Legrand: Q1 earnings rise 28%

(CercleFinance.com) - Legrand has reported a 28% increase in net income, group share, to E330.
5m, or E1.24 per share, for Q1 2023, with an adjusted operating margin of 22.2% of sales for the period.

Before acquisitions (on a 2022 basis) and excluding Russia, the electrical equipment supplier's adjusted operating margin reached 22.6% of sales, 2.3% better than in Q1 2022.

Sales increased 9% to E2.15bn, including organic growth of 7.4% over the period (+5.6% in mature countries and +12.9% in new economies).

Legrand confirms that it is targeting sales growth +2% to +6% in 2023, excluding FX factors (including a consolidation scope effect of around +3%), and an adjusted operating margin before acquisitions (at 2022 consolidation scope, excluding Russia and related impacts) of around 20%.


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