Legrand is actively implementing its development strategy with two acquisitions in the promising areas of assisted living, healthcare and datacenters, further strengthening the Group's leadership in its faster expanding segments.
With building markets in retreat, Legrand turned in a very solid performance, meeting targets with sales up nearly 5% (organic growth and acquisitions), and record margins and free cash flow
Outstanding 2023 performance
Sales: +0.9%, i.e. +4.7% excluding exchange rates and Russia
Adjusted operating margin: 21.0% of sales
Rise in net earnings per share: +15.6%
Free cash flow: €1.6 billion, 18.8% of sales, up +53.0%
CSR roadmap achievement rate: 118% in 2023
Ongoing execution of strategic roadmap
5 acquisitions over a year, of which 1 announced today
Powerful fundamentals (innovation, pricing power, productivity)
Targeted investments in growth and cost structure optimization
2024 full-year targets
Sales growth (organic and through acquisitions) slightly positive (in low single digits)
Adjusted operating margin before acquisitions: 20.0% to 20.8% of sales
In February 2024, Legrand was included in the CDP Climate Change "A- list" for its actions to combat climate change. The Group is amongst the best companies in the electrical and electronic equipment sector to have achieved the "Leadership" level.