Gilles Schnepp, Chairman and CEO of Legrand, comments:

« Sales
Group sales for the first quarter of 2012 showed a total rise of 4.8%, driven by an active acquisition policy that contributed 5.0%. Organic change in sales was -0.9% compared with very robust activity in the first quarter of 2011, particularly in France. Together, continued expansion in new economies, where organic growth was nearly 6%, and a rise in sales in the United States offset trends observed in most mature markets in Europe.

Results
Adjusted operating income came to €222 million or 20.4% of sales (20.8% excluding acquisitions) reflecting the group’s ability to:
- take account of the rising cost of raw materials and components consumed in sales price management
- keep expenses under control thanks to responsive teams and ongoing productivity initiatives.
These achievements confirm the soundness of Legrand’s business model and its ability to adapt.
...
 

With the order book quickly oversubscribed more than 2 times, the success of this new issue demonstrates once again investors’ confidence in the soundness of Legrand’s business model and the quality of the group’s financial structure as attested by its A- rating from Standard and Poor’s.

Following two successful bond issues in 2010 and 2011 and the renewal of the revolving facility of its syndicated loan in the second half of 2011, Legrand is continuing to successfully diversify its sources of financing and extend the maturity of its debt, strengthening further an already very sound balance sheet.
 

Following the appointment of Eliane Rouyer-Chevalier to Legrand's Board of Directors in 2011, the arrivals of Christel Bories and Angeles Garcia-Poveda, subject to the approval of these resolutions by shareholders at the next General Meeting, would raise the number of independent directors further, from three to five members, and increase the number of women on the Board from one to three.

After purchasing Electrorack in the US, Legrand is pursuing its development in the data-center market and today announced the acquisition of Aegide, one of the major European contenders in data-center racks and cabinets. Aegide leads the Dutch market and has strong positions in several other European countries including Belgium, Switzerland and France.

Aegide’s product ranges (cabinets, racks and related products) are sold under the Minkels brand in particular and are an ideal complement to Legrand’s offer for data centers (wire-mesh cable management, modular UPS, busbars and VDI connectivity). Aegide’s sales network and expertise will also give Legrand access to the main European players in the fast-growing data-center market. Legrand is thus strengthening its positions in the digital infrastructure business, where prospects are very promising.

Based near Eindhoven, Aegide has 170 employees and sales of €36 million.

- The acquisition reinforces Legrand’s positions in the new economies and in the fast-growing UPS¹ market

Legrand is actively pursuing its strategy of development through self-financed acquisitions of small to medium-size businesses with leading positions in their markets, and today announced the acquisition² of Numeric UPS, the UPS division of Numeric and India’s market leader for low- and medium-power UPS¹ solutions.

The Numeric UPS acquisition, which follows Legrand’s purchase of Indo Asian Switchgear in July 2010, strengthens the group’s presence in India, where it already holds strong positions in miniature circuit breakers, distribution enclosures and high-end wiring devices. Numeric UPS brings Legrand a portfolio of quality products, strong brand awareness, and an extensive sales and service network of over 1,500 employees that covers the entire nation and rounds out the group’s reach in India. Legrand is thus strengthening its presence in a fast-growing market where it has recorded organic growth in sales averaging nearly 25% a year over the past decade.

The Numeric UPS transaction comes after Legrand’s acquisitions of Inform, Turkey’s number-one UPS provider; Meta System Energy, an Italian modular UPS specialist; and SMS, Brazil’s UPS leader, and continues the group’s expansion into the promising UPS market – a business line that offers an excellent fit with energy-distribution and energy-performance activities, two of the group’s growth areas.

Based mainly in Southeast India, Numeric UPS has eight production sites, a workforce of 2,500 and its sales reach nearly €80 million.
 

¹UPS: Uninterruptible Power Supply
²The acquisition still requires corporate approval and has already received the unanimous support of Numeric’s Board of Directors

 

West Hartford, CT, December 2, 2011 – Today, Legrand joined President Obama and Department of Energy officials in Washington, D.C. to announce that the company has joined the Better Building, Better Plants Presidential Leadership initiative to create American jobs through energy efficiency.

By encouraging office and plant upgrades and renovations, the deployment of energy-saving solutions will boost local construction projects and expand opportunities for architects, design engineers, contractors and installers in communities throughout the U.S.

