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Group

08/02/2017 08:00 Legrand completes the acquisition of Milestone AV Technologies LLC

Legrand announced today the closing of the acquisition of Milestone AV Technologies LLC (“Milestone”), a frontrunner in Audio Video (AV) infrastructure and power.

The acquisition of Milestone allows Legrand to further strengthen its positions in digital infrastructure, more specifically in the high-value AV infrastructure and power segment in the United States.
Milestone’s solid positions – with over 75% of sales representing products ranked #1 in their market – round out Legrand’s existing positions under the Middle Atlantic Products brand.
Milestone is based in Eden Prairie (Minnesota) and reported sales of $464 million in 2016. It has around 1,000 employees.

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Press release [ + ]

Finance

07/31/2017 07:30 2017 first-half results

Ongoing growth acceleration
Total sales: +9.1%
Double-digit increase in results and cash flow
Adjusted operating profit: +10.9%
Net profit attributable to the Group: +11.5%
Free cash flow: +19.1%
2017 targets fully confirmed

Gilles Schnepp, Chairman and CEO of Legrand, commented:

Ongoing growth acceleration

In the first half of 2017 Legrand reported total sales up +9.1% driven by the ongoing acceleration of its two growth drivers (organic growth of +3.2% and external growth of +4.1%).The exchange rate effect was +1.6%.

Organic growth in sales was sustained with good performances recorded in mature countries as well as new economies. A steady stream of new product launches, including the new Smarther connected thermostat in Italy in the second quarter of 2017, contributed to these good showings.

Moreover Legrand has made five acquisitions that round out its operations (“bolt-on”) and signed one joint venture since the beginning of the year – allowing the Group to strengthen positions in segments of its market driven by technological and societal megatrends. These acquisitions should thus help increase the share of Group annual sales made in new business segments to around 38% and raise the percentage of Group sales made with products ranked #1 or #2 on their markets to around 69%. 

Double-digit increase in results and cash flow

Growth in adjusted operating profit (+10.9%), net profit attributable to the Group (+11.5%) and free cash flow (+19.1%) reflect robust value creation. 

At the same time, adjusted operating margin before acquisitions (at 2016 scope of consolidation) stood at 20.6% of sales compared with 20.1% in the first half of 2016, or an increase of 0.5 point.”

 

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Group

07/13/2017 12:00 2017 AGM awards: Legrand wins the CAC 40 AGM grand prix

The 2017 AGM Awards ceremony was held on July 12th, 2017 in the context of the EUROPLACE Paris International Financial Forum. The event was attended in the presence of Gilles Schnepp, Legrand’s Chairman and Chief Executive Officer.

The 2017 prize-winners are:

CAC 40 AGM Grand Prix: Legrand

Rewarded for the originality and relevance of its meeting agenda. Legrand is indeed the 1st AGM of the CAC 40 to have built its presentation around value creation per stakeholder.

SBF 80(*) Award: Air France-KLM

Rewarded for stakeholder involvement in AGM preparation through a consultation in France and in the Netherlands, the main findings of which were presented during the AGM. The Group has thus broadened its analysis of the market environment to include an external perspective, highly relevant for a better shared understanding of the issues of its new strategic plan, Trust Together.

Governance Award: AXA

Rewarded for its detailed presentation on the general principles of Executive Directors’ compensation, information on the criteria used to measure the achievement of the targets set for variable compensation, and a reminder on stock-options and performance shares granted since 2010.

CSR Award: PSA Group

Rewarded for its focus on the major transformation of the Group’s model to meet its clients’ latest requirements, centred in particular on ethical and accountability requirements: sustainable mobility, shared mobility, reducing environmental impacts, etc.

Jury Special Award: St Gobain

Rewarded for the overall quality of its AGM, in particular concerning the connectivity of information provided, the detailed presentation on market trends, and the promotion of its corporate culture.

 

(*) The SBF 80 (“SBF” standing for “Sociétés des Bourses Françaises”) is a French stock market index, comprising the 80 most actively traded stocks on the Paris stock exchange which are not part of the CAC 40. The SBF 120 index comprises the component stock companies of both the CAC 40 and the SBF 80, thus combining the 120 largest market capitalisations in France.

 

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Finance

06/29/2017 19:15 Success for Legrand’s new euro bond issue

Legrand today successfully launched a bond issue for a total of one billion euros, in two tranches of 500 million euros each, with maturities of 7 and 15 years. The respective maturity dates of these two tranches are July 6, 2024 and July 6, 2032 and their annual coupons are respectively 0.750% and 1.875%.

Legrand will use this bond issue to finance its acquisition of Milestone AV Technologies LLC, a US frontrunner in the high-value segment of Audio-Video infrastructure and power.

