Above-average business profile, supported by solid competitive positions and extensive geographic diversity; Efficient cost management; and Strong financial structure and ability to generate solid free cash flow. Most of the company's end markets are exposed to cyclicality; and Share buybacks and acquisitions are likely in the near future. The ratings on France-based Schneider Electric S.A. reflect the group's above-average business profile, supported by solid competitive positions, extensive geographic diversity, and efficient cost management, as well as a strong financial structure and ability to generate solid free cash flow. These strengths are tempered, however, by the cyclicality of most of Schneider's end markets, as well as the expectation of future share buybacks and an acquisitive strategy. With sales of €9 billion
