Legrand: 2020 earnings down 18%
(CercleFinance.com) - Legrand has published 2020 net income, group share that is down 18.
4% at 681.2 million euros, with an adjusted operating margin before acquisitions of 19.1%, on sales of 6.1 billion euros, down 7.9% (-8.7% in organic terms).
Its board of directors will propose the payment of a dividend of 1.42 euro per share for 2020, compared to 1.34 euro for 2019, i.e. a payout rate of 56%.
Legrand has set its 2021 targets of organic sales growth of between +1% and +6% and an adjusted operating margin before acquisitions (at 2020 scope) of between 19.2 and 20.2%.
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