Manufacturers

Legrand Reports Nine-Month 2022 Results

LIMOGES, France — Legrand today released financial results for the first nine months of 2022.

Benoît Coquart, Legrand’s Chief Executive Officer, commented:
“Sales at the end of September came to more than €6 billion [USD $5.87 billion], up +19.1% from the same period of 2021, and were driven by organic growth of +10.1%. Despite many adverse external factors, linked in particular to high across-the-board inflation, Group profitability held up particularly well, with an adjusted operating margin at 20.2% of sales. 

Legrand confirms once again the benefits of its model for robust value creation, with net profit up +16.1% in the first nine months of 2022. 

On the back of an uncertain economic outlook, we are deploying initiatives to both seize all growth opportunities, particularly in datacenters and energy efficiency solutions, and to optimize our cost structures. 

Lastly, Legrand is playing an active role in promoting frugal energy choices by:
–  doubling our own energy consumption reduction goals set between 2021 and year-end 2023, and we are now aiming for a -15% cut;
–  offering a wide range of solutions for automating eco-friendly actions in all buildings and making them easier to implement.”

Highlights:

Sustained rise in sales: +19.1% 
including organic growth: +10.1%

Robust financial performance
Adjusted operating margin: 20.2% of sales
Rise in net profit: +16.1%

Ongoing external growth momentum
2 new acquisitions in buoyant segments

2022 full-year targets confirmed

The full report can be found here.

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