Legrand 2023 First-Half Results

August 8, 2023

In a contracting building market, Legrand turned in a solid first half and revised its full-year targets upward

Very resilient first half

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 

Legrand 2023 full-year targets revise

Sales growth (excluding exchange rates and Russia): +5% to +8%
Adjusted operating margin (before acquisitions and Russia): ~20.5% of sales

“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.

Sustained deployment of our strategic roadmap, combined with underlying trends that include electrification, changing ways of living and working, digitization of uses, or energy-consumption monitoring, are boosting our faster expanding segments. As a result, we are targeting a full-year 2023 performance fully in line with our medium-term model of business growth and value creation.”

Benoît Coquart,
Legrand’s Chief Executive Officer

More information available here

Related Article

Legrand: 2023 First-Quarter Results

Legrand reports solid first quarter, with sales up 9.0% and very robust growth in results and cash generation.

Related Articles


Changing Scene

  • Leviton| Viscor Announces Julian Verrall as New Director of Engineering & Product Management

    Leviton|Viscor Announces Julian Verrall as New Director of Engineering & Product Management

    Leviton|Viscor is pleased to announce the appointment of Julian Verrall as their new Director of Engineering and Product Management, effective immediately. With over 13 years of experience in engineering and product management, Julian has successfully led design and new product development initiatives, demonstrating strong leadership and technical expertise. His extensive knowledge and strategic vision will… Read More…

  • Magic Lite Announces New Partnership with Prolux Lighting - Representation

    Magic Lite Announces New Partnership with Prolux Lighting

    Magic Lite is thrilled to officially join forces with the amazing team at Prolux Lighting & Controls with a new representation agreement! Thank you for the warm welcome! The Magic Lite team is excited to be part of Prolux’s strong lineup of trusted lighting brands. From kitchens to commercial projects, Magic Lite can’t wait to… Read More…


Design

  • Magic Lite: How 5CCT Ultra-Thin Recessed Ceiling Lights Deliver Maximum ROI

    Magic Lite: How 5CCT Ultra-Thin Recessed Ceiling Lights Deliver Maximum ROI

    Lighting is one of the most important aspects of any commercial or residential project, yet it is often overlooked when calculating long-term return on investment (ROI). 5CCT ultra-thin recessed ceiling lights have emerged as a game-changer, offering superior efficiency, lower installation costs, and long-term financial savings for contractors, architects, and real estate developers. Unlike traditional recessed fixtures,… Read More…

  • Artika: Spring Bathroom Lighting Upgrades for a Refreshed Space

    Artika: Spring Bathroom Lighting Upgrades for a Refreshed Space

    Refresh and revitalize your bathroom lighting. Spring brings with it an opportunity to breathe new life into our homes, starting with the spaces we use the most. The bathroom plays a crucial role in our routine, from energizing showers in the morning to relaxing baths at night. Therefore, consider upgrading your bathroom lighting to transform… Read More…


New Products

  • Zaneen: Adamas Luminaire

    Zaneen: Adamas Luminaire

    Adamas is a surface and suspension light that can elevate a space with its radiant charm. This exquisite lighting fixture is not just an illumination source; it’s an eye-catching centerpiece that adds a touch of elegance to any room. Adamas takes its inspiration from the timeless beauty of diamonds. Its multifaceted design captures and reflects light… Read More…

  • JDRF Electromag: Autonomy Sensor – Smart Lighting

    JDRF Electromag: Autonomy Sensor – Smart Lighting

    The Autonomy Sensor is an integrated control and management device that self-organizes, configures, and optimizes an advanced Smart Lighting System. A set of Autonomy Sensors collaborate to provision a secure wireless mesh network, establish Area membership based on physical co-location, and configure motion and daylight groups through the analysis of motion patterns and daylight distribution… Read More…