With the order book subscribed three times over, this totally successful new issuance demonstrates once again investors’ confidence in the soundness of Legrand’s business model as well as the quality of its financial structure, and will allow the Group to pursue the extension of its debt’s maturity.

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Press release                       [ + ]

Group

06/29/2017 19:15 Success for Legrand’s new euro bond issue

Legrand today successfully launched a bond issue for a total of one billion euros, in two tranches of 500 million euros each, with maturities of 7 and 15 years. The respective maturity dates of these two tranches are July 6, 2024 and July 6, 2032 and their annual coupons are respectively 0.750% and 1.875%.

Legrand will use this bond issue to finance its acquisition of Milestone AV Technologies LLC, a US frontrunner in the high-value segment of Audio-Video infrastructure and power.

With the order book subscribed three times over, this totally successful new issuance demonstrates once again investors’ confidence in the soundness of Legrand’s business model as well as the quality of its financial structure, and will allow the Group to pursue the extension of its debt’s maturity.

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Press release                       [ + ]

Group

06/28/2017 07:30 Inside information 
Legrand pursues the reinforcement of its positions in digital infrastructure by acquiring Milestone AV Technologies LLC in the United States

Legrand today announced that it has signed an agreement to purchase US company Milestone AV Technologies LLC (“Milestone”), a frontrunner in Audio Video (AV) infrastructure and power, a high-value segment of the digital infrastructure market. 

Highlights:

Milestone – Strong leading positions in high-value segments
- Attractive business driven by megatrends (100% of Milestone sales are in new business segments );
- Strong market positions, with over 75% of Milestone sales made with products #1 or #2 in their market;
- Well known, trusted and innovative brands with a best-in-class customer-centric approach; 
- A knowledgeable and experienced management team;
- Highly complementary to Legrand’s existing positions in AV in the US (Middle Atlantic Products brand);
- In 2016, sales of $464m, adjusted  operating  margin of 21% and free cash flow at 12.5% of sales.  

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Group

06/22/2017 07:30 Legrand strengthens its positions in digital infrastructure by purchasing Server Technology, Inc.

Legrand is pursuing its development with bolt-on acquisitions and today announced the purchase of Server Technology, Inc., a US frontrunner in intelligent PDUs for datacenters. 

Legrand is already present in the datacenter market through companies specializing in VDI cabinets (Ortronics, Electrorack and AFCO Systems Group in the United States, Aegide/Minkels in the Netherlands, SJ Manufacturing in Singapore and Valrack in India), in PDUs as well as KVM switches and their applications (Raritan in the United States) and in pre-terminated solutions (Lastar/Quiktron in the United States). The Group thus rounds out its product offering in the buoyant datacenter market by adding Server Technology, Inc.’s range of intelligent PDUs. 

More generally, Legrand is strengthening its presence in the growing market for digital infrastructure, one of the Group’s four buoyant new business segments, driven by the rise in data flow volumes, linked in particular to growth in connected objects and rising demand for ever more energy-saving solutions. 

Based in Reno, Nevada, Server Technology, Inc. has some 200 employees and annual revenues of over $110 million.

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Press release Download image (HD) [ + ]

Finance

05/10/2017 07:30 2017 first-quarter results

Sustained, profitable growth in the first quarter of 2017
Organic growth in sales: +4.6%
Rise in adjusted operating profit: +14.5%
Increase in net income excluding minority interests: +17.0%
Ongoing active external growth
2017 targets confirmed

Gilles Schnepp, Chairman and CEO of Legrand, commented:

Sustained, profitable growth in the first quarter of 2017 

The growth momentum observed in 2016 continued in the first quarter of 2017, with sustained organic growth in sales of +4.6%, driven by all geographic regions but also benefiting from a positive calendar effect and orders placed in advance by some distributors.

The impact of the broader scope of consolidation on sales stood at +3.9% and the exchange-rate effect was favorable at +2.0%. Total Group sales rose by nearly +11%.

Adjusted operating profit came to €259.5 million, up €32.8 million or +14.5% from the first quarter of 2016, reflecting Legrand’s capacity to create value through profitable growth. Adjusted operating margin before acquisitions (at 2016 scope of consolidation) stood at 19.8% of sales (19.7% including acquisitions), compared with 19.1% in the first quarter of 2016.

Net result excluding minority interests is up +17.0% compared with the first quarter of 2016....

 

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Group

02/21/2017 08:00 The Smarther Legrand thermostat awarded a prize at the iF DESIGN AWARD 2017

The work of the Legrand team of designers and engineers has given rise to a project which, once again, has received a prestigious international recognition.

With its innovative Smarther thermostat Legrand has won the 2017 edition of the iF Design Award, in the Building Technology category.

