Legrand Press release
2014 performances in line with targets
Group development initiatives actively pursued
On the closing of full-year accounts for 2014, Gilles Schnepp, Legrand Chairman and CEO, commented on group results, development and targets:
"2014 performances in line with targets
Legrand's 2014 performances for organic growth and profitability are in line with targets set at the beginning of the year and demonstrate once again the soundness of the group's business model:
- sales totaled €4.5 billion, up +3.2% excluding the exchange-rate effect, and were driven in particular by the broader scope of consolidation linked to acquisitions that added +2.7%. Organic growth in sales came to +0.5%, with good sales momentum in the United States/Canada zone, growth in new economies, and rising sales in Southern and Northern Europe more than offsetting business trends that have not yet stabilized in other mature countries in Europe.
More generally, total sales rose by +0.9%, including an exchange-rate effect of -2.4%;
- adjusted operating margin before acquisitions came to 19.8% of sales (19.6% including acquisitions). This illustrates the initiatives taken by the group to simultaneously fuel growth in expanding markets, adapt in countries where necessary, and pursue ongoing initiatives to improve productivity, such as the deployment of product platforms...
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