France · Delayed Price · Currency is EUR Legrand Earnings Call Transcripts
Fiscal Year 2025
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Record 2025 sales and profitability were driven by strong data center growth and strategic acquisitions. 2026 guidance targets 10–15% sales growth, with continued margin strength and robust order book, especially in data centers.
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Sales grew 14.5% year-over-year, driven by data centers (+30%) and acquisitions, with adjusted operating margin at 20.7%. Full-year guidance is confirmed, targeting 10–12% sales growth and 20.5–21% margin, while building segments remain flat and tariff impacts are less severe than expected.
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Strong H1 2025 results featured 15% sales growth and a 21% adjusted operating margin, driven by exceptional data center performance. Full-year guidance was raised, with most growth expected from data centers, while building markets remain subdued.
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Q1 saw double-digit sales growth, led by exceptional data center performance, while building markets remained soft. Margin and profit were strong, with tariff risks managed through pricing and supply chain actions. Full-year guidance and strategic targets are reaffirmed.
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The new 2025-2027 CSR roadmap builds on strong past achievements, targeting further gains in diversity, emissions reduction, circular economy, and responsible business. CSR is fully integrated into strategy, governance, and management incentives, supporting both financial and non-financial performance.
Fiscal Year 2024
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2024 targets were fully met, with strong data center growth, robust M&A, and high profitability. 2025 guidance targets 6%-10% sales growth, stable margins, and continued CSR progress, while data centers and acquisitions remain key growth drivers.
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Sales were stable over nine months, with Q3 growth driven by US data centers and acquisitions. Margins remain resilient despite weak European and Chinese markets, and strong M&A activity continues, especially in the data center segment.
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Expanded addressable market and strong financial delivery position the group for growth in data centers, energy transition, and digital lifestyle. Ambitions for 2030 include 3–5% annual organic and M&A growth, €12–15 billion sales, and robust CSR targets, including net zero by 2050.
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Resilient performance in a weak building market, with Q2 sales growth driven by data centers and robust margins. Full-year guidance is reaffirmed, acquisitions accelerate, and data center momentum is expected to continue, while Europe and China remain challenging.