One of the priorities in the social field is the encouragement of diversity in its teams and the prevention of all forms of discrimination. Legrand contributed to achieving this aim by organising a week of events focused on Diversity and Disability from 14 to 18 November 2011.
The week's programme included various initiatives such as:
- physiotherapy workshops given at Legrand's head office by blind and partially sighted therapists,
- a special day dedicated to dialogue with disabled persons seeking employment,
- the publication of a "Diversity special issue" of the in-house magazine, entirely made up of voluntary contributions from employees,
- a question & answer section on the company's intranet on the topic of diversity,
- a poster campaign reminding personnel of the Group's main targets in this area.

This year's third edition of this annual event at Legrand was enthusiastically welcomed by several hundred participants.

“Sales
In the first nine months of 2011, Legrand sales rose by a total of nearly 10%, backed by:
- robust organic growth¹ (+7.0%) driven by a strong rise in revenues in new economies (nearly 15% organic growth¹), numerous successful new-product launches, and continued expansion in new business segments² (more than 15% organic growth¹),
- continued self-financed and targeted acquisitions of small and mid-size companies offering high growth potential and strong market positions, as illustrated by the recent operation with Megapower, leader for plastic cable management in Malaysia. Since the beginning of 2011, five front-runner companies representing combined annual revenues of over €200 million have joined Legrand.
In the third quarter alone, sales rose by a total 8.0% with organic growth¹ of 5.3%.

Results
In this context, Legrand reported adjusted operating margin of 20.9% of sales (21.3% excluding acquisitions) in the first nine months of 2011, reflecting our capacity to control costs and to take account of the rising cost of raw materials and components consumed in sales prices.
Net income totaled €389 million.

Confirmation of 2011 targets
Nine-month results are in line with our targets, allowing us to confirm our 2011 targets:
- 5% organic sales growth¹, rounded out by acquisitions³,
- adjusted operating margin equaling or exceeding 20%, including the impact of acquisitions³."

^₁ Organic growth: at constant scope of consolidation and exchange rates

² Digital infrastructures, energy-performance solutions, residential systems and cable management

³ Small and medium-size bolt-on acquisitions


 

2011 targets confirmed

Gilles Schnepp, Chairman and Chief Executive Officer of Legrand, comments:

“Sales
In the first half of 2011, Legrand sales rose a total 10.4%, backed by:
- organic growth¹ of 7.9% driven by fast-moving new economies (nearly 16% organic growth1 and 22% total growth¹) in Asia, Latin America, the Middle East and Eastern Europe; by successful new-product launches, particularly in France and Italy; by vigorous expansion in new business segments² (nearly 17% organic growth1 and 28% total growth), and by a favorable basis for comparison,
- self-financed bolt-on acquisitions of small and mid-size companies offering high growth potential and strong market positions. Consolidation of these acquisitions contributed 3.1% to growth in the first six months of the year.

Results
In the first half of 2011, Legrand maintained its adjusted operating margin excluding acquisitions at 21.3% as in the first half of 2010 and the first quarter of 2011. This good operational performance illustrates, in particular, our success in passing on into sales prices the steep rise in raw material prices observed in the first half of the year. Adjusted operating margin including acquisitions was 21.0% for the period.

Confirmation of 2011 targets and effectiveness of Legrand’s business model
First-half results were in line with our expectations, allowing us to confirm our 2011 targets:
- 5% organic sales growth¹, rounded out with acquisitions ,
- adjusted operating margin equaling or exceeding 20%, including the impact of acquisitions³.
All in all, these good performances illustrate both the effectiveness and the soundness of our business model, and support our mid-term objectives. ”

¹ Organic growth: at constant scope of consolidation and exchange rates

² Digital infrastructures, energy-performance solutions, residential systems and cable management

³ Small and medium-size bolt-on acquisitions

 

*International voluntary traineeship scheme (Volontariat International en Entreprise)

This partnership involves setting up the very first economic and industrial project aimed at large-scale deployment of solutions for home automation and advanced, intercommunicating remote assistance for dependent persons.

Legrand and Corrèze Conseil Général will be cooperating closely throughout the project, from design through to deployment of these solutions among 2,200 people who will thus benefit from home automation equipment designed to give them greater independence.
 
Through its specialist subsidiary Intervox, Legrand will ensure the design and marketing of the communication solutions involved towards a target group of remote assistance professionals, while also providing home automation training for electrical installers at its Innoval training facility in Limoges.

Yet another opportunity for Legrand to demonstrate its commitment to the high growth-potential assisted living market.

