Legrand reports record results in
2021
Total growth in sales: +14.7%
Adjusted operating margin: 20.5% of sales
Rise in net profit attributable to the Group:
+32.8%
Normalized free cash flow: 15.4% of sales
Solid extra-financial performance
CSR achievement rate: 131% in 2021
Reduction in CO2 emissions: -28% over 3 years
(constant)
Continued deployment of strategic
roadmap
Including announcement of 2 new acquisitions: a
total of 4 over one year
2022 full-year targets
Growth in sales excluding exchange rate
impacts: +5% to +11%
Adjusted operating margin: ~20% of sales
Regulatory News:
Legrand (Paris:LR):
On the closing of full-year accounts for 2021, Benoît
Coquart, Legrand’s Chief Executive Officer, commented:
“In 2021, Legrand reported record results reflecting, once
again, the Group’s agility and resilience in a moving environment
(volatile pandemic situation, strong and rising pressure on supply
chains). Full-year 2021 sales of nearly €7 billion were up +14.7%,
with a rise of +5.6% over two years. This performance was driven by
a marked +13.6% organic growth year on year, and +3.7% over two
years. It reflects in particular the Group’s stronger competitive
positions in its markets.
Adjusted operating margin for the year came to 20.5% of sales,
net profit was up +32.8% from 2020, i.e., +8.3% from 2019, and
normalized free cash flow stood at 15.4% of 2021 sales.
These showings confirm Legrand’s position as an industry’s
benchmark.
In 2021, our Group actively pursued its investments and
initiatives for growth, focusing in particular on faster expanding
segments (datacenters, connected products, and energy efficiency
programs). Legrand thus launched a number of new products, rolled
out offerings geographically, stepped up digital commercial
relationship, and acquired bolt-on companies – 4 over one year,
including 2 announced today. These acquisitions expand Legrand’s
leadership positions in different countries and strengthen its
presence in faster expanding segments as well as in promising
channels to markets.
The Group also turned in a very good CSR performance. At the end
of its fourth roadmap, covering 2019-2021, Legrand had reached a
131% achievement rate, with strong achievements in all three areas
– Environment, People and Business Ecosystem. We are particularly
proud to have reduced scopes 1 and 2 CO2 emissions by -28% and to
have raised the share of women among our managers by +18% over
these three years. Our fifth CSR roadmap runs over the 2022-2024
period and marks a bold new departure. It will be unveiled at a
Capital Markets Day dedicated to the Group’s ESG strategy on March
29, 2022.
We owe these strong showings to our customers, our partners and
our own teams, who have demonstrated unwavering commitment since
the very start of the pandemic – employees engagement rate was 80%
in 2021, significantly higher than in 2017.
These 2021 achievements and 2022 targets are an integral part of
Group’s strategic roadmap and mid-term targets for accelerating
value-creating growth1. Legrand is a unique and perfectly
positioned player, with a fine-tuned strategy designed to make the
most of the acceleration in the trends that structurally drive its
market – from electrification to a focus on comfort and energy
efficiency, along with digitalization.”
Proposed dividend
Legrand’s Board of Directors will ask the General Meeting of
Shareholders to be held on May 25, 2022 to approve the payment of a
dividend of €1.65 per share in respect of 2021. This represents a
rise of +16.2% from 2020, and a payout ratio of nearly 50%, in line
with the Group’s mid-term targets.
The ex-dividend date is May 30, 2022 with payment2 on June 1,
2022.
2022 full-year targets
In 2022, Legrand will pursue its strategy of profitable and
responsible development laid out in its strategic roadmap1.
Taking into account current macroeconomic outlook and assuming
no marked worsening in supply chains, Legrand is aiming for the
following full-year targets in 2022:
- growth in sales at constant exchange rates of between +5% and
+11%, with (i) organic growth of between +3% and +7% and (ii) a
scope of consolidation effect of between +2% and +4%;
- an adjusted operating margin of about 20% of sales, with (i) a
margin of between 19.9% and 20.7% before acquisitions (at 2021
scope of consolidation) and (ii) dilution from acquisitions of
between -20 and -40 basis points.
The Group also aims to reach around 100% of CSR achievement for
the first year of its 2022-2024 roadmap, testifying to its bold and
exemplary approach to ESG.
1
For more information, readers are referred
to the press release dated September 22, 2021.
2
This distribution will be made in full out
of the distributable income.
