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05.02.2019 07:302019 first-quarter results
2019 first-quarter results
Sales: +7.3%
Adjusted operating profit: +5.1%
Net profit attributable to the Group: +8.6%
Pursuit of innovation and acquisition strategy and of operational initiatives
Launch of the new 2019-2021 CSR roadmap
2019 targets confirmed
Benoît Coquart, Legrand’s Chief Executive Officer, commented:
« 2019 first-quarter results
Group sales were up +7.3% compared with the first quarter of 2018. This sustained growth resulted from a solid +2.9% organic rise in sales rounded out by the impact of an increased scope of consolidation of +1.9% and a favorable exchange-rate effect of +2.3%.
Adjusted operating profit grew +5.1%, and adjusted operating margin stood at 19.7% of sales. Before acquisitions (at 2018 scope of consolidation), adjusted operating margin reached 19.8% of sales.
Finally, net profit attributable to the Group increased +8.6% and normalized free cash flow rose +9.5%.
Pursuit of innovation and acquisition strategy and of operational initiatives
Legrand is pursuing its innovation strategy, launching many new products for user interfaces—including new connected ranges sold in Europe as part of the Eliot program—as well as for digital infrastructures, UPS systems and assisted living.
The Group also acquired Universal Electric Corporation, the undisputed US leader in busways for datacenters. The move rounds out Legrand’s offering in a promising market where it already holds front-runner positions.
More generally, and as announced in February, Legrand is actively pursuing the deployment of initiatives launched to strengthen its profitable and sustainable development model, particularly by organizing its front office into three regions, optimizing its industrial footprint, and continuing the targeted digitalization of its operations and front office.
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