Schneider Electric: Annual Shareholders’ Meeting on April 21, 2008
Rueil Malmaison - April 22, 2008 – Schneider Electric shareholders met in Annual and Extraordinary Meeting yesterday, primarily to hear the reports of the Management Board and Supervisory Board and approve the financial statements for 2007. The Meeting was chaired by Henri Lachmann, Chairman of the Supervisory Board.
Jean-Pascal Tricoire, Chairman of the Management Board and CEO, recalled that 2007 was a key year of transformation highlighted by:
- A significant increase in earnings and acceleration in H2
Shareholders approved all of the resolutions recommended by the Management Board, which concerned:
- Approval of the 2007 financial statements,
The quorum was 56.5% and the resolutions were adopted with a majority vote of between 88.2% and 99.9%. The results of the voting are posted on the website www.schneider-electric.com
The good performances of Schneider Electric are fuelled by two engines for growth: broad exposure in emerging countries and unique positioning in energy efficiency. Thanks to the development of targeted solutions for attractive verticals such as data centres, water treatment and hospitals, the Group now generates close to 60% of its sales in markets supported by healthy growth drivers.
Assuming current economic conditions, Schneider Electric confirms its targets for organic sales growth of between 6% and 8% and an EBITA margin of 15% for full-year 2008.
The presentation made to the Shareholders’ Meeting and the video webcast replay is now available:
Schneider Electric half-year financial results and second-quarter sales will be released on August 1, 2008.
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