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2015 REGISTRATION DOCUMENT SCHNEIDER ELECTRIC8
KEY FIGURES 2015
1,506
2,082
12(4) 13(5)
11 14 15
1,704
2,160 2,045 Free cash fl ow was 2.045 million euros, up +20% due to better
working capital management. Capital expenditure to revenues
ratio declined from 3.3% in 2014 to ~3% in 2015. Working capital
decreased due to strong control over payables and receivables.
Cash conversion remained high at 113%(6 ).
Revenue by geography
18%
Rest of the World
27%
North America
26%
Western Europe
29%
Asia-Pacific
(1) Spot headcount, including employees under fi xed-term and open-ended contracts, on December 31, 2015.
(2 ) 2012 fi gures restated for the applic tion of IAS 19 Revised (pension accounting).
(3 ) 2013 fi gures restated due to the full consolidation of Delixi (previously consolidated proportionally at 50%), CST reclassifi cation in discontinued
operations and other minor changes.
(4 ) 2015 net income adjusted for Invensys integration costs, impact of business disposals, Pelco impairment, and restructuring charges.
All elements net of tax.
(5 ) Cash provided by operating activities less change in working capital less net capital expenditure.
(6 ) Cash conversion based on net income adjusted for business disposals impact and Pelco impairment .
Net income (in millions of euros)
12(2)
1,793
13(3)
1,813
11 14 15
1,941
1,407
1,888 The Group share in net income was 1,407 million euros, down
-28% year-on-year. Adjusted for exceptional items (4 ), net income
was up +6%.
Restructuring charges were 318 million euros, driven by effi ciency
and simplifi cation initiatives. Other operating income and expenses
had a negative impact of 522 million euros, mainly due to capital
losses / asset impairments from the disposals of non-core
businesses.
Invensys had a positive contribution in the decrease of the effective
tax rate from 22.7% in 2014 to c. 21% in 2015.
Free cash flow(5 ) (in millions of euros)
2015 headcount
160,843 employees(1)
20%
Rest of the World
19%
North America
26%
Western Europe
35%
Asia-Pacific