Legrand: 9m net income down 11%

(CercleFinance.com) - For the first nine months of 2024, Legrand has reported an 11% drop in net income (group share) to E833.
7m, with an adjusted operating margin down 1.1 point to 20.5% (20.6% before acquisitions).

In a depressed building market in many regions, sales for the electrical equipment supplier fell by 1.2% to E6.23bn, including an organic decline of 0.8% (-0.1% in mature countries and -2.8% in new economies).

In Q3 alone, sales growth (+2.4% excluding the effects of exchange rates and the exit from Russia) was notably driven by sustained growth in data centers in the United States, management said.

For 2024, Legrand now anticipates an adjusted operating margin of 20% to 20.4% after acquisitions (instead of 20% to 20.8% before acquisitions), for organic sales and sales from acquisitions still expected to grow slightly in the low single digits.


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