Legrand Half-Year Report 2023

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

“In a generally contracting building market, Legrand reported very solid results in the first six months of the year. Sales rose +4.9% with organic growth a resilient +4.6%, buoyed primarily by faster expanding segments including energy efficiency solutions, connected products and datacenters. Financial indicators remained very strong, with adjusted operating margin a high 22.2% of sales, free cash flow at €813.8 million, net profit equal to 15.2% of sales, and net earnings per share up 19.0%.

Our Group is actively pursuing growth and development initiatives, launching many new products and acquiring three companies since the beginning of the year—Encelium, Clamper, and Teknica in Chile, announced today—while continuing to optimize its cost structure.

These strong showings confirm once again the pertinence and resilience of our value-creating business model. Building on these achievements, we have revised our full-year targets upward.

Highlights

• Sales: +4.9%, i.e. +6,0% excluding exchange rates
• Adjusted operating margin: 22.2% of sales
• Rise in net earnings per share: +19.0%
• Free cash flow: €813.8 million, 18.9% of sales