First Quarter Revenues 2026

Schneider Electric First Quarter 2026 Revenues

Financial Information

Strong start to FY26; Q1 revenues up +11% organic Full Year Target reaffirmed

Rueil-Malmaison (France), April 30, 2026

Financial Highlights

• Record Q1 Revenues of €9.8 billion, up +11.2% organic:
  • Energy Management up +12.8% organic; led by strength in Data Center
  • Industrial Automation up +4.4% organic; with continuation of recovery in Discrete
• Growth led by North America up +14.4% org. and China & East Asia up +14.2% org.
• Strong growth across all business models, led by Systems +16%
• Sustainability Impact 2030 program underway
• 2026 Target reaffirmed

Olivier Blum, Chief Executive Officer, commented:

“We made a strong start to 2026, delivering double-digit organic sales growth in the first quarter, reflecting the disciplined execution of our teams worldwide, with all regions contributing to growth. Growth was led by our Systems business, and we delivered a strong improvement in Product sales, supported by both higher volumes and a positive contribution from pricing.

In Energy Management, Data Centers remained the main growth driver, alongside strong growth in Power & Grid among solid contributions across the other end‑markets. In Industrial Automation, the recovery in Discrete automation continued to progress, while we expect Process industries to contribute more meaningfully to growth later in the year.

The fundamentals underpinning our markets remain strong, even if recent macroeconomic and geopolitical developments have increased uncertainty. The energy transition is now increasingly central to energy security and sovereignty, further accelerating the existing structural growth drivers of electrification, alongside the rapid adoption of digital and AI-enabled technologies across Energy and Industrial Intelligence. We are Advancing Energy Tech from a position of strength, supported by a balanced global footprint and a resilient, multi‑hub operating model, which allow us to remain agile in this more uncertain environment. Against this backdrop, we reaffirm our financial target for 2026.”

I. FIRST QUARTER REVENUES WERE UP +11% ORGANIC

2026 Q1 revenues were €9,767 million, up +11.2% organic and up +4.7% on a reported basis.

Q1 2026 PERFORMANCE BY BUSINESS MODEL

Products (48% of Q1 revenues) grew +9% organic in Q1. The majority of growth came from volume, while price also contributed positively in Q1 and is expected to ramp-up through the year. Product revenues grew double-digit in Energy Management, with strong growth in electrical power distribution across multiple end‑markets. Product revenues in Industrial Automation were up mid-single digit with growth in many product categories and across most regions, led by China & East Asia, as Discrete automation continued to show a steady recovery in Q1.

Systems (33% of Q1 revenues) grew +16% organic in Q1. Energy Management saw double-digit growth with contributions across end-markets, led by Data Center, which saw strong sales across the Group’s complete offer, including traditional cooling technologies and prefabricated solutions. Industrial Automation systems sales grew low-single digit. Discrete automation markets saw good growth with packaging OEMs in Europe; while there was also good growth in medium voltage drives, globally. Process & Hybrid automation markets were down due to weaker demand in the first half of 2025, with improved demand in the second half of 2025 not yet reflected in sales growth due to the longer-cycle nature of this business.

Software & Services (19% of Q1 revenues) grew +9% organic in Q1, of which Software & Digital Services (8% of Q1 revenues) grew +8% organic and Field Services (11% of Q1 revenues) grew +9% organic.

Agnostic Software (comprising AVEVA, ETAP and RIB Software)

AVEVA delivered good growth in Annualized Recurring Revenue (ARR), up +12% as of March 31, 2026 led by a strong upsell to existing customers and contributions from new logos. High-single digit organic growth was driven by strength in cloud-based SaaS and with good contribution from on-premise rental, while perpetual license revenues declined as expected as AVEVA continues its successful transition to a subscription model. Segments contributing to growth in the quarter included Power & Grid (P&G), Transportation, Energy & Chemicals (E&C) and sales through distribution channels.

Energy Management agnostic software offers (ETAP and RIB Software) delivered low-single digit organic sales growth. The Group’s eCAD offer (ETAP) delivered good growth overall, where strong growth in multi-year on-premise subscriptions more than offset the decline, as expected, in perpetual license and other non-recurring fee types. The Group’s software offer for the construction market (RIB Software), was around flat reflecting the strategic shift towards recurring revenue streams, with strong growth in cloud-based and on-premise subscription, while non-recurring revenue streams declined.