After the recent acquisition of Electrorack, a US specialist in VDI (voice-data-image) cabinets for datacenters, Legrand is actively pursuing expansion in digital infrastructures and today announced the purchase1 of Middle Atlantic Products, North America’s leader in audio and video enclosures.

Middle Atlantic Products Inc. will bring Legrand leading positions in a fast-growing segment with very promising prospects, along with a nationwide network of more than 3,500 integrators specialized in commercial and residential markets for which the group is already developing dedicated product lines (audio-video connectors, cable management systems, etc.). It will also reinforce Legrand’s commercial positions in verticals such as hotels and conference centers.

Middle Atlantic Products Inc. has operations in New Jersey, Illinois, California and Canada. It employs a workforce of 520 and in 2010 reported sales of over USD 107 million and operating income in double digits.

In keeping with its strategy, Legrand is actively pursuing growth through targeted and self-financed acquisitions of leading contenders in fast-growing markets. In the past 12 months, seven high potential companies, all front runners, will have thus joined the group, representing annual sales of nearly €300 million

¹ The completion of the transaction is subject to customary conditions precedent.


 

Legrand announces today the launch of its Twitter news flow : Legrand_news. Legrand Twitter digital platform is first of all an information tool. It allows to be informed on real time of all news and events concerning the Legrand group around the world.
Legrand Twitter flow is available on: https://twitter.com/#!/legrand_news

Intervox and Legrand were awarded the Jury Prize in the "gerontechnology" category at the "Trophée du Grand Age" ceremony in Paris, for their communicating interface which provides a gateway between the complementary fields of remote assistance and home automation. At the ceremony on May 2nd,  the prize was handed over to Xavier de Froment on behalf of the Legrand group and Intervox.
The "Trophées du Grand Age" (Old Age Awards) provide an opportunity to highlight and reward the most outstanding initiatives and innovations designed to enhance quality of life for senior citizens. The 2011 edition took place under the patronage of France's Minister for Solidarity and Social Cohesion, Ms. Roselyne Bachelot-Narquin.

Gilles Schnepp, Chairman and CEO of Legrand, comments:

“Sales
Group sales for the first quarter of 2011 showed a total rise of 13.7% or 9.0% at constant scope of consolidation and exchange rates, reflecting:
-    vigorous growth in new economies, where sales showed an overall rise of 26.6% (nearly 16% at constant scope of consolidation and exchange rates),
-    firm expansion in new business segments (close to 17% growth in sales at constant scope of consolidation and exchange rates), including in particular digital infrastructures, energy performance and home systems.
Corrected for the particularly favorable base for year-on-year comparison in France and Italy in the first quarter of 2010 (see page 2 for details), organic growth in the first quarter of this year is fully in line with our full-year target of 5%.

Results
Against a backdrop of steep rises in prices for raw materials and components, adjusted operating income was up 15.4% to represent 21.1% of sales. Allowing for the usual seasonality, this result is fully in line with the 2011 full-year target which calls for adjusted operating margin equaling or exceeding 20%, including the impact of acquisitions. It also confirms the structural nature of the level of profitability achieved in 2010.

Innovation
With R&D investments representing close to 5% of sales, the group is actively pursuing a strategy of innovation and new product launches (see page 3 for details):
-    in core ranges, this makes for a steady flow of offerings to match needs in new economies and constantly enhance functionalities, esthetic appeal and ease of installation,
-    in new business segments showing rapid growth driven by the technological and societal changes of recent years,
-    in businesses with high potential in a longer-term perspective, including smart grids, charging stations for electric vehicles and assisted living.

Acquisitions
As previously announced, Legrand is stepping up the pace of its development through self-financed, bolt-on acquisitions of small to medium-size businesses with strong market positions and high growth potential. Following the acquisitions of Inform in Turkey, Indo Asian Switchgear in India, and Meta System Energy in Italy during the second half of 2010, the group recently acquired SMS¹ , number-one in Brazil for UPS, Electrorack, a US company specialized in VDI (Voice-Data-Image) cabinets, and Intervox, the market leader in connected security systems in France.

Legrand aims to continue building on this value creative momentum over the long term, with rigor, thus making the most of a still fragmented market offering a wealth of opportunities

¹ Subject to the approval of competent authorities in Brazil

The acquisition reinforces Legrand’s robust positions in Brazil and its offering in energy performance

In accordance with its strategy, Legrand is actively continuing its development through selffinanced acquisitions of small to medium-size businesses with leading places on their markets, and announces, subject to the approval of competent authorities in Brazil, the acquisition of SMS, number one for UPS¹ in Brazil and a frontrunner across Latin America in this field.