Financial performance at December 31, 2021
Key figures
Consolidated data
(€ millions)(1)
2019
2020
2021
Change
1 year
Change
2 years
Sales
6,622.3
6,099.5
6,994.2
+14.7%
+5.6%
Adjusted operating profit
1,326.1
1,156.0
1,434.0
+24.0%
+8.1%
As % of sales
20.0%
19.0%
20.5%
20.8% before acquisitions(2)
Operating profit
1,237.4
1,065.4
1,344.1
+26.2%
+8.6%
As % of sales
18.7%
17.5%
19.2%
Net profit attributable to the Group
834.8
681.2
904.5
+32.8%
+8.3%
As % of sales
12.6%
11.2%
12.9%
Normalized free cash flow
1,009.8
1,034.2
1,074.1
+3.9%
+6.4%
As % of sales
15.2%
17.0%
15.4%
Free cash flow
1,044.3
1,029.1
952.4
-7.5%
-8.8%
As % of sales
15.8%
16.9%
13.6%
Net financial debt at December 31
2,480.7
2,602.8
2,524.2
-3.0%
+1.8%
(1)
See appendices to this press release for
definitions and indicator reconciliation tables.
(2)
At 2020 scope of consolidation.
Consolidated sales
In 2021, full-year sales rose +14.7% from 2020 to total €6,994
million.
Organic growth in sales was +13.6%, including +11.6% in mature
countries and +19.6% in new economies. This growth reflects the
Group’s stronger competitive positions as well as the success of
its development and pricing initiatives, and came despite pressure
on supply chains that gathered strength from the third quarter 2021
on.
The impact of broader scope of consolidation was +3.0%. Based on
acquisitions announced, excluding that of Emos1, whose date of
consolidation will be set once the operation has been finalized,
this impact should be around +2% full year in 2022.
The exchange-rate effect on sales was -2.0% for the year. Based
on average exchange rates in January 2022, the full-year
exchange-rate effect on sales would be around +2% in 2022.
Changes in sales by destination at constant scope of
consolidation and exchange rates by region:
2021 / 2020
4th quarter 2021 / 4th quarter
2020
Europe
+17.1%
+5.2%
North and Central America
+8.7%
+11.2%
Rest of the world
+16.9%
+3.5%
Total
+13.6%
+7.0%
1
Subject to standard conditions
precedent.
These changes are analyzed below by geographical region1:
- Europe (40.9% of Group revenue): organic growth was
+17.1% from 2020.
In Europe’s mature countries (35.0% of Group revenue), sales
rose +16.5% over the year, including +2.6% in the fourth quarter
alone. Drivers of the year’s performance included strong showings
in France and Italy, linked to many commercial successes, notably
in faster expanding segments (connected products, solutions for
datacenters, and energy efficiency).
Sales in Europe’s new economies rose +20.0% in 2021, including
+22.7% in the fourth quarter alone, with significant increases in
Turkey and in Eastern Europe over full year.
- North and Central America (38.6% of Group revenue):
sales increased +8.7% at constant scope of consolidation and
exchange rates in 2021.
In the United States alone (35.4% of Group revenue), sales rose
+7.4% in 2021 and were also up +12.1% in the fourth quarter alone.
Full year, sales in solutions for datacenters increased strongly
and did still well in residential spaces, while demand from other
non-residential spaces grew as well, without going back to the 2019
level.
Sales showed a substantial rise over the year in both Mexico and
Canada.
- Rest of the world (20.5% of Group revenue): sales
marked an organic rise of +16.9% from 2020.
In Asia-Pacific (13.1% of Group revenue), sales rose +14.3% in
2021 and +3.4% in the fourth quarter alone. Strong growth over the
12-month period came in particular from double-digit increases in
many countries, including China and India, and a less marked rise
in Australia.
In Africa and the Middle East (3.7% of Group revenue), sales
rose +13.2% from 2020 and gained +4.6% in the fourth quarter alone.
Full year, the region’s performance was buoyed by strong momentum
in Africa, while business declined in the Middle East.
In South America (3.7% of Group revenue), sales increased +31.0%
in 2021, including +2.8% in the fourth quarter alone. All main
countries in the region reported double-digit growth over the
year.
1
For more information on organic trends in
sales over two years (compared with 2019), readers are invited to
consult the appendix on page 11 of this press release.
Adjusted operating profit and margin
Adjusted operating profit for 2021 stood at €1,434 million, up
+24.0% from 2020 and +8.1% from 2019. This sets the adjusted
operating margin for the period at 20.5% of sales.
Before acquisitions (at 2020 scope of consolidation), adjusted
operating margin for the year came to 20.8% in 2021, which
represents a +1.8-point rise from 2020.
This rise in profitability came despite an inflation of over
+11% on raw material and components during the year (including
nearly +17% in the fourth quarter alone), and reflects the Group’s
very selective and targeted management of production,
administrative and commercial expenses, as well as its pricing
initiatives.
