First nine months of 2021 results Strong rise in financial results for Legrand
Nov 15, 2021
Organic rise in sales: +16.0%
Adjusted operating margin: 21.4% of sales
Rise in net profit: +42%
Full-year 2021 targets specified
Benoît Coquart, Legrand’s Chief Executive Officer, commented: “Sales for the first nine months of the year were up +15.0% year on year, i.e. +5.7% over two years. This performance included a strong +16.0% organic rise year on year, with a +4.4% increase over two years, confirming Legrand’s continued capacity to improve its competitive positions on its markets as pressures built on supply chains. In the first nine months of 2021, adjusted operating margin came to 21.4% and net profit rose by +42%, or +12% over two years. These very good results testify once again to the soundness and relevance of our unique model for value creation, where our mid-term ambitions – particularly in faster expanding segments such as datacenters, connected products in the Eliot program, and energy efficiency programs – were presented in detail to investors at our Capital Markets Day on September 22.
Given solid showings in the first nine months of the year, but also significant pressure on supply chains with a volatile pandemic environment, Legrand is now aiming for the following full-year targets:
– organic growth in sales of between +11% and +13%, compared to at least +10% previously;
– a scope of consolidation effect of nearly +3%;
– an adjusted operating margin of between 20.0% and 20.5% of sales (including acquisitions consolidated in 2021), compared to about 20% previously.
The Group also aims to achieve at least 100% of its CSR roadmap for 2021, testifying to its ongoing deployment of a bold, exemplary approach to ESG, with a particular focus on the fight against global warming and the promotion of diversity.
Source : https://www.legrandgroup.com/sites/default/files/Documents_PDF_Legrand/Finance/2021/9m/Legrand_Press_Release_Results_9M2021%202_1636006023.pdf