SMS will round out the robust positions Legrand already holds in Brazil, where it takes first place for wiring devices, door-entry systems, miniature circuit breakers and industrial enclosures. In addition to quality products, SMS brings the benefits of a nationwide network of sales teams, distributors and service centers that will effectively extend the Group's sales reach in Brazil.Legrand is thus set to significantly strengthen its presence in a country and in a market segment that are both experiencing vigorous growth.

More generally, Legrand aims to accelerate development in new economies, which should account for 35% of total group sales this year.

Following its purchases of Alpes Technologies and Zucchini and, more recently, those of Inform and Meta System Energy, Legrand's acquisition of SMS marks a new step forward in the development of its energy-performance business, a fast-growing activity.

SMS operates in the Sao Paulo area and the north of Brazil, with three production sites and a workforce of over 1,100 people. In 2010, SMS sales were close to €80 million and operating margin was in double digits.

¹ UPS: Uninterruptible Power Supply

 

In addition, with the decline in the equity interests of Legrand's two main shareholders, and as announced in the joint statement issued by KKR and Wendel on March 4, 2011, the number of directors representing them on the Board will be reduced from three to two each. In keeping with this, Mr. Ernest-Antoine Seillière, a director representing Wendel, and Mr. Edward Gilhuly, a director representing KKR, have informed Legrand of their decision to step down from their positions on the Board at the close of the General Meeting on May 26, 2011.

Biographical note

Eliane Rouyer-Chevalier, who holds a master's degree in economics from the University of Paris II Assas, joined Accor in 1983, taking responsibility for international financing and cash currency management before becoming Director of Investor Relations and Financial Communication in 1992. In 2010, she joined the Executive Committee of Edenred, a company created when the Accor Group was split up, as Vice President, Corporate and Financial Communications & Social Responsibility.
She has presided the French Association for Investor Relations (CLIFF) since 2004 and the Observatoire de la Communication Financière since 2005.

With the order book quickly oversubscribed more than 4 times, the overwhelming success of this new issue demonstrates investors’ confidence in the group’s business model, prospects and sound financial structure.

The transaction continues the diversification of Legrand’s sources of financing and th extension of the maturity of its debt.

Legrand mandated BNP Paribas, Natixis and SG CIB as Joint Lead Managers for the issue, and BBVA and HSBC as Co-Lead Managers.

Mid-term objectives

+10% total annual average growth in sales²
50% of sales in new economies five years from now
20% average adjusted operating margin including acquisitions³

On the occasion of the approval of full-year accounts for 2010, Legrand CEO Gilles Schnepp commented on group fundamentals, results and targets.

“A sound, virtuous business model
Legrand demonstrated the soundness and quality of its business model, which has been further reinforced over the past three years. Offering profitability and cash generation that are among the highest in the sector, this has enabled our group to self-finance growth through innovation and acquisitions and pay an attractive dividend, consistent with a very sound balance-sheet structure.

2010: return to growth and effectiveness of the business model
Highlights of our 2010 performance included:
- 24% sales growth in new economies and an overall rise in consolidated sales of 8.7%
- a rise in adjusted operating margin to 20.2% in 2010 compared with 16.2% in 2009 while adjusted operating income increased 35.5%.
Considering these results and the group’s balance-sheet structure, the Board of Directors will ask the General Meeting of shareholders to approve a dividend distribution of €0.88 per share payable on June 3, 2011.

Mid-term objectives
Starting from these bases, the group has set itself the following mid-term objectives:
- 10% total annual average growth in sales, driven by increasing exposure to new economies, which are expected to account for 50% of consolidated sales five years from now compared with one third today; expansion on new business segments (see page 3) that already account for nearly 20% of sales; and pursuit of targeted, self-financed acquisitions
- 20% average adjusted operating margin, including acquisitions³.
Legrand is committed to responsible growth. After meeting goals set in 2007 for corporate social responsibility, care for the environment and governance, the group will actively pursue efforts in these areas and announce new stages in its drive for progress in the first half of 2011.

2011 targets
Legrand’s targets for 2011 are:
- 5% organic growth rounded out with acquisitions³
- adjusted operating margin equaling or exceeding 20%, including the impact of acquisitions³.”

¹ Subject to the approval of shareholders at the General Meeting on May 26, 2011.

