Legrand: Q1 net income down 16.5%

(CercleFinance.com) - Legrand has reported a 16.
5% drop in net income (group share) for Q1 2024, to E275.9m, with an adjusted operating margin before acquisitions that is down 1.6 point at 20.6%.

The electrical infrastructure supplier's sales fell 5.6% to E2.03bn. In a shrinking building market, its sales were down 5.4% in organic terms, including -5% in mature countries and -6.5% in new economies.

Taking into account the current macroeconomic outlook, Legrand confirms its target for 2024 of an adjusted operating margin before acquisitions of between 20% and 20.8%, and a slight growth in sales, both organic and through acquisitions, on a 'low single digit' basis.


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