PARIS, April 24 Electrical gear maker Schneider
Electric reported a 7.7 percent rise in first-quarter
sales on Thursday, as business in Western Europe improved
sequentially and continued to grow in the double digits in
Quarterly sales rose to 5.67 billion euros ($7.84 billion),
up 2.5 percent on an organic basis.
The group, whose products help utilities distribute
electricity and which makes automation systems for the car and
water treatment industries, confirmed its full-year targets.
It expects adverse currency effects to cut 900 million to 1
billion euros off sales and 0.4 percentage points off earnings
growth this year, with most of the impact concentrated in the
The depreciation against the euro of several key currencies,
mainly the US dollar, Australian dollar, Indian rupee, Brazilian
real and Russian rouble cut 5.2 percentage points, or 268
million euros off sales growth in the quarter, Schneider said.
"Looking ahead, we will continue to focus on organic growth
and efficiency to increase returns, while delivering strong
cash", Chief Executive Jean-Pascal Tricoire said in a statement.
(Reporting by Natalie Huet; Editing by Andrew Callus)