Rudy Ruitenberg is a Europe correspondent for Defense News. He started his career at Bloomberg News and has experience reporting on technology, commodity markets and politics.
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A Schneider Electric factory in France, 2019
The World Going Electric Lifts Europe’s Industrial Behemoths Demand for electrical gear for everything from data centers to electric vehicles is expected to boost businesses like Schneider, ABB, and Siemens.
Bloomberg | Feb 12, 2021
Rudy Ruitenberg (Bloomberg) Schneider Electric SE forecast higher profit for this year after a better-than-expected annual result and joined European rivals in predicting growth linked to the world going electric.
Adjusted operating profit before amortization slipped to 3.93 billion euros ($4.77 billion) last year, ahead of analysts’ estimates, as demand for gear to power data centers and buildings helped blunt the impact of the coronavirus. The French company predicted earnings will jump as much as 15% this year.