2022 First-half results

2022 First-half results

29/07/2022 - 08:22

Strong growth in sales: +18.5%

including organic growth: +10.9%

Very solid results despite an unstable and highly inflationary environment

Adjusted operating margin: 20.5% of sales

Rise in net profit: +13.9%

2 new bolt-on acquisitions in datacenters announced

2022 full-year target for sales raised

Total growth at constant exchange rates: +9% to +12%

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

“Over the first six months of the year, Legrand reported good results characterized by sustained growth and high profitability.

Sales, which totaled over €4 billion, grew by +18.5%, buoyed by sustained organic growth (+10.9%). Our adjusted operating margin stood at 20.5% of sales, confirming healthy resistance despite a particularly unstable and inflationary environment. Net profit grew by +13.9%.

In an increasingly uncertain economy, our Group is laying the groundwork to:

- first, seize any growth opportunities that arise by leveraging the quality of our positioning in segments structurally driven by digitalization and energy savings (these include datacenters, energy efficiency solutions and connected products); by continuing to invest in innovation; and by pursuing our bolt-on acquisitions policy;

- second, limit the impact of an economic slowdown on our performance, thanks in particular to an ongoing optimization of our cost base, our intact pricing power, and teams that are quick to respond and fully in tune with their markets.”

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