Legrand Sa · EURONEXT:LR
Legrand Sa — Q3 2024 Earnings Presentation
52 slides from Legrand Sa's earnings presentation, Nov 7, 2024
Slide 1: #LegrandImprov
#LegrandImprov }
Slide 2: Content
Content G NINE-MONTH RESULTS 2024 Oo 2
Slide 3: Content
Content Highlights 9M 2024 results Acquisition momentum 2030 financial ambitions 2024 full-year targets specified Financial agenda & Corporate access N Oa PWN > Appendices NINE-MONTH RESULTS 2024 LI fégrand
Slide 4: Nine-Month Results 2024
‘0 Hegiend— NINE-MONTH RESULTS 2024
Slide 5: Highlights
s Highlights 9M 2024 results ~ Change in sales 1 -1,2%, ie, +0.3% excl, FX & Russia ~ Adjusted operating margin : 20.5% of sales ~ Net profit attributable to the Group : 13.4% of sales Strong acquisition momentum — 7acquisitions announced since the beginning of the year (~€350mm acquired yearly sale
Slide 6: 9M 2024 results
2 9M 2024 results NINE-MONTH RESULTS 2024
Slide 7: 9M 2024 - Change in net sales
9M 2024 - Change in net sales € millions . = age +0.3% Organic + acquisitions 6,307.3 6,229.0 Organic +11% -0.8% E ° 9 Acquisitions Russia xternal’: +03% FX° 9M 2023 9M 2024 1. Based on acquisitions made as well as the effective sale of the Group's Russian activities at October 4, 2023, the overall
Slide 8: 9M 2024 - Organic sales trends by destination
9M 2024 - Organic sales trends by destination EUROPE NORTH & CENTRAL AMERICA REST OF THE WORLD 40.1% OF GROUP 40.1% OF GROUP 19.8% OF GROUP -3.4% Building market remains difficult in most countries Mature countries -3.7% (35.0% of Group) Italy and the UK holding up well Sales decline in France, Spai
Slide 9: 9M 2024 - Adjusted operating margin
9M 2024 - Adjusted operating margin | om 2023 | Adjusted operating margin 21.6% Group resilience confirming the ability of Legrand to hold margins high despite a decrease in sales 1.0 pt | 9m 2024 | Adjusted operating margin before acquisitions” 20.6% Impact of acquisitions -0.1 pts | om 2024 | Adju
Slide 10: 9M 2024 - Net profit
9M 2024 - Net profit NET PROFIT ATTRIBUTABLE TO THE GROUP 13.4% of sales - Decline in operating profit — Negative impact of financial result & FX = 27.0% corporate income tax rate NINE-MONTH RESULTS 2024 O legrand’ 10
Slide 11: 9M 2024 - Cash generation
9M 2024 - Cash generation €749MM 12.0% of sales ° NINE-MONTH RESULTS 2024 O legrand n
Slide 12: 9M 2024 - Balance sheet
9M 2024 - Balance sheet NET DEBT TO EBITDA™ RATIO DEBT STRUCTURE / ~ Netdebt) =. 1.7X | €3.2bn in 9M 2024 J) \ Gross Debt ~90% fixed rate / / \ & 5.0 years maturity / NN wa NN. €1.8bn available cash J 1, Based on EBITDA in the last twelve months NINE-MONTH RESULTS 2024 O legrand’ 2
Slide 13: Acquisition momentum
Olegrand’ »
Slide 14: Dynamic external growth momentum: acquisitions in 2024 totaling ~€350mm annual sales
Dynamic external growth momentum in buoyant segments 7 acquisitions in 2024 totaling ~€350mm annual sales ACQUISITIONS SALES Digital Lifestyles oO Dutch software leader in connected healthcare >€60mm ZXZNETRACK indian specialist in racks ~€10mm lrish specialist in low-voltage power distribution syst
Slide 15: amy’
A ” amy’ eampsasrepremrecar serene “wy i -_ oe i —-— >») i a { NINE-MONTH RESULTS | legrand’
Slide 16: 2030 financial ambitions
2030 financial ambitions Sales Adjusted Ebit margin' Free Cash Flow Capital allocation 1. All-in adjusted Ebit margin: including restructuring costs NINE-MONTH RESULTS 2024 €12bn to €15bn in 2030 +6% to +10% CAGR (combining organic and M&A) ~20% of sales organic improvement offsetting M&A dilution ~
Slide 17: 2024 full-year targets specified
