Connect - Schneider Electric

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MESSAGE FROM JEAN-PASCAL TRICOIRE PRESIDENT AND CEO > Message from 2011 was a defi ning year for Schneider Electric, a year characterised by strong growth, reactivity to many unexpected external events, an intense deployment of our strategy and the successful closing of the One company programme. First of all, 2011 was an incredibly busy and meaningful year from an operational point of view. We generated robust organic growth, at 8.3%, reported 14% total growth and changed size. For the fi rst time, our sales exceeded the EUR 22 billion mark. This translated into record profi ts and strong cash generation, particularly in the second half, achieved despite unprecedented headwind of raw material infl ation, major disruptions of our supply chain following the tsunami in Japan, the welcomed but faster than expected take-off of solutions in our business portfolio, and the weakening of Europe. We reacted to those events swiftly, proved once again our pricing power, the fl exibility and reactivity of our supply chain, the resilience of our cash generation, while developing our S olution business in an aggressive but controlled manner. 2011 performance allows us to propose to our shareholders a dividend of EUR 1.70, which represents a payout of 50% of net income. 2011 was also characterized by an intense deployment of our strategy. We realized strategic investments for organic growth in new economies and solutions. As a result, our presence in new economies grew to about 40% of sales and our solution business to 37% of sales. These growth engines grew three times faster than mature countries and two times faster than products respectively. Our solutions business has been supported by the successful launch of our integrated hardware and software architecture of effi ciency, EcoStruxure. In 2012, we’ll leverage this key differentiator by releasing our associated core software suite, StruxureWare. This way, we shall provide our customers a radical innovation in the way they design, commission and operate their business while addressing their effi ciency issues. In new economies, the success refl ects our continuous effort to grow our commercial presence everywhere, to go deeper into the countries, to nurture partnerships and develop offerings totally adapted to the needs of local markets. 2 2011 REGISTRATION DOCUMENT SCHNEIDER ELECTRIC Jean- Pascal Tricoire PRESIDENT AND CEO We also accelerated the deployment of our strategy by making targeted acquisitions in line with our strategic priorities: develop solutions, grow in new economies and secure market leadership. We completed a few strategic acquisitions in new economies, allowing us to double our size in India, gain signifi cant presence in Brazil and expand our coverage in China. By business , we boosted our expertise in solutions and services, especially with the acquisition of Telvent. We have put in place dedicated teams to execute integration with discipline, building on our proven capabilities to welcome new people & technologies in our Group. We fi nalized the construction of a new world leading business in our portfolio, Infrastructure, by integrating the Distribution branch of Areva into Schneider Electric medium voltage division and by acquiring Telvent. Telvent marks a major step of our development in energy management and brings needed capabilities in the fi eld of smart cities, smart grid, critical infrastructure and software. Our new infrastructure business is already a world leader in its fi eld, delivering high synergies and very promising operating results in its fi rst year of integration in Schneider Electric. We also kept progressing on the development of solutions to save energy and carbon, and to reinforce our Corporate Social Responsibility commitment. We continued to promote the principles of the UN Global Compact within our company and with our suppliers. Our Planet & Society Barometer performance has exceeded its three- year target. Our BipBop programme towards access to energy has enabled us to connect a million households to electricity and train 12,000 underprivileged people in energy management related trades. In the frame of BipBop, we have also launched an impact-investment fund to support local entrepreneurs around energy activities. Our commitment has been recognised by many awards and presence in large sustainability rankings. We were honoured to receive such prestigious awards as the Gigaton Award, the Zayed Future Energy Prize and the Human Capital Trophy. We were also very pleased to be part of the Dow Jones Sustainability Index World, the Carbon Disclosure Project and the Top 100 most sustainable companies in the world. We are very proud of these
distinctions that are both an achievement and an encouragement to keep on doing better. 2011 was also the year we ended our three-year company programme One. One has been an unprecedented transformation for Schneider Electric and has laid extremely solid foundations for our future development. In three years, we changed size, we built our identity around one brand, we organized our company around customer segments and, we organized our Group as one integrated team where our employees can develop on a larger scale. We also reached our targets of effi ciency improvement compared to 2008. One has been the enabler of the acceleration of our strategy execution and the catalyser of robust fi nancial performance through a historical economic downturn. Beginning 2012, we launched our new company programme, Connect, which defi nes our key action plans for the next three years. Connect builds on the fundamentals and successes of One. This programme covers four major initiatives, which will allow the Group to attain new levels of performance. Connect to Customers will improve the performance of our business models to become a leader in Products and Solutions. Connect Everywhere will push our advantage in new economies and create new opportunities in mature markets. Connect People will create a culture and an MESSAGE FROM JEAN-PASCAL TRICOIRE PRESIDENT AND CEO environment of development and performance through training, diversity, cross-business mobility, empowerment and increased engagement in corporate social responsibility. Connect for Effi ciency aims at extracting superior effi ciency from the transformation to One Schneider Electric. Schneider Electric is well geared to face the uncertainties surrounding the global economy in 2012. We can rely on our strong growth engines and strong fundamentals to develop and go further: an undisputed leadership in our partner business, our fast growing solution business, our well-balanced geographical exposure, our diversifi ed end-market coverage using the same set of integrated technologies and systems. We shall benefi t from all the work we made on our organization to integrate our teams and focus on customer segments. We shall also benefi t from the new level of operational effi ciency we reached. Schneider Electric is in an exceptional position to keep exploring the new frontiers of energy management technologies; seize new business opportunities offered by energy effi ciency, smart grid and smart cities; and offer the most advanced technologies of effi ciency for the sustainability of our planet development. 2011 REGISTRATION DOCUMENT SCHNEIDER ELECTRIC 3
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Schneider Electric SA Headquarters:
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