Schneider Electric reported record first-quarter sales on Thursday, ahead of analysts' expectations, thanks in particular to strong growth in energy management systems.

Its sales for the first three months of the year totaled 8.6 billion euros, up 1.3% on a reported basis and with organic growth of 5.3%.

By way of comparison, the consensus was for organic growth of 4.5%.

"We have entered 2024 with strong demand dynamics in most sectors and geographical areas, particularly in the data center and infrastructure sectors", commented CEO Peter Herweck.

The systems business - which accounts for 28% of sales - posted organic growth of 14% in the first three months of the year. - posted organic growth of 14% in the first quarter, with double-digit sales growth in energy management.

In its press release, the Group said it was benefiting from continuing strong demand in the data center and infrastructure markets.

Schneider also reaffirmed its targets for 2024, while noting that it expected a strong contribution from the second half of the year.

Organic sales growth is still expected to be in the range of 6% to 8%, with an organic increase in adjusted Ebita margin of between 40 and 60 basis points.

The share price gained around 0.3% after this publication, which nevertheless placed it among the CAC 40 index's biggest risers at the start of the session.

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