° NINE-MONTH RESULTS | legrand
Slide 18: 2024 full-year targets
(organic and through acquisitions - unchanged);
Slide 19: Financial agenda & Corporate access
lagenda & Corporate access inancia B.F hase < a S$ a n 5 5 a ia co = = 2 oO = m7 = z
Slide 20: Financial agenda
Financial agenda f f i i f f FY 2024 ' Q1 2025 ' 2025 Release f Release 1 General 1 ! Assembly f f \ \ @ @ @ i i f f February 13, 2025 ' May 7, 2025 ' May 27, 2025 f f f f NINE-MONTH RESULTS 2024 tl fégrand 20
Slide 21: 2025 Corporate access calendar
2025 Corporate access calendar Date Feb. 14, 2025 Feb. 17 & 18, 2025 Feb. 19, 2025 Feb. 19 & 20, 2025 Feb. 25 & 26, 2025 Feb. 25 & 26, 2025 Feb. 27, 2025 Feb. 27, 2025 March 4, 2025 March 6, 2025 1, Planned dates and participants may change NINE-MONTH RESULTS 2024 FY 2024 - Roadshows Broker Kepler C
Slide 22: 2024/2025 Corporate access calendar
2024/2025 Corporate access calendar” Date Nov. 19, 2024 Nov. 28, 2024 Dec. 3, 2024 Feb. 20, 2025 Feb. 20, 2025 March 12, 2025 March 26, 2025 May 13, 2025 1. Planned dates and participants may change NINE-MONTH RESULTS 2024 Conferences Conference CIC Forum by Market Solutions Bernstein SG - Premium R
Slide 23: 2024/2025 Corporate access calendar
2024/2025 Corporate access calendar” Date June 3, 2025 June 4, 2025 June 12, 2025 Sept. 2, 2025 Sept. 22 or 23, 2025 Sept. 24 or 25, 2025 Dec. 3 or 4, 2025 Dec., 2025 (day TBC) Conferences Conference Norges - Buy Side global industrials BNP Exane - CEO conference JPMorgan - European Capital Goods Co
Slide 24: Appendices
ee. Appendices NINE-MONTH RESULTS 2024 | legrand’ 24
Slide 25: Glossary
Glossary Adjusted operating profit is defined as operating profit adjusted for: i/ amortization and depreciation of revaluation of assets at the time of acquisitions and for other P&L impacts relating to acquisitions, ii/ impacts related to disengagement from Russia (impairment of assets and effecti
Slide 26: Change in net sales
Change in net sales Breakdown of change in 9M 2024 net sales by destination (€mm) -88.8 49.4 “1.4 -43.9 16.7 78.3 ED a= ee ae =D 6,307.3 North Rest of Europe = & Central the America World XY ~- SY 07,0) -0.8% 0.7% oe oe 4.2% Organic growth consolidation Total 9M 2023 9M 2024 1. Due to the consolidat
Slide 27: 2024 Nine months - net sales by destination
2024 Nine months - net sales by destination” In € millions 9M 2023 9M 2024 Chane Pen rhe for tike Currency Effect Europe 2,639.5 2,497.7 -5,4% -2.0% -3.4% 0.0% North and Central America 2,456.1 2,496.9 1.7% 0.0% 2.0% -0.4% Rest of the World 1,211.7 1,234.4 1.9% 5.8% -0.9% -2.8% Total 6,307.3 6,229.0
Slide 28: 2024 First quarter - net sales by destination
2024 First quarter - net sales by destination” In€ millions Qi2023. = Qr2024 chenge ome “he fortike Currency Effect Europe 9411 886.0 -5.9% -1.0% -4,7% -0.2% North and Central America 811.6 757.9 -6.6% 01% -6.0% -0.8% Rest of the World 396.9 384.3 -3.2% 5.9% -5.8% -3.0% Total 2,149.6 2,028.2 -5.6% 0
Slide 29: 2024 Second quarter - net sales by destination
2024 Second quarter - net sales by destination” In € millions Q2 2023 Q2 2024 Total Scope of Like-for-Like Currency Effect Change Consolidation Growth Europe 893.8 862.9 -3.5% -2,4% -1.5% 0.4% North and Central America 824.7 880.6 6.8% -0.1% 5.8% 1.0% Rest of the World 426.7 438.6 2.8% 5.7% -0.7% -2
Slide 30: 2024 Third quarter - net sales by destination
2024 Third quarter - net sales by destination” Total Scope of — Like-for-Like In € millions Q3 2023 Q3 2024 Change Consolidation Growth Currency Effect Europe 804.6 748.8 -6.9% -2,8% -4.1% -0.1% North and Central America 819.8 858.4 4.7% 0.0% 6.0% -1.3% Rest of the World 388.1 411.5 6.0% 5.6% 3.9% -
