Legrand Legrand

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05/10/2017 07:30
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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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