Stocks
Legrand: 2026 First-Half Results
LIMOGES, France, July 29, 2026--Regulatory News: Legrand (Paris:LR):
About this update from Legrand Sa
Legrand delivers a strong first-half performance, with another period of record sales growth of +17% excluding currency effects and continued excellent profitability Organic sales growth: +9.8% Growth through acquisitions: +6.9% Adjusted operating margin after acquisitions: 20.8% Net profit attributable to the Group: +11.2% 7 acquisitions, all in buoyant energy and digital transition markets since the beginning of the year 2026 full-year targets revised upward LIMOGES, France, July 29, 2026 --( BUSINESS WIRE )--Regulatory News: Legrand (Paris:LR): Benoît Coquart, Legrand's Chief Executive Officer, commented: "In the first half of 2026, Legrand delivered record sales growth of +17% excluding currency effects, driven by datacenters, energy transition-related offerings and acquisitions. Financial performance remained outstanding, reflecting both the quality of our market positions and the execution capabilities of our teams in a fast-changing geopolitical and economic environment. We are continuing to implement our strategic roadmap with determination, supported by a steady stream of new product launches and the completion of seven acquisitions since the beginning of the year, including one announced today. These acquisitions are all highly value-creating and focused on the fast-growing energy and digital transition markets —datacenters, the energy transition and digital lifestyles— which already accounted for 53% of Group sales at the end of 2025. Confident in our action plans, and in light of our strong first-half performance, we are raising our full-year 2026 targets. Lastly, our next Capital Markets Day will take place in Singapore on September 29, 2026, alongside Data Centre World Asia. The event will provide an opportunity to review progress toward our 2030 ambitions and set out our solutions and strategic roadmap for datacenters in greater detail." 2026 full-year targets revised upward 1 In 2026, the Group continues to accelerate its profitable and responsible growth, in line with its strategic roadmap2. Based on its first-half performance and the current global macroeconomic environment, Legrand is now targeting the following in 2026: Financial performance at June 30, 2026 Key figures Consolidated sales In the first half of 2026, sales grew +13.1% from the same period of 2025, to reach €5,400.3 million. Organic sales growth was +9.8% for the period. The impact of broader scope of consolidation was +6.9% in the first half of 2026. Based on acquisitions announced and their likely dates of consolidation, their overall impact would be around +8% full year. The exchange-rate effect on sales in the first half of 2026 was -3.7%. Based on average exchange rates in June 2026, the full-year effect would be around -1.5% in 2026. Changes in sales by destination at constant scope of consolidation and exchange rates by region: These changes are analyzed below by geographical region: Adjusted operating profit and margin Adjusted operating profit stood at €1,123.6 million, up +12.0% from the first half of 2025. This corresponds to an adjusted operating margin equal to 20.8% of sales, slightly down compared to the first half of 2025. In the first half of 2026, EBITDA represented 23.4% of sales. Despite inflationary pressure on its cost base, the Group maintained a high level of profitability in the first half. This was supported by strong execution and adaptability, including effective pricing and cost productivity, as well as the contribution from recent acquisitions. Value creation Net profit attributable to the Group came to €698.2 million in the first half, up +11.2% from the first half of 2025 and equal to 12.9% of sales. This increase was driven primarily by higher operating profit, a lower corporate income tax rate of 27.5%, and the negative evolution of the financial result. Free cash flow represented 9.0% of sales for the period, totalling €488.3 million. Performance and positioning in datacenters The Group's strong organic growth in the first half was driven in particular by its datacenter business, which delivered organic growth of above +30% and now accounts for 32% of Legrand's revenue. Legrand has built one of the broadest offering of the industry, spanning on-site power generation and facility testing. Its portfolio includes more than 140,000 product references and a growing range of services, including engineering services, on-site support, testing and commissioning. The Group is particularly well positioned to support the development of high-density AI datacenters through scalable, highly engineered solutions tailored to the specific needs of hyperscalers, colocation, neocloud providers and enterprise customers. Legrand supports its customers' growth by focusing on product innovation and operational excellence -in particular by optimizing its supply chain- and pursues an active acquisitions strategy to strengthen its product offering and geographic footprint. Sustained acquisition momentum Legrand continues to actively execute its development strategy with the acquisition announced today of Axel Health 1 , a Finnish leading provider in connected health for patient flow management solutions. Headquartered in Espoo, Finland, the company employs around 50 people and generates annual revenue of approximately €10 million. Following the acquisitions of Enovation and Performation in the Netherlands, Axel Health marks further expansion of Legrand Care's connected health solutions. This acquisition follows six transactions previously announced since the beginning of the year in the datacenter and energy transition markets: Focused on the energy and digital transition sectors (datacenters, energy transition and digital lifestyles), these transactions