Slide 31: 2024 Nine months - net sales by origin
2024 Nine months - net sales by origin” In € millions 9M 2023 9M 2024 chonwe oe he forte Currency Effect Europe 2,757.5 2,604.3 -5.6% -21% -3.5% 0.0% North and Central America 2,497.6 2,528.2 1.2% 0.0% 1.5% -0.4% Rest of the World 1,052.2 1,096.5 4.2% 6.9% 0.5% -3.1% Total 6,307.3 6,229.0 -1.2% 0.3%
Slide 32: 2024 First quarter - net sales by origin
2024 First quarter - net sales by origin” In€ millions Qi2023. = Qr2024 chenge ome “he fortike Currency Effect Europe 978.2 918.9 -6.1% -1.0% -5.0% -0.2% North and Central America 829.2 767.5 -7.4% 01% -6.8% -0.9% Rest of the World 342.2 341.8 -0.1% 6.8% -3.4% -3,.2% Total 2,149.6 2,028.2 -5.6% 0.7%
Slide 33: 2024 Second quarter - net sales by origin
2024 Second quarter - net sales by origin” In€ millions Q22023 2.2024 chenge ome “he fortike Currency Effect Europe 936.0 898.4 -4,0% -2.6% -1.8% 0.3% North and Central America 837.4 891.8 6.5% 0.0% 5.4% 1.0% Rest of the World 371.8 391.9 5.4% 71% 0.7% -2.3% Total 2,145.2 2182.1 1.7% 0.1% 1.5% 0.1%
Slide 34: 2024 Third quarter - net sales by origin
2024 Third quarter - net sales by origin” In€ millions Q32023 —-Q3.2024 change en “he fornike Currency Effect Europe 843.3 787.0 -6.7% -2,8% -3.8% -0.2% North and Central America 831.0 868.9 4.6% 0.0% 5.9% 1.3% Rest of the World 338.2 362.8 7.3% 6.9% 4.3% -3.8% Total 2,012.5 2,018.7 0.3% 0.0% 1.7% -
Slide 35: 2024 Nine months - P&L
2024 Nine months - P&L In € millions 9M 2023 9M 2024 % change Net sales 6,307.3 6,229.0 1.2% Gross profit 3,303.1 3,246.4 -1.7% as % of sales 52.4% 52.1% Adjusted operating profit 1,363.5 1,276.1 -6.4% as % of sales 21.6% 20.5% (i) Amortization & depreciation of revaluation of assets at the time of
Slide 36: 2024 First quarter - P&L
2024 First quarter - P&L In € millions Q1 2023 Q1 2024 % change Net sales 2,149.6 2,028.2 -5.6% Gross profit 1139.5 1,076.2 -5.6% as % of sales 53.0% 53.1% Adjusted operating profit 477.2 415.9 -12.8% as % of sales 22.2% 20.5% (i) Amortization & depreciation of revaluation of assets at the time of a
Slide 37: 2024 Second quarter - P&L
2024 Second quarter - P&L In € millions Q2 2023 Q2 2024 % change Net sales 2,145.2 2182.1 +1.7% Gross profit 1127.9 1138.0 +0.9% as % of sales 52.6% 52.2% Adjusted operating profit 477.5 457.2 -4.3% as % of sales 22.3% 21.0%) (i) Amortization & depreciation of revaluation of assets at the time of ac
Slide 38: 2024 Third quarter - P&L
2024 Third quarter - P&L In € millions Q3 2023 Q3 2024 % change Net sales 2,012.5 2,018.7 +0.3% Gross profit 1,035.7 1,032.2 -0.3% as % of sales 51.5% 511% Adjusted operating profit 408.8 403.0 -1.4% as % of sales 20.3% 20.0%) (i) Amortization & depreciation of revaluation of assets at the time of a
Slide 39: 2024 Nine months - adjusted operating profit by region
2024 Nine months - adjusted operating profit before and after other operating income (expense) by geographical region 9M 2024 E North and Rest of Total (in € millions) urope entra the World ota America Net sales 2,604.3 2,528.2 1,096.5 6,229.0 Cost of sales (1,179.3) (1,208.8) (594.5) (2,982.6) Admi
Slide 40: 2023 Nine months - adjusted operating profit by region
2023 Nine months - adjusted operating profit before and after other operating income (expense) by geographical region North ani 9M 2023 E c ‘ane Rest of Total (in € millions) urope en ra the World ofa America Net sales 2,757.5 2,497.6 1,052.2 6,307.3 Cost of sales (1,262.3) (1,175.3) (566.6) (3,004.
