2017 Annual Results - February 15, 2018
- Q4 Revenues up +4.6% organic with Energy Management and Industrial Automation, growing by +4.3% and +5.6% respectively
- FY Revenues €24.7bn, up +3.2% organic with growth across regions
- Record €3.65bn FY adj. EBITA, +9% org; 14.8% margin up 90bps org.
- All time high Net Income of €2.15bn, up +23%. Record FCF at €2.25bn
- Proposed dividend at €2.20/share, up +8%
Jean-Pascal Tricoire, Chairman and CEO, commented:
“In 2017, we drive our revenues up +3.2% organic for the full year, and accelerate in Q4 at +4.6%. The continued execution of our strategy delivers a strong +90bps organic adjusted EBITA margin improvement, confirming the continuous and structural improvement of our operating margin over the past 10 quarters. 2017 is the year of a combined highest ever adjusted EBITA, Net Income and Free Cash Flow. We also improve our ROCE to 12%, by more than 1.3pts.
Our sales accelerate, boosted by the delivery of complete solutions of efficiency and productivity, leveraging the strength of our focused portfolio in Energy Management and Industrial Automation and the adoption of EcoStruxure as the platform of integration and collaboration. We also benefit from the launch of a high number of new products and digital services on the market. We keep working on our portfolio and reinforce our presence in Energy Management with Asco Power, strengthen in software by launching the acquisition of IGE+XAO and combining our industrial software business with AVEVA. At the same time, we finalize the disposal of DTN.
In 2018, we shall keep focusing on our strategy to grow products, services and software, accelerate the adoption of EcoStruxure and continue to capitalize on our unique integrated portfolio. With selectivity being completed, all our businesses are set to grow, and we shall keep working on maximizing the cross-selling for faster growth and leaner execution.”