The iF Product Design Award, introduced in 1954 and conferred annually by the iF International Forum Design, is one of the most important international product design prizes. Each year a selected jury of world-renowned experts evaluates more than 5,000 entries from around 70 nations from around the world, to identify the most original and up-to-the-minute design products and projects.

Smarther is a connected flush or wall-mounting thermostat, of innovative design, to manage heating and air conditioning. The Smarther thermostat gives an intuitive experience for perfect heating control.

Press release [ + ]

Finance

02/09/2017 07:30 2016 Results

Acceleration of Legrand’s two growth drivers
Growth in sales excluding exchange-rate effect: +6.5% (compared with +2.1% in 2015)
Ongoing success of Eliot program: nearly +40% total growth in sales of connected products
8 bolt-on acquisitions made

Solid integrated performance, targets fully met
Organic growth in sales: +1.8%; near the high end of the target (+2%)
Adjusted operating margin before acquisitions: 19.7%; exceeds the high end of the raised target (19.6%)
Growth in adjusted net income excluding minority interests: +3.0%; proposed dividend: €1.19
Achievement rate of CSR roadmap: 122%

On the closing of full-year accounts for 2016, Gilles Schnepp, Legrand Chairman and CEO, commented:

Acceleration of Legrand’s two growth drivers

In 2016, Legrand continued to expand its market positions by accelerating organic growth, driven by innovation and many commercial initiatives, and by stepping up the pace of acquisitions.

Legrand invested €248m in R&D in 2016, actively pursuing an innovation strategy that saw the launch of many new products again this year, among them the new Ekinox3 cabinet line in India and the Domino Sencia user interface range in Latin America. In connected products, the Group has successfully continued to deploy its Eliot program: in addition to strong showings in its Digital Lighting Management and intelligent PDUs3 offerings in the United States, where Eliot was rolled out in November 2016, Legrand has strengthened its product offering with ranges such as Class 300X door entry systems, whose launch was particularly well received in France and Italy in 2016. At the 2017 Las Vegas CES4, Legrand introduced “Celiane with Netatmo”, a connected switch and socket solution. More generally, with nearly +40% total growth in sales of connected products in 2016, the Group is ahead of schedule and will continue to deploy Eliot in new countries in 2017...

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Social Responsability

02/06/2017 10:00 The Global 100 ranking includes Legrand for the third year running

For the third year in succession, Legrand has been included among the “Global 100 most sustainable corporations”, ranking 59th in 2017.

Drawn up each year by Corporate Knights*, the Global 100 ranking is published at the World Economic Forum in Davos (Switzerland). It provides an index of the 100 corporations worldwide most committed to sustainable development.

This year’s ranking was established on the basis of a detailed analysis of 4 973 companies from all sectors of economic activity, which were rated according to a set of 14 key performance indicators combining financial performance and CSR (Corporate Social Responsibility) performance factors.

Legrand’s inclusion in the Global 100 underlines the way CSR has been placed at the core of the Group’s development strategy.

Find out more about the Global 100.

*Corporate Knights is an independent organization, founded in 2002 and based in Toronto, promoting responsible capitalism.

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Group

02/01/2017 08:00 Acquisition of OCL US specialist in architectural lighting solutions

Legrand is actively pursuing its strategy of bolt-on acquisitions, and announced today its ninth acquisition in the last twelve months with the purchase of OCL, specialized in architectural lighting solutions for commercial and high-end residential buildings in the United States.

Based in Saint Louis, Missouri, OCL has around 60 employees and reports annual sales of about $15m, mainly in the United States.

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Group

01/05/2017 09:00 Legrand at CES 2017: the Eliot program dynamic has gathered momentum Legrand presents its connected innovations

For the third consecutive year, Legrand, as a global specialist in electrical and digital building infrastructures, is participating in the Consumer Electronics Show (CES) at Las Vegas from January 5 to 8, 2017. To illustrate the accelerated deployment of its Eliot program, Legrand is introducing a new connected home control solution, Céliane with Netatmo, a new connected door entry system, Classe 300, and the Digital Lighting Management system, a connected professional lighting management solution. This focus on the Eliot program is further accentuated by putting the spotlight on Legrand’s partnerships. Coming in the wake of the recent launch of Eliot in the US, this participation at CES 2017 evidences the innovation dynamic nurtured by Legrand around the Internet of Things and the notion of interoperability.

Our attendance at CES 2017 reflects our global ambitions on the intelligent building market”, states Gilles Schnepp, Chairman and CEO of Legrand. “Our strategy involves developing innovative connected solutions, setting up suitable infrastructure, and promoting interoperability through partnerships so as to adapt to all requirements.” 

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> Céliane with netatmo
> Eliot program

 

Press release Press kit Eliot [ + ]

Message of, the CEO

Chairman’s message

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Rapport annuel et document de référence

Press Room

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Legrand and the social networks

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