Legrand SA (LGRDY) Q1 2026 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good morning, everybody. Franck Lemery, Roland Marc, and I are happy to welcome you to Legrand Q1 2026 conference call and webcast. As you know, this morning we published our press release, financial statements, and the slideshow that we will refer to during the call. After a few opening remarks, we will comment the results into more details. Let me start on page four with the key highlights of the quarter. First, Legrand delivered strong sales growth driven by data centers and acquisitions while maintaining excellent profitability. Second, we announced four very exciting acquisitions since the beginning of the year. Third, we confirmed a full year 2026 targets. Moving to pages six and seven, I will start with an overview of sales. Sales delivered strong growth of plus 18.3% excluding currency effects. comprising organic growth of plus 9.3%, with a strong contribution of data center offerings growing like for like around plus 30%, and growth through acquisitions of plus 8.2%. Based on acquisitions announced and the likely date of consolidation, the overall impact of acquisitions should be close to plus 7% for the full year. The FX effect was minus 5.8% for the quarter. Based on average exchange rates in April 2026, the full-year currency effect would be around minus 2%. On page 7, you will find the key takeaways per geographies on a life-for-life basis. Europe saw sales down minus 2.8% in a building market that remains contrasted. North and Central America delivered a strong plus 25.8% performance, driven by strong success of data center-related offerings in the U.S. Lastly, the rest of the world was down minus 1.8% in the first quarter, despite a very nice growth in India. Sales in the Middle East, which stood only at 1.7% of FY 2025 sales, were not impacted by the ...