Legrand Full-Year Report 2023

Benoît Coquart, Legrand’s Chief Executive Officer, commented:

“With building markets that retreated during the year, we turned in another very satisfactory financial and extra-financial performance in 2023. This confirmed once again the relevance of Legrand’s growth and value creation model, along with our teams’ strong capacity to adapt and achieve results.

Sales growth, organic and through acquisitions, was nearly +5%, buoyed by:

• the outstanding showing of our faster expanding segments, including datacenters, energy efficiency solutions and connected products, as well as a rise in electrification around the world and increased use of electricity as a power source,
• deployment of numerous growth initiatives, including multiple new-product launches and commercial investments,
• the announcement of five new acquisitions during the year, including two in datacenters, a sector that now represents 15% of our total sales.

Highlights

• Sales: +0.9%, i.e. +4.7% excluding exchange rates and Russia
• Adjusted operating margin: 21.0% of sales
• Rise in net earnings per share: +15.6%
• Free cash flow: €1.6 billion, 18.8% of sales, up +53.0%
• CSR roadmap achievement rate: 118% in 2023