Legrand SA (LGRDY) Q1 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Mr. Roman and I are happy to welcome you to the Legrand 2025 QOM conference call and webcast. As you know, we have published today a press release, financial statements, and a slideshow to which we will refer. After a few opening remarks, we will comment the results into more details. I begin on page 4 of the deck with the three key highlights of this release. First, Legrand reports strong growth in sales, with an acceleration of growth in data centers, together with very solid results in Q1, in line with our expectations. Second, we are actively executing our strategic plan for 2030. And third, we confirm our full-year targets. We will also touch a few words on the key topics on the agenda of our incoming general meeting of shareholders. Moving to pages 6 and 7, I will start with an overview of sales. In the first quarter of 2013-2025, excluding ethics, our sales grew by plus 11.2%, with another growth of plus 7.6%, and a positive scope from acquisitions of plus 3.3%. Pays on acquisitions made so far and the likely dates of consolidation, the overall impact will be more than plus 4% full year, but of course we are targeting to complete more deals in the coming months. Regarding the FX effect, it had a positive plus 1% impact on the quarter, and based on the average rates of April, it would be close to minus 2% for the full year, Of course, again, given the current volatility of currencies, it could be quite different at the end of the year. On page 7, you will find the key takeaways per geographies on a like-for-like basis. In Europe, with a building market that remains sluggish overall in most countries, sales were almost flat organically at minus 0.3% in Q1. In North and Central America, sales grew an impressive plus 18.7% in Q1, boosted by an outstanding performa...