Financial performance of Schneider Electric
In the 2021 fiscal year, Schneider Electric’s total revenue reached approximately 28.9 billion euros. The company’s Energy Management segment accounted for around 77 percent of the total revenue, nearly 22.2 billion euros in the 2021 fiscal year. This segment produces contactors and protection relays, electric vehicle charging stations, medium voltage transformers, and power and energy monitoring systems, among others.In the same year, Schneider Electric increased its spending on research and development by around 19 percent, directing 855 million euros toward expanding its product variety.
Schneider Electric history and competitors
The company was originally founded in 1836 as a steel and machinery company that produced armaments, equipment, and facilities for the transport and traffic sector. Almost 150 years later, the company shifted its attention to solely the electrics market and began a series of strategic acquisitions. Currently, the company’s production focuses on medium and low-voltage networks, and automation machines, and systems.Schneider Electric’s biggest competitors in the fields of energy management and automation are Siemens and ABB Group. In 2021, Siemens AG generated almost 17 billion euros from the digital industries segment while ABB Group made a revenue of over 13 billion euros from its Electrification products segment.
