Finance |02.09.2017 08:30
Acceleration of Legrand’s two growth drivers
Growth in sales excluding exchange-rate effect: +6.5% (compared with +2.1% in 2015)
Ongoing success of Eliot program: nearly +40% total growth in sales of connected products
8 bolt-on acquisitions made
Solid integrated performance, targets fully met
Organic growth in sales: +1.8%; near the high end of the target (+2%)
Adjusted operating margin before acquisitions: 19.7%; exceeds the high end of the raised target (19.6%)
Growth in adjusted net income excluding minority interests: +3.0%; proposed dividend: €1.19
Achievement rate of CSR roadmap: 122%
On the closing of full-year accounts for 2016, Gilles Schnepp, Legrand Chairman and CEO, commented:
“Acceleration of Legrand’s two growth drivers
In 2016, Legrand continued to expand its market positions by accelerating organic growth, driven by innovation and many commercial initiatives, and by stepping up the pace of acquisitions.
Legrand invested €248m in R&D in 2016, actively pursuing an innovation strategy that saw the launch of many new products again this year, among them the new Ekinox3 cabinet line in India and the Domino Sencia user interface range in Latin America. In connected products, the Group has successfully continued to deploy its Eliot program: in addition to strong showings in its Digital Lighting Management and intelligent PDUs3 offerings in the United States, where Eliot was rolled out in November 2016, Legrand has strengthened its product offering with ranges such as Class 300X door entry systems, whose launch was particularly well received in France and Italy in 2016. At the 2017 Las Vegas CES4, Legrand introduced “Celiane with Netatmo”, a connected switch and socket solution. More generally, with nearly +40% total growth in sales of connected products in 2016, the Group is ahead of schedule and will continue to deploy Eliot in new countries in 2017...