Services (comprising Digital and Field Services offers) grew high-single digit organic in Q1

Field Services grew +9% organic in Q1, with double-digit growth in Energy Management and low-single digit growth in Industrial Automation. In Energy Management, growth was led by the Data Center end‑market, where the Group saw strong improvement in attach-rates, capturing demand across the lifecycle, from commissioning to modernization and maintenance, with a focus on driving recurring revenues.

Digital Services delivered high-single digit organic growth in Q1 driven by offers for Grid customers, strong growth in EcoStruxure advisors, improved performance in sustainability advisory offers against a low base of comparison, and strong performance in Cybersecurity.

Q1 2026 PERFORMANCE BY END-MARKET

Schneider Electric sells its integrated portfolio into four end-markets: Data Center & Networks, Buildings, Industry and Infrastructure, leveraging the unique combination of Energy Management and Industrial Automation complementary offers and technologies supported by the focus on electrification, automation and digitalization to enable a sustainable future.

• Data Center & Networks – The Data Center & Networks end-market continues to see sustained high demand, up double-digit in Q1 despite a high base of comparison. In the pure Data Center segment, demand was up double-digit, reflective of both the sustained strong momentum in the segment, which continued in Q1, and a single, particularly large order booked in Q1’25, impacting the base of comparison. The Group saw broad uptake across its end-to-end offering as customers continued to scale AI-ready infrastructure, alongside growth in traditional architectures, across geographies. North America continued to represent the majority of demand, but with strong demand growth recorded in other regions. Sales in Data Center & Networks grew strong double‑digit in the quarter, driven by the pure Data Center segment, while Distributed IT sales were up low-single digit, in-line with the demand trend in the segment.
• Buildings – The Buildings end-market saw strong demand in the quarter, while sales increased more modestly. Demand strength was driven by the Non-residential buildings segment, supported by good activity across technical building categories including Public Access & Public Administration buildings, Retail chains and Healthcare, driven by ongoing investments in modernization, building management systems, and power management solutions. The Residential buildings segment saw positive demand, driven by improvements in Europe and India, while the market in China and the U.S. remained weak, with macroeconomic and interest-rate uncertainty weighing on consumer sentiment.
• Industry – Demand in the Industry end‑market was strong overall, with positive momentum across both Discrete automation and Process & Hybrid segments. In Discrete industries, demand was driven by Industrial manufacturing, reflecting a continued recovery on a broad geographic base, including the U.S., India, Europe, and China, while demand in the Middle East declined. Sales into Discrete automation markets showed good growth in the quarter. In Process & Hybrid industries, demand was strong, led by the Semiconductor segment, supported by the E&C and Metals, Mining & Minerals (MMM) segments, with customers continuing to invest, notably in the U.S., East Asia, and Middle East & Africa. Sales into Process & Hybrid markets declined slightly, impacted by weaker demand in the first half of 2025.
• Infrastructure – Demand in the Infrastructure end-market remained strong, led by the P&G segment, with electrification momentum driving a need for digitalization and flexibility to ease grid congestion and aid the integration of renewable power generation across multiple geographies. The Group continues to benefit from its comprehensive portfolio, including digital solutions and SF₆-free technologies. Water & Wastewater (WWW) saw good demand, while in Transportation demand was slightly down. Sales growth in the end-market was strong during the quarter driven by the P&G segment.

Q1 2026 PERFORMANCE BY BUSINESS AND GEOGRAPHY

The breakdown of revenue by business and geography was as follows:

North America (38% of Q1 revenues) grew +14.4% organic in Q1.

Energy Management grew +15.9% organic, against a multi-year, double-digit base of comparison. The U.S. delivered strong growth, up double-digit, primarily driven by volume while price actions contributed in the quarter. Growth in the U.S. was led by the Data Center end-market, where the Group continues to benefit from its complete portfolio of offers, including strong growth in liquid cooling. Within the Infrastructure end-market, performance was contrasted between growth in the P&G segment, while Transportation declined against a high base of comparison due to project execution in Q1’25. Sales into the Industry end-market were around flat, while the Buildings end-market was down. Canada grew double-digit, led by strength in the Data Center and Infrastructure end-markets, while the Industry and Buildings end-markets were down. Mexico was down sharply against a strong base of comparison from Q1’25 prior to the macroeconomic uncertainty that commenced in early Q2’25.

