Legrand Press release
Solid performances and 2013 targets confirmed
Commercial positions in growing markets strengthened
Gilles Schnepp, Chairman and CEO of Legrand, comments:
“Solid performances in the first half and confirmation of 2013 targets
Group sales in the first half of 2013 came to nearly €2.3 billion for a total rise of 1.4%, or 2.6% excluding exchange-rate effects. The broader scope of consolidation resulting from acquisitions contributed 2.9% of the total.
Organic growth in sales was -0.2% for the first half, close to the central point of our organic growth target for the full year 2013.
In a generally lackluster economic environment, this good resistance was due in particular to strong relative performances in the United States (+8.0% organic growth in the United States/Canada region) and in new economies (+5.2% organic growth) over the first six months of the year.
Adjusted operating income in the first half amounted to €458 million, and came to 20.7% of sales excluding acquisitions (20.3% including acquisitions). This good operating performance illustrates Legrand’s capacity to seize business development opportunities through investments targeting growth in buoyant markets, and also to adapt in countries affected by unfavorable economic conditions...
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