Legrand SA (LGRDY) Q3 2025 Earnings Call

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WEBVTT 00:00:00.031 -- 00:00:05.479 Good morning, ladies and gentlemen, and welcome to today's Legrand 2025 nine-month 00:00:05.479 -- 00:00:11.008 results conference call. For your information, this conference is being recorded. 00:00:11.008 -- 00:00:13.852 All participants are in a listen-only mode. 00:00:13.852 -- 00:00:16.837 Later, there will be a question-and-answer session. 00:00:16.837 -- 00:00:21.224 At this time, I would like to hand the call over to CEO, Mr. 00:00:21.224 -- 00:00:25.430 Benoit Coucart, and CFO, Mr. Franck Lemery. 00:00:25.430 -- 00:00:27.706 Please go ahead, sir. 00:00:27.706 -- 00:00:30.969 Thank you very much. Good morning, everybody. 00:00:30.969 -- 00:00:36.034 Franck, Lemery, Roland-Marc, and myself are happy to welcome you to the Legrand 00:00:36.034 -- 00:00:40.277 2025 nine-month result conference call and webcast. 00:00:40.277 -- 00:00:44.041 Please note that, as usual, this call is recorded. 00:00:44.041 -- 00:00:49.386 We have published today our press release, financial statements, and a slideshow to which 00:00:49.386 -- 00:00:54.790 we will refer. I begin on page four with the three key highlights 00:00:54.790 -- 00:01:00.056 of this release. First, Legrand delivered robust sales growth 00:01:00.056 -- 00:01:03.300 and very solid margins over nine months. 00:01:03.300 -- 00:01:07.125 Second, we are sustaining a strong acquisition momentum. 00:01:07.125 -- 00:01:13.673 And third, our 2025 full-year targets, right in July, are confirmed. 00:01:13.673 -- 00:01:17.158 So moving to page six, 00:01:17.158 -- 00:01:22.224 I will start with another view of sales. Over nine months, excluding FX, 00:01:22.224 -- 00:01:25.906 our sales grew by plus 14.5%. 00:01:26.127 -- 00:01:29.969 This includes an organic growth of plus 8.2%, 00:01:3...