Slide 41: 2024 First quarter - adjusted operating profit by region
2024 First quarter - adjusted operating profit before and after other operating income (expense) by geographical region North ani Q1 2024 Eur c ne i Rest of Total (in € millions) urope —wenira’ the World America Net sales 918.9 767.5 341.8 2,028.2 Cost of sales (411.2) (357.3) (183.5) (952.0) Admini
Slide 42: 2023 First quarter - adjusted operating profit by region
2023 First quarter - adjusted operating profit before and after other operating income (expense) by geographical region QI 2023 E North ane Rest of Total (in € millions) urope en ra the World ofa America Net sales 978.2 829.2 342.2 2149.6 Cost of sales (436.6) (389.6) (183.9) (1,010.1) Administrativ
Slide 43: 2024 Second quarter - adjusted operating profit by region
2024 Second quarter - adjusted operating profit before and after other operating income (expense) by geographical region Q2 2024 E North ane Rest of Total (in € millions) urope en ra the World ofa America Net sales 898.4 891.8 391.9 2182.1 Cost of sales (399.5) (433.6) (211.0) (1,044.1) Administrati
Slide 44: 2023 Second quarter - adjusted operating profit by region
2023 Second quarter - adjusted operating profit before and after other operating income (expense) by geographical region Q2 2023 E North ane Rest of Total (in € millions) urope en ra the World ofa America Net sales 936.0 837.4 371.8 2145.2 Cost of sales (427.9) (391.0) (198.4) (1,017.3) Administrati
Slide 45: 2024 Third quarter - adjusted operating profit by region
2024 Third quarter - adjusted operating profit before and after other operating income (expense) by geographical region Q3 2024 E North ane Rest of Total (in € millions) urope en ra the World ofa America Net sales 787.0 868.9 362.8 2,018.7 Cost of sales (368.6) (417.9) (200.0) (986.5) Administrative
Slide 46: 2023 Third quarter - adjusted operating profit by region
2023 Third quarter - adjusted operating profit before and after other operating income (expense) by geographical region Q3 2023 E North ane Rest of Total (in € millions) urope en ra the World ofa America Net sales 843.3 831.0 338.2 2,012.5 Cost of sales (397.8) (394.7) (184.3) (976.8) Administrative
Slide 47: 2024 Nine months - reconciliation of cash flow from operations with profit
2024 Nine months- reconciliation of cash flow from operations with profit In € millions 9M 2023 9M 2024 Profit 937.5 833.9 Depreciation, amortization and impairment 260.3 266.3 Changes in other non-current assets and liabilities and long-term deferred taxes 51.6 56.9 Unrealized exchange (gains)/loss
Slide 48: 2024 Nine months - reconciliation of free cash flow and normalized free cash flow
2024 Nine months - reconciliation of free cash flow and normalized free cash flow with cash flow from operations NINE-MONTH RESULTS 2024 In € millions 9M 2023 9M 2024 % change Cash flow from operations 1,267.3 1163.5 -8.2% as % of sales 20.1% 18.7% Decrease (Increase) in working capital requirement
Slide 49: Scope of consolidation (1/2)
Scope of consolidation (1/2) 2023 Full consolidated method GEIGER Emos UsysTEMS VOLTADIS A. & H. MEYER Power CoNTROL ENCELIUM CLAMPER TEKNICA MSS NINE-MONTH RESULTS 2024 Qi 3 months 3 months 3 months Balance sheet only Balance sheet only Balance sheet only Balance sheet only Balance sheet only H1 6
Slide 50: Scope of consolidation (2/2)
Scope of consolidation (2/2) 2024 Full consolidated method VOLTADIS A. & H. MEYER Power CONTROL ENCELIUM CLAMPER TEKNICA MSS ZPE SysTEMS ENOVATION NETRACK DAVENHAM Vass UPSISTEMAS NINE-MONTH RESULTS 2024 Qi 3 months 3 months 3 months 3 months 3 months 3 months Balance sheet only Balance sheet only H
Slide 51: Investor Relations
s INVESTOR RELATIONS LEGRAND Ronan MARC Tel: +33 (0)1 49 72 53 53 ronan.marc@legrand.com PRESS RELATIONS TBWA Corporate Lucie DAUDIGNY Mob: +33 (0)6 77 20 7111 lucie.daudigny@tbwa-corporate.com NINE-MONTH RESULTS 2024 tl fégrand 31
Slide 52: Disclaimer
Disclaimer The information contained in this presentation has not been independently verified and no representation or warranty expressed or implied is made as to, and no reliance should be placed on, the fairness, accuracy, completeness or correctness of the information or opinions contained herein