Industrial Automation grew +2.9% organic. The U.S. was up low-single digit, led by high-single digit growth at AVEVA primarily through distribution channels. The recovery in Discrete automation continued, up mid-single digit, including strong growth in Industrial manufacturing, while growth in longer-cycle Process automation markets was down. Canada grew high-single digit benefitting from strong growth at AVEVA and in Discrete automation. Mexico was down due to continued macroeconomic uncertainty.

Europe (26% of Q1 revenues) grew +8.3% organic in Q1, against a low base of comparison.

Energy Management grew +9.1% organic. Growth was led by Data Center, with broad‑based dynamics across the region. Industry and Infrastructure contributed strongly, while Buildings delivered solid growth, including stability in Residential. Among major economies, growth was led by Spain, up strong double-digit, with strength in Data Center and supported by Power & Grid. The U.K. and Italy grew double-digit, driven by strong demand across end-markets, led by Industry and Infrastructure, respectively, with good traction for SF6-free offers in Italy. France and Germany delivered mid-single digit growth, with France driven by Data Center project execution while Buildings was subdued, and Germany seeing strength in Data Center and Industry end‑markets. There was high-single digit growth in aggregate across the rest of the region, led by growth in the Nordics and in Portugal which benefited from execution on projects in the Data Center and P&G segments.

Industrial Automation grew +5.5% organic, with double-digit growth at AVEVA, benefitting from a multi-year, on-premise subscription renewal in the Infrastructure end-market in France, and strong growth in the U.K. and Germany. There was low-single digit growth in Discrete automation and Process & Hybrid markets across the region. Growth was led by the U.K., up double-digit primarily due to strong performance at AVEVA. Spain also grew double-digit, with strength in Discrete automation while Process & Hybrid markets also contributed. France and Germany grew high-single digit, with growth in France coming mainly from AVEVA, while Germany additionally benefitted from growth in both Discrete and Process & Hybrid. Italy grew low-single digit with good growth in Discrete, offset by timing of project execution in Process & Hybrid markets. The rest of the region was flat in aggregate.

China & East Asia (18% of Q1 revenues) grew +14.2% organic in Q1.

Energy Management grew +17.6% organic. China grew strong double-digit led by growth in the Data Center segment, across a broad range of customer types including social media, banking and telecoms, and in Infrastructure. There was strong growth in Industry where the Semicon segment was a growth driver, alongside good performance in electronics and EV manufacturing. The Buildings end-market remained relatively weaker, particularly for Residential, though Commercial and Public buildings saw some project-based demand. East Asia grew double-digit, led by Data Center. Growth was strongest in Thailand and Indonesia which benefitted from execution on Data Center projects, while Japan and Taiwan grew strongly linked to Semicon demand.

Industrial Automation grew +5.1% organic, led by high-single digit growth in Discrete automation and with positive contribution from AVEVA in the Infrastructure end-market, while sales into Process & Hybrid markets were down. China grew low-single digit with strong growth in Discrete automation driven by industrial OEMs, partly offset by weakness in Process industries, where sales were down. East Asia grew double-digit, led by strong growth in Discrete automation, notably in Korea where OEM demand for Semicon manufacture was a key driver, and supported by contribution from AVEVA, mainly in Japan and Korea.

South Asia & International (18% of Q1 revenues) grew +6.5% organic in Q1. The Middle East (which represented less than 5% of 2025 Group revenues) was down low-single digit in the quarter.

Energy Management grew +7.3% organic. India grew double-digit with strong contribution across Buildings, Data Center and Infrastructure end-markets. The need for power resiliency, energy management and increased electrification drove growth, leveraging the Group’s multi-brand strategy and depth of coverage across urban and rural locations. Australia was up double-digit driven by Data Center project execution and an improved environment in Residential buildings. Middle East & Africa was down low-single digit in an environment of heightened geopolitical and macroeconomic tensions, driving increased uncertainty. In this context, Saudi Arabia was down, while the U.A.E. and Türkiye grew. South America was up mid-single digit driven by project execution in the E&C segment, while product sales declined in a muted macro environment, notably in Brazil.

Industrial Automation grew +3.6% organic. India grew double-digit driven by Discrete automation, where there was strong growth in the Industrial manufacturing segment, and at AVEVA while Process & Hybrid sales declined due to timing of project execution. Australia was around flat with Discrete automation slightly positive. Middle East & Africa grew low-single digit in an environment of heightened geopolitical and macroeconomic tensions, driving increased uncertainty. Sales into Process & Hybrid markets were up while Discrete automation sales were down in the quarter. South America grew low-single digit, led by AVEVA with Discrete automation and Process & Hybrid sales slightly positive.

