APC 2012 Annual Report Download - page 13

2012 REGISTRATION DOCUMENT SCHNEIDER ELECTRIC 11
KEY FIGURES 2012
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2012 in brief
Connect Company Program
On February 22, 2012, the Executive Committee presented the
Group’s strategic ambition, operational priorities and fi nancial
targets under the Connect program for the period 2012 –
2014. The new 3-year plan covering 2012 – 2014 includes four
major initiatives: Connect to Customers, to further improve the
performance of its business models and be a leader in products
and in solutions; Connect Everywhere, to identify key investment
areas in new economies and create new opportunities in mature
countries to be a leader in both mature and new economies;
Connect People, to create a culture and an environment for the
Group’s employees’ development and performance; Connect
for Effi ciency which is a new chapter in the Group’s history of
profi table and responsible growth.
A cquisitions, disposals and financing
External Growth
On May 4, 2012, Schneider Electric announced the signing of
an agreement to acquire M&C Energy Group (“M&C”), a fast-
growing company specialized in energy procurement and
sustainability services for both multinationals and small to medium
sized enterprises. Headquartered in the United Kingdom, M&C
provides its customers with energy procurement, compliance and
performance optimization services mostly on recurring subscription
basis. The company has more than 500 employees including
300energy specialists and an international presence with 21offi ces
across 15countries, particularly in Europe and Asia-Pacifi c.
Venture capital
On November 15, 2012, the European Investment Fund (EIF)
has committed EUR20 million in Aster II, a venture capital fund
managed by Aster Capital. Aster Capital is a Paris-based fund
manager which focuses on early stage Cleantech investments. It
specifi cally targets highly innovative enterprises developing ground-
breaking technologies in the fi elds of energy, new materials and
environment. Aster II has a distinctive set-up which involves three
major industrial corporates acting as sponsors: Schneider Electric,
Alstom and Solvay. EIF’s additional commitment brings Aster II’s
investment capacity to over EUR 105m to support innovation in the
European Cleantech sector.
Bond issues and sale of treasury stock
On September 5, 2012, Schneider Electric announced that
it proceeded with the sale of the stake it holds in AXA, or
10,612,659 shares representing approximately 0.45% of AXA’s
share capital. The proceeds from the sale of the shares amount to
approximately EUR121 million. The disposal was decided following
the joint announcement made with AXA on December 27, 2011 on
the non-renewal of the shareholders’ agreement, which terminated
on May 15, 2012.
On September 21, 2012, Schneider Electric announced that it has
successfully placed its fi rst USD800million bond issue due 2022
in the United States. This bond offering gives Schneider Electric
access to the large US dollar funding sources and further extends
its average debt maturity at favorable market conditions. The
coupon rate for this bond is 2.95percent.
Innovation, partnerships and major contracts
On February 3, 2012, Energy Pool, Europe’s leading demand
response operator and Schneider Electric’s subsidiary, released
600MW of reserve capacity to help the French electricity grid cope
with the surge in demand created by the plummeting temperatures
of recent days. This reserve capacity corresponds to the power
needed to guarantee the electricity supply for the equivalent of the
cities of Nantes and Nice together at peak time.
On July 23, 2012, the Skolkovo Foundation and Schneider Electric
signed an agreement to create a new R&D center in Russia’s Skolkovo
Innovation City. The in-house R&D center, with a workforce of more
than 100employees by 2016, will be working to create an advanced
energy distribution management system for electricity networks,
develop standalone generator control systems and other innovative
solutions. Around 90% of the company’s staff at the R&D center will
be research personnel.