APC 2003 Annual Report Download - page 6
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Key figures
Return to growth
and a high operating margin
4
9.06
8.38 9.70 9.83
1999 2000 20022001 2003
8.78
Consolidated sales
( billion)
Sales rose 1.4% at constant scope of
consolidation and exchange rates thanks to
the initial impact of our growth plans and
the emerging economic recovery.
A highly unfavorable currency effect
stemming from the euro’s appreciation
reduced sales by 7.5%, but was partially
offset by acquisitions, which added 3%.
On a current basis, sales declined by 3.1%.
Gross profit
( million and as % of sales)
1999 2000 20022001 2003
3,717
3,612
4,083 3,950
43.1 % 42.1 %
40.2 %
41.4 %
3,755
42.3 %
In line with NEW2004 targets, the gross
margin widened by 0.9 point in 2003 thanks
to disciplined execution of our efficiency
plans.
Net productivity gains totaled € 131 million.
Excluding the currency effect, the gross
margin exceeded our 2003 target at 42.9%.
1,057
1,298
1,116 1,040
11.5 %
11.4 %11.5 %
12.6 %
13.4 %
1,007
Operating income
( million and as % of sales)
1999 2000 20022001 2003
One of the most profitable companies in
its industry, Schneider Electric maintained
a high operating margin in 2003 despite
declining sales.
The margin was lifted by a noticeable
improvement in North America driven by our
cost-cutting plans. It was negatively affected,
however, in International markets by
the currency effect. Excluding foreign
exchange fluctuations, the operating margin
stood at 13% for the year.
Forefront positions worldwide
Sales by core business
2003
31 %
69 %
Electrical distribution
Automation & Control
Sales by geographic division
2003
20 %
55 %
25 %
Europe
North America
International
Workforce by
geographic division
(Average full-time and temporary employees)
2003
Total: 74,276
14,609
43,151
16,516
Europe
North America
International