Schneider Electric set to sell Pelco

Pelco is a global specialist in the design, development, and delivery of trusted end-to-end video surveillance solutions and services including cameras, recording and management systems software. It generated revenues of €169m in 2018 and employs 478 people. It is currently reported under the Energy Management business of Schneider Electric. The proposed transaction follows the strategic reviewannounced in Schneider Electric’s 2018 results on assets totalling €1.5-2 billion of revenues, as the Group continues to focus its activities on core energy management and industrial automation offerings.

The proposed transaction is subject to the consultation of the relevant work councils and would be finalised upon the successful completion of this process. Based on current terms, it would trigger a non- cash loss on disposal of up to €250m, the net impact of which would be excluded from the net income used for dividend calculation. The transaction would be accretive by c.+10bps to the Group adjusted EBITA margin on a full year basis.