Legrand Press release
Robust performance in first-half 2016
Healthy organic growth in sales: +1.9%
Rise in adjusted operating profit: +3.1%
Numerous growth initiatives
Ongoing development in connected offerings
7 acquisitions closed in the first half of 2016
2016 targets fully confirmed
Gilles Schnepp, Chairman and CEO of Legrand, commented:
“Robust performance in first-half 2016
Legrand’s organic growth in sales stood at +1.9% in the first half of 2016, as a result of solid performance in the United States (+5.5%), growth in mature European economies (+1.6%) and stability in new economies where conditions vary from one country to the next.
Adjusted operating profit rose +3.1% and adjusted operating margin before acquisitions (at 2015 scope of consolidation) stood at 20.3% of sales compared with 19.8% in the first half of 2015. Taking acquisitions into account, adjusted operating margin came to 20.1% in the first half of 2016.
Net income excluding minority interests was steady at €283m, or 11.6% of sales.
Free cash flow generation was solid, with normalized free cash flow at 13.0% of sales, allowing the Group to continue to self-finance its development in the long term.
These robust performances illustrate—once again—Legrand's ability to create value...
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