Net profit attributable to the Group
At December 31, 2021, net profit attributable to the Group was
up +32.8% at €904 million. This €223 million rise on 2020 came
primarily from:
- strong rise in operating profit (+€279
million);
- favorable change (+€16 million) in
financial results; and
- the rise in corporate income tax (-€73
million on the net profit; the 28.0% corporate tax rate in 2021 was
one point lower than in 2020).
Cash generation and balance sheet structure
Cash flow from operations (€1,318 million) stood at 18.8% of
2021 full-year sales, representing a
+0.6-point rise from the previous year.
Normalized free cash flow came to 15.4% of sales or €1,074.1
million, a +3.9% rise in value compared with 2020.
Free cash flow was 13.6% of 2021 sales, including strengthened
coverage of inventories amid supply-chain pressure.
The ratio of net debt to EBITDA was 1.5 for the year.
Group financing reflects Legrand’s extra-financial and climate
commitments with:
- a pioneering multi-currency syndicated
loan; since 2019, this loan’s cost has been partly linked to the
CSR roadmaps’ yearly achievement rate;
- the successful launch of a first
Sustainability-Linked 10-year bond1 in 2021. The issue is indexed
on the Group’s carbon neutrality trajectory and its 2030 targets
for reducing greenhouse gas emissions that were validated by
SBTi.
1
For more information, readers are invited
to read the press release dated September 29, 2021, as well as
other documentation linked to this sustainability-linked bond issue
– including the Sustainability-Linked Financing Framework – which
are available at
https://www.legrandgroup.com/en/endettement-investisseurs-obligataires.
Solid extra-financial performance
Legrand’s 4th CSR roadmap: 131% achievement rate
At the end of its fourth CSR roadmap, covering 2019-2021,
Legrand had overall reached a 131% achievement rate, scoring over
100% in each of the three areas that underpin its commitments.
Key achievements over this three-year period included:
- a -28% reduction in carbon emissions
directly related to its business (scopes 1 & 2) at constant
perimeter and compared with 2018. This was done through improved
energy efficiency of the Group’s sites and increased use of
sustainable sources of energy;
- a -22% reduction in emissions of Volatile
Organic Compounds (VOC) from 2018;
- a +18% rise in the ratio of women amongst
employed managers (Hay Grade 14 and up), which stood at 26.7% at
the end of 2021;
- 97% of employees now covered by Legrand’s
“Serenity On” welfare program, which offers guaranteed standard
cover for health insurance, parental leave, and death and
disability benefits;
- a -46% decline in accidents frequency rate
with and without lost time (FR2) compared with 2018;
- training of over 21,000 employees in
business ethics; and
- an employees commitment rate of 80%, a
steep increase from the last survey, taken in 2017.
Also in 2021, Legrand pursued its long-term sustainability
programs:
- fighting global warming by intensifying its
efforts to reduce the Group’s carbon footprint (Scopes 1, 2 &
3) and targeting full neutrality by 2050. The Group also aligned on
a 1.5°C rise trajectory, setting 2030 objectives in keeping with
the Paris Agreement and validated by the SBTi1;
- promoting the circular economy and energy
transition by designing eco-responsible products that accounted for
around 75% of sales in 2021;
- supporting communities suffering from power
insecurity, one example being the ongoing partnership that began in
2007 with Electriciens sans Frontières, thus favoring access to an
electrical infrastructure for 2.9 million people since 2007,
including 190,000 in 2021 alone; and
- promoting an ever more inclusive workplace
environment, with inhouse networks to promote diversity and
inclusion regardless of gender (Elle@Legrand), sexual orientation
(Legrand Rainbow) and ethnic minorities (Black Professional
Network).
ESG Capital Markets Day on March 29, 2022
Legrand is stepping up its commitment to ESG, which began in
2004. The main areas of this engagement will be the focus of an
online Capital Markets Day on March 29, 2022, including a
presentation of the Group’s 2022-2024 fifth CSR roadmap.
1
For more information, readers are referred
to the press release dated July 30, 2021.
Continued deployment of strategic roadmap
Leveraging growth actively
Legrand has built a reputation for innovative, reliable,
well-designed products, and is constantly adding solutions offering
greater value in use to its catalogs. Each year, the Group devotes
around 5% of revenue to R&D on average, contributing to nearly
2/3 of sales made through leadership1 positions. In 2021,
offerings roll-outs included a number of new solutions dedicated
to:
- energy efficiency, including Nemo Easy
Connect to measure energy consumption of buildings, