Legrand SA (LGRDY) Q3 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good morning, ladies and gentlemen, and welcome to today's Legrand 2025 nine-month results conference call. For your information, this conference is being recorded. All participants are in a listen-only mode. Later, there will be a question-and-answer session. At this time, I would like to hand the call over to CEO, Mr. Benoit Coucart, and CFO, Mr. Franck Lemery. Please go ahead, sir. Thank you very much. Good morning, everybody. Franck, Lemery, Roland-Marc, and myself are happy to welcome you to the Legrand 2025 nine-month result conference call and webcast. Please note that, as usual, this call is recorded. We have published today our press release, financial statements, and a slideshow to which we will refer. I begin on page four with the three key highlights of this release. First, Legrand delivered robust sales growth and very solid margins over nine months. Second, we are sustaining a strong acquisition momentum. And third, our 2025 full-year targets, right in July, are confirmed. So moving to page six, I will start with another view of sales. Over nine months, excluding FX, our sales grew by plus 14.5%. This includes an organic growth of plus 8.2%, driven by an outstanding performance in data centers of well above plus 30%. This also includes a positive scope effect of plus 5.8%, and based on acquisitions announced and their likely dates of consolidation, the full impact of scope changes should be around plus 5%. For exchange rates, effect was a negative minus 2.2% in the first nine months of 2025, and based on the rates of the month of October, it would be around minus 3% for the full year. On page 7, you will find the key takeaways per geography on a like-for-like basis. In Europe, in a market that remains overall contrasted, sales were up plus 1.5% over the...