Legrand SA (LGRDY) Q2 2025 Earnings Call

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WEBVTT 00:00:00.267 -- 00:00:05.795 Hello, everybody. Good morning. So, Franck, Romain, and I are happy to welcome you 00:00:05.795 -- 00:00:08.259 to the Legrand 2025 H1 00:00:08.259 -- 00:00:11.484 Result Conference Call and Webcast. 00:00:11.484 -- 00:00:16.672 As you know, we have published today a press release, financial statements, and a slideshow 00:00:16.672 -- 00:00:22.260 to which we will refer. I begin on page four of the slideshow 00:00:22.260 -- 00:00:26.166 with the three key highlights of this press release. 00:00:26.166 -- 00:00:31.798 First, Legrand delivered Very solid results in the first half of 2025 with 00:00:31.798 -- 00:00:33.380 strong 00:00:33.380 -- 00:00:36.604 sales growth and high profitability. 00:00:36.604 -- 00:00:41.790 Second, we have revised our 2025 full-year targets upwards, both 00:00:41.790 -- 00:00:45.294 in terms of sales and adjusted operating margin. 00:00:45.294 -- 00:00:50.239 And third, we are actively rolling out our strategy, strengthening our confidence in 00:00:50.239 -- 00:00:55.445 reaching the upper end of our 2030 revenue target range 00:00:55.445 -- 00:00:59.279 of around 15 billion euros. 00:00:59.279 -- 00:01:04.685 So moving to page six, I will start with an overview of sales. 00:01:04.685 -- 00:01:07.127 In the first half of 2025, 00:01:07.127 -- 00:01:12.713 excluding FX, our sales grew by plus 15%. This 00:01:12.713 -- 00:01:16.117 includes an organic growth of plus 9%, 00:01:16.117 -- 00:01:21.300 driven by an outstanding performance in data centers. 00:01:21.643 -- 00:01:27.227 On Q2 alone, our organic growth was of plus 10.1%. 00:01:27.595 -- 00:01:32.378 This also includes a positive scope effect of plus 5.5%, 00:01:32.541 -- 00:01:37.607 and based on the acquisitions announced so far, the full year s...