² Including like-for-like and acquisition-driven growth, excluding major exchange-rate effects or economic downturns

³ Small to mid-size bolt-on acquisitions

Legrand thus strengthens its positions in digital infrastructures, a new fast-growing business segment

Continuing its active strategy of acquisitions in new economies (recently Inform in Turkey and Indo Asian Switchgear in India) and also in new business segments (Meta System Energy in Italy in December 2010 rounding out Inform’s operations in UPS⁽¹⁾), Legrand today announced the acquisition of Electrorack, a US specialist in VDI cabinets.

Electrorack designs and produces solutions for large data center facilities, in particular white rooms, a fast-growing market expected to expand by 10% a year in the United States over the next few years. Electrorack’s well established position with the largest corporations in the US and its range’s excellent fit with that of Ortronics will enable Legrand to accelerate its growth in the buoyant VDI segment in the US.

Legrand is thus expanding its positions in digital infrastructures, where demand is rising fast and where the group has recorded average annual growth of 9% over the past ten years, backed by a steady flow of innovation illustrated by among other the new LCS² line and the acquisition of Estap in Turkey.

Based in Anaheim, California, Electrorack employs more than 90 people and should post sales of over $23 million in 2010 with a good level of profitability.

¹ UPS : Uninterruptible Power Supply

Acting now to prepare for tomorrow is Legrand’s motto as it involves its customers and partners in a forward-looking approach that aims to ensure lasting, responsible and profitable growth for its business.

In this context, Legrand organised a Sustainable Development month for all of its staff in November 2010. It involved an awareness-raising campaign using various means including poster displays, the distribution of a brochure restating Legrand’s key aims and more specifically targeted intranet communication moves. The topic of diversity was given pride of place, with a week of events dedicated specifically to this issue.

Following its recent acquisitions of Indo Asian Switchgear, a key player in the Indian market for electrical protection devices, and Inform, Turkey's number-one contender in UPS, Legrand is continuing its strategy of targeted, self-financed acquisitions and today announced the purchase of Meta System Energy, an Italian company specializing in modular UPS.

Legrand is thus quickening the pace of development in the energy-performance sector, a rapidly expanding market where the group has recorded double-digit annual growth over the past decade, fueled in particular by continuing investment in innovation as well as the acquisitions of Alpes Technologies, EDM - Zucchini and, more recently, Inform.

Specialized in advanced modular UPS, Meta System Energy designs and produces systems for critical applications including data centers and financial institutions, which round out Inform's conventional UPS offering. Meta System Energy's expertise in power electronics and inverters for solar power applications will also boost the group's capacity to develop secured electrical equipment.

Based in Reggio nell'Emilia, Meta System Energy employs a staff of nearly 50 and its sales should exceed €16 million in 2010, with exports accounting for around a third of the total.

⁽¹⁾ UPS: Uninterruptible Power Supply

Gilles Schnepp, Chairman and Chief Executive Officer of Legrand, comments:
“Legrand's consolidated sales for the first nine months of 2010 came to €2.9 billion, showing a rise of 7.5%. The rise at constant scope of consolidation and exchange rates was 3.7%. Adjusted operating income for the period was up 39% to €603 million.

This rise in sales reflects positive trends in Legrand's growth profile with:
- over 1/3 of sales now in new economies, where the group saw a 20.5% rise over the first nine months of 2010.
- nearly 20% of revenues now in new business segments (digital infrastructures, energy performance, residential systems, etc.), where group sales from the beginning of the year were up 8.5%.

Legrand is actively pursuing its innovation strategy, with R&D spending equaling 4.5% of sales and two-thirds of investments dedicated to new products in the first nine months. It thus accelerated its business development, with highlights including the successful launches of LCS2, Arteor and Nereya. The group is also positioning itself to benefit from new sources of growth in areas including protection devices for solar-power applications, solutions for assisted living and
electric vehicle charging stations such as the "Green Up" presented at the Paris Motor Show.

The operational leverage resulting from sales growth and the full impact of reorganization already in place led to a steep rise in adjusted operating margin, which reached 21.0% of sales in the first nine months of 2010.

Despite the seasonality of fourth-quarter margin and gradual rises in raw-material prices, Legrand has again raised its target for full-year adjusted operating margin, to 20% up from over 19% previously."

* A lighting path is made up of a series of motion sensors enabling automatic  control of lighting along predefined paths identified as being potentially  hazardous; this solution was a prize-winner at the 2010 Old Age Awards.