further strengthen the Group's leadership positions in these high-growth markets and together add approximately €450 million in annual revenue. Numerous product innovations The Group has launched numerous products since the beginning of the year, illustrating its innovation momentum. Examples include: The consolidated financial statements for the first half of 2026 were subject to a limited review by the Group's auditors and were adopted by the Board of Directors at its meeting on July 28, 2026. These consolidated financial statements, a presentation of 2026 first-half results, and the related teleconference (live and replay) are available at www.legrand.com . Key financial dates About Legrand Legrand is the global specialist in electrical and digital building infrastructures. Its comprehensive offering of solutions for residential, commercial, and datacenter markets makes it a benchmark for customers worldwide. The Group harnesses technological and societal trends with lasting impacts on buildings with the purpose of improving life by transforming the spaces where people live, work and meet with electrical, digital infrastructures and connected solutions that are simple, innovative and sustainable. Drawing on an approach that involves all teams and stakeholders, Legrand is pursuing a strategy of profitable and responsible growth driven by acquisitions and innovation, with a steady flow of new offerings that include products with enhanced value in use. Legrand reported sales of €9.5 billion in 2025. The company is listed on Euronext Paris and is a component stock of the CAC 40, CAC 40 ESG and CAC Transition Climat indexes (code ISIN FR0010307819). https://www.legrand.com Appendices Glossary Working capital requirement: Working capital requirement is defined as the sum of trade receivables, inventories, other current assets, income tax receivables and short-term deferred tax assets, less the sum of trade payables, other current liabilities, income tax payables, short-term provisions and short-term deferred tax liabilities. Free cash flow: Free cash flow is defined as the sum of net cash from operating activities and net proceeds from sales of fixed and financial assets, less capital expenditure and capitalized development costs. Organic growth: Organic growth is defined as the change in sales at constant structure (scope of consolidation) and exchange rates. Net financial debt: Net financial debt is defined as the sum of short-term borrowings and long-term borrowings, less cash and cash equivalents and marketable securities. EBITDA: EBITDA is defined as operating profit plus depreciation and impairment of tangible assets, amortization and impairment of intangible assets (including capitalized development costs) and impairment of goodwill. Cash flow from operations: Cash flow from operations is defined as net cash from operating activities excluding changes in working capital requirement. Adjusted operating profit: Adjusted operating profit is defined as operating profit adjusted for amortization and depreciation of revaluation of assets at the time of acquisitions and for other P&L impacts relating to acquisitions, and where applicable, impairment of goodwill. CSR: Corporate Social Responsibility. Payout: Payout is defined as the ratio between the proposed dividend per share for a given year, divided by the net profit attributable to the Group per share of the same year, calculated on the basis of the average number of ordinary shares at December 31 of that year, excluding shares held in treasury. Calculation of working capital requirement Calculation of net financial debt Reconciliation of adjusted operating profit with profit for the period Reconciliation of EBITDA with profit for the period Reconciliation of cash flow from operations and free cash flow with profit for the period Scope of consolidation Disclaimer This press release may contain forward-looking statements, relating to Legrand's financial situation as well as certain sustainability issues relevant to its activities, which are not historical data. Although Legrand considers these statements to be based on reasonable hypothesis and assumptions at the time of publication of this document, they are subject to various risks and uncertainties that could cause actual results to differ from those expressed or implied herein. Details on risks are provided in the most recent version of Legrand Universal Registration Document filed with the Autorité des marchés financiers (French Financial Markets Authority, AMF), which is available on-line on the websites of both AMF ( www.amf-france.org ) and Legrand ( www.legrand.com ). Investors and holders of Legrand securities are reminded that no forward-looking statement contained in this press release is or should be construed as a promise or a guarantee of actual results by Legrand or anyone else which are liable to differ significantly. Therefore, such statements should be used with caution taking into account their inherent uncertainty. The forward-looking statements contained in this press release are only valid on the date of its publication. Subject to applicable regulations. Legrand does not undertake to update these statements to reflect events, information or circumstances occurring after the date of publication of this release. This press release does not constitute an offer to sell or a solicitation of an offer to buy Legrand securities in any jurisdiction. Readers are invited to verify the authenticity of Legrand press releases with the CertiDox app. Learn more at www.certidox.com View source version on businesswire.com: https://www.businesswire.com/news/home/20260728474035/en/ Contacts Investor relations & financial communication Ronan MARC (Legrand) +33 1 49 72 53 53 [email protected] Press relations Delphine CAMILLERI (Legrand) + 33 5 55 06 70 15 [email protected]