SCOPE¹ AND FOREIGN EXCHANGE² IMPACTS IN Q1

In Q1, net acquisitions/disposals had an impact of +€92 million or +1.1% of Group revenues, mainly relating to the acquisition of Motivair, coupled with the impact of some smaller disposals.

Based on transactions completed to-date, the Scope impact on FY 2026 revenues is estimated to be around flat. The Scope impact on adjusted EBITA margin for FY 2026 is estimated to be around flat.

In Q1, the impact of foreign exchange fluctuations was negative at -€623 million or -6.7% of Group revenues, mostly driven by the weakening of the U.S. Dollar, Indian Rupee and Chinese Yuan against the Euro.

Based on current rates³, the FX impact on FY 2026 revenues is estimated to be between -€750 million to -€850 million. The FX impact at current rates on adjusted EBITA margin for FY 2026 could be around -10bps.

II. SUSTAINABILITY IMPACT 2030

Building on Schneider Electric’s long-standing leadership and distinctive approach to sustainability, Impact 2030 structures the Group’s ambition around four strategic pillars – electrifying the world, reinventing the industry, unlocking human potential, and empowering local communities – translated into targeted programs and reported through measurable performance indicators.

In the first quarter of this new cycle, the Impact score reached 3.40/10, a strong start towards the Group’s annual 2026 target of 4.20/10 (10/10 being the 2030 ambition). The score reflects early traction across several key programs, combining progress in Schneider Electric’s own operations with scalable outcomes delivered for customers, suppliers and communities.

Schneider Electric has further decarbonized its operations, with Scopes 1 and 2 CO₂ emissions reduced by 82.5% compared with 2017. In Q1, the Group also enabled its customers to save or electrify 47.5 million MWh of energy through its energy management, automation and digital solutions. These continued efforts thereby translated into 20 million tonnes of CO₂ emissions saved and avoided this quarter.

Delivering large-scale progress also requires rethinking how products are designed and manufactured. In the first quarter, Schneider Electric continued to deploy its new Future-designed framework, with 14% of major offers in the design phase already demonstrating circular and environmental excellence.

Across its supply chain, the Group accelerated the roll-out of the Zero Carbon Pathway initiative, building on Schneider Electric’s long-standing approach to engaging suppliers. Onboarding is underway for more than 1,100 suppliers in Q1, many of whom have already participated in training sessions providing them practical tools, guidance and know-how to advance their decarbonization efforts.

Fostering equal opportunities also remains central to the Group’s efforts. During the first quarter, more than 2.8 million people benefited from sustainable electricity through community-focused solutions supported by Schneider Electric, while 113,000 people were upskilled through education and training programs developing technical skills related to energy, electrification and automation – bringing the cumulative number of people trained since 2009 to more than 1.2 million.

“Impact 2030 provides a framework to drive broad, systemic transformation - bringing everyone along” Esther Finidori, Chief Sustainability Officer at Schneider Electric said. “We look forward to seeing positive outcomes accelerate quarter after quarter, as our ambition is translated into tangible, consistent and measurable progress”.

The detailed Q1 2026 sustainability results and highlights are available in Schneider Electric’s quarterly sustainability report.

III. SHARE BUYBACK

As announced at its Capital Markets Day on December 11, 2025, the Group plans to undertake a systematic share buyback program of €2.5 billion to €3.5 billion cumulatively by the end of 2030.

In the period since the inception of the program on March 9, 2026 and April 24, 2026 (the latest practicable date before this release), the Group has purchased 0.4 million shares for €110 million at an average price of €250 per share.

IV. ORGANIZATIONAL UPDATE

Following the previously communicated appointment of Nathan Fast as Chief Financial Officer, which took effect on April 6, 2026, Antoine Sage will take the role as SVP - Head of Investor Relations effective June 1, 2026. Antoine has held several varied positions at Schneider Electric in a career spanning more than 20 years, including senior positions within Finance, most recently as SVP Finance – Power Systems and Secure Power.

