(MT Newswires) - Schneider Electric CEO Peter Herweck has announced that fourth-quarter sales came in at €9.48 billion, below the company's stated forecast of €9.6 billion. However, Herweck remains positive for the future, forecasting organic growth of 6-8% for 2024, accompanied by a 40-60 basis point increase in margins. 
 
The company sees marked growth in the data centre sector, which now accounts for 21% of the group's exposure, up from 19% in 2022. Schneider Electric is incorporating artificial intelligence as a key driver of this growth. The strategy in China, based on adapting to the local market, seems to be bearing fruit, with Schneider anticipating continued growth in China in 2024.
 
As regards the energy transition, Herweck mentions the real possibility of reducing CO2 emissions in buildings, infrastructure and industry by up to 70% using modern technologies. Some Schneider customers have seen a return on investment in less than 3 years. Schneider Electric is positioning itself as a key player in the advancement of energy efficiency and decarbonisation.

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