Legrand Press release
Organic growth in sales: +0.8%
Adjusted operating margin before acquisitions: 20.2% of sales
Steady compared with the first nine months of 2013
Gilles Schnepp, Chairman and CEO of Legrand, comments:
"Legrand sales in the first nine months were up +3.9% excluding the exchange-rate effect. The broader scope of consolidation resulting from acquisitions added +3.1%. Organic growth came to +0.8%, a change in line with the trend in Legrand's market over the same period.
Business trends held steady in mature markets with the pace of growth improving in the United States in particular. Sales in new economies rose nearly +3% during the first nine months of the year, reflecting the good increase in the first half that was driven by emerging regions as a whole, and differentiated business trends in the third quarter. In the third quarter alone, sales in China and Turkey thus grew more slowly than in the first half and business in Latin America and Russia showed a decline.
Including exchange-rate effects, the change in total sales was +0.2% for the first nine months and +3.3% for the third quarter alone...
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