisation) margin at current rates,
The company, whose products help utilities distribute
electricity and which makes automation systems for the car and
water treatment industries, earlier this year agreed the $5.2
billion takeover of UK engineer Invensys.
"Timeline uncertainties imply an impact on results starting
in 2013 or in 2014," Schneider said, referring to the