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Thursday, December 14, 2017

IGE+XAO: A highly favourable first quarter

In accordance with the announcement made in its press release dated 26 October 2017, IGE+XAO has, for the first quarter of 2017/2018, a double-digit growth rate in its consolidated turnover, up 14.7%, which is 7,329,321 euros compared to 6,387,301 in 2016/2017. This sharp increase is the result of the good resistance of SME/SMI sales and of the very significant growth in the activity linked to Major Accounts.

Backed with the good beginning of the financial period and the performance of the last financial period ending on 31 July 2017, which generated operational profitability and net profitability respectively of 27% and 20%, the Group plans to strengthen its international operations and Research & Development activities. This proactive strategy is fully integrated into the Group's economic model that combines regular growth, strong innovation and high profitability. In this context, it will be suggested to the Combined Shareholders' Meeting of 26 January 2018 to distribute a gross dividend of 1.55 euro per share compared to 1.50 euro in 2015/2016 and 1.00 euro in 2014/2015.

In parallel to the day-to-day conducting of business and following the filing on 8 November 2017 by Schneider Electric Industries with the French Financial Market Authority of a proposed public bid for purchase on the IGE+XAO securities, the Board of Directors of the Company unanimously issued on 30 November 2017 a favourable and substantiated opinion on the proposed Bid, and in particular on the fair nature of the price of 132 euros per share (with coupon attached for the 2016-2017 financial period), and this, with regards to the report of the independent expert, of the assessment made by the establishment presenting the Bid and of the favourable opinion from the Works Council. Moreover, all of the members of the Board of directors have committed to contributing their securities to the Bid. Finally, the information note as a response from IGE+XAO was validated by the French Financial Market Authority as visa no. 17-634 on 12 December 2017. The public Purchase Bid was launched on 14 December 2017.

To view the original press release, please click here.

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