APC 2012 Annual Report Download - page 159

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2012 REGISTRATION DOCUMENT SCHNEIDER ELECTRIC 157
BUSINESS REVIEW
4
OUTLOOK
>
3. Review of the parent company
Schneider Electric SA posted total portfolio revenues of
EUR372 million in 2012 compared with EUR1,436 million the
previous year. Schneider Electric Industries SAS, the main
subsidiary, paid dividends of EUR300million in2012 compared with
EUR1,300million in2011. Interest expense net of interest income
amounted to EUR151 million versus EUR84million the year before.
Current income amounted to EUR207million in2012 compared to
EUR1,336million in2011.
On December30, 2011, Schneider ElectricSA invoiced Schneider
Electric IndustriesSAS a fi nancial compensation for the use of the
trademark Schneider Electric for EUR1.2billion.
Net profi t stood at EUR225million compared with EUR2,604million
in2011.
Equity before appropriation of net profi t amounted to
EUR11,229million at December31, 2012 versus EUR11,701million
at the previous year-end, after taking into account 2012 profi t,
dividend payments of EUR919 million and share issues in an
amount of EUR222million.
Schneider ElectricSA issued in September2012 a USD800million
bond due 2022 in the United States, by way of a private placement
to institutional investors only (including to qualifi ed institutional
buyers in the United States) at 2.95% fi xed rate.
financial statements
>
4. Review of subsidiaries
Schneider Electric IndustriesSAS
Revenue totaled EUR3.6billion in2012 same as in2011.
The subsidiary posted an operating loss of EUR69million in2012 compared with an operating loss of EUR88million in2011.
Net profi t amounted to EUR1,061 million in2012 compared with EUR992million in2011.
>
5. Outlook
Schneider Electric expects the economic environment to remain mixed in 2013 with continued challenges in Western Europe, opportunities
for acceleration in the new economies and a slow recovery in North America.
Based on current market conditions, the Group targets a low-single digit organic growth in revenues and a stable to slightly up adjusted
EBITA margin for the year 2013.