Gilles Schnepp, Chairman and Chief Executive Officer of Legrand, comments:
“In the first half of 2010, Legrand sales were up 5.4% to €1.9 billion, while the rise at constant scope of consolidation and exchange rates was 3.1%. Adjusted operating income rose 44% to €400 million...

- Legrand makes an offer for Indo Asian Switchgear, a key player in the Indian market for electrical protection devices
- Legrand aims to pursue its expansion in emerging economies and significantly increase its presence in India

Following its purchase of Inform, Turkey’s number-one contender in UPS, on July 9, Legrand today announced that it had made an offer to buy the Indo Asian Switchgear division of Indo Asian Fusegear Limited. The offer, which requires corporate approval, has already received the unanimous support of Indo Asian Fusegear’s Board of Directors.

Protection devices made by Indo Asian Switchgear (miniature and residual current circuit breakers, distribution boards, relays, etc.) are aimed primarily at the retail market, where Indo Asian Switchgear is a major player. They perfectly round out existing Legrand operations in India, where the group holds strong positions in both high value-added protection systems mostly used in project business and in premium wiring devices.

The move will significantly increase Legrand’s presence in a fast-growing market where the group should generate close to 4% of its annual sales following the acquisition, and where Legrand has recorded organic growth averaging over 19% a year for the past 15 years.

With 2010 sales that should exceed €35 million and an operating margin in double digits, Indo Asian Switchgear is based near New Delhi and employs approximately 2000 people at three sites.

The EV Plug Alliance announced today the joining of Gewiss, Marechal Electric, Radiall, Vimar, Weidmüller France & Yazaki Europe. Established end march 2010 by Schneider Electric, Legrand & Scame, the EV Plug Alliance aims to promote the use of a high safety plug and socket solution for Electric Vehicle charge infrastructure.

This first extension of the EV Plug Alliance with members from several countries and various business backgrounds confirms the validity of the proposal made by the Alliance to rapidly converge towards a standardized solution to connect Electric Vehicles in Europe. New members will contribute to the creation of an eco-system with one strong standard, accelerating development and adoption of solutions and practical applications to revolutionize the Electric Vehicle charge.

On May 10, 2010, already, Gimélec  announced its support to the EV Plug Alliance, explaining this proposal of convergence reconciles the interests of all participants, users and manufacturers thus allowing the best usage of technologies offered by the different European companies, in full compliance with applicable norms and standards in Europe.

Installed on the infrastructure side, the plug and socket system endorsed by the Alliance will ensure compatibility between multiple suppliers' products. Charge at a power up to 24 kW, in mono or three phase installations, will allow charging electric vehicles and plug-in hybrids. It will offer the highest level of safety with the use of shutters to protect against accidental touch of electric parts and is fully compliant with the IEC standard for plug & socket in finalization.

The first products labeled by the EV Plug Alliance are planned to be available at the end of second quarter 2010.

In the first quarter of 2010, Legrand’s sales rose 0.5% at constant scope of consolidation and exchange rates and adjusted operating income was up 38%.

The rapid adoption of a European standard for Electric Vehicle infrastructure plugs that meets the existing security levels required for installation in homes and buildings at an optimized cost is a key factor to develop the nascent Electric Vehicle market. The Alliance aims to provide a label that guarantees full compliance with the Type 3 of the IEC standard for plug & socket in finalization. 

The plug endorsed by the Alliance will ensure compatibility between multiple suppliers' products. Charge at a power up to 24 kW, in mono or three phase installations will allow charging electric vehicles and plug-in hybrids. It will offer the highest level of safety with the use of shutters to protect against accidental touch of electric parts.

“The EV Plug Alliance is open to any new member, and our first challenge is to gather as many actors concerned as possible. The more we enlarge the Alliance, the more chances we will have to create an eco-system with one strong standard, easing development of solutions and practical applications to revolutionize the electric vehicle charge”, said the three cofounders of the EV Plug Alliance; Philippe Delorme, Executive Vice-President Strategy & Innovation of Schneider Electric; Jean-Charles Thuard, Executive Vice-President Strategy & Development of Legrand; and Giampiero Camilli, Marketing & Product Development Director of Scame.

The first products labeled by the EV Plug Alliance are planned to be available at the end of second quarter 2010.

With 2009 sales down a steep 13.9% at constant scope of consolidation   and exchange rates, our maintainable adjusted operating income fell   15.6% to €629.5 million, which corresponds to a near steady margin of   17.6% of sales, compared with 17.7% in 2008.