V. EXPECTED TRENDS IN 2026

Amid an environment of increased uncertainty, the Group currently expects:

• Strong market demand to drive growth, with positive contribution from all four end-markets
• Data Center & Networks to lead growth based on strong demand in 2025; Industry and Infrastructure to accelerate; Buildings to improve contribution, aligned with macroeconomic trends
• Systems to lead growth; Products to show improved contribution with continued recovery in Discrete
• Strong growth in Software and Services, with key focus on driving more recurring revenues
• All four regions to contribute to growth (North America, Europe, China & East Asia, South Asia & International), led by U.S. and India
• South Asia and International region potentially impacted in Q2, specific to the disruption and uncertainty created by the ongoing situation in the Middle East
• The Group expects to be Net Price positive in value (price to offset raw material impact and tariffs), ramping up throughout the year
• The Group expects the other drivers of adj. EBITA margin expansion to be aligned with those set out in its recent Capital Markets Day

VI. 2026 TARGET REAFFIRMED

The Group reaffirms its 2026 financial target as follows:

2026 Adjusted EBITA growth of between +10% and +15% organic.

The target would be achieved through a combination of organic revenue growth and margin improvement, currently expected to be:

• Revenue growth of +7% to +10% organic
• Adjusted EBITA margin up +50bps to +80bps organic

This implies Adjusted EBITA margin of around 19.1% to 19.4% (including scope based on transactions completed to-date and FX based on current estimation).

Further notes on 2026 available in appendix

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The 2026 Q1 Revenues presentation is available at www.se.com

The Annual General Meeting will take place on May 7, 2026.

The 2026 Half-Year Results will be presented on July 30, 2026.

Contact Details:

Investor Relations
Schneider Electric
SEInvestorRelations@se.com
ISIN : FR0000121972

Press Contact:
Schneider Electric
Anthime Caprioli
corporate.communications@se.com

Press Contact:
Primatice
Olivier Labesse
Hugues Schmitt
Tel: +33 6 79 11 49 71

Disclaimer: All forward-looking statements are Schneider Electric management’s present expectations of future events and are subject to a number of factors and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. For a detailed description of these factors and uncertainties, please refer to the section “Risk Factors” in our Universal Registration Document (which is available on www.se.com). Schneider Electric undertakes no obligation to publicly update or revise any of these forward-looking statements.

About Schneider Electric:
Schneider Electric is a global energy technology leader, driving efficiency and sustainability by electrifying, automating, and digitalizing industries, businesses, and homes. Its technologies enable buildings, data centers, factories, infrastructure, and grids to operate as open, interconnected ecosystems, enhancing performance, resilience, and sustainability. The portfolio includes intelligent devices, software-defined architectures, AI-powered systems, digital services, and expert advisory. With 160,000 employees and 1 million partners in over 100 countries, Schneider Electric is consistently ranked among the world’s most sustainable companies.

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Appendix – Further notes on 2026

• Foreign Exchange impact: Based on current rates⁴, the FX impact on FY 2026 revenues is estimated to be between -€750 million to -€850 million. The FX impact at current rates on adjusted EBITA margin for FY 2026 could be around -10bps
• Scope impact: Around flat on 2026 revenues and around flat on 2026 adjusted EBITA margin, based on transactions completed to-date
• Tax rate: The ETR is expected to be in a 23-25% range in 2026
• Restructuring: The Group expects cumulative incremental restructuring costs of €500 million in the years 2025-2027, above a normalized rate of c. €100 - €150 million per year
• Finance costs: The Group expects incremental costs of c. -€150 million in 2026 associated with the financing of the transaction to acquire the remaining 35% of SEIPL.

Appendix – Revenues breakdown by business

Q1 2026 revenues by business were as follows:

Throughout this document growth percentage calculations are compared to the same period of the prior year, unless stated otherwise.

Appendix – Scope of Consolidation

Notes

1. Changes in scope of consolidation also include some minor reclassifications of offers among different businesses.
2. For those currencies meeting the criteria to be considered hyperinflationary under IAS 29, such as Argentina and Türkiye, an IFRS technical adjustment for hyperinflation impact is reflected as FX and therefore excluded from the organic growth calculation. The effect of operational actions taken in these countries such as increased pricing to mitigate the inflationary impact is reflected as part of the organic growth.
3. Forward exchange rates are volatile and difficult to predict. Consequently, the impact of such movement and possible impacts from hyperinflation technical accounting (IAS29) are not factored at this stage.
4. Forward exchange rates are volatile and difficult to predict. Consequently, the impact of such movement and possible impacts from hyperinflation technical accounting (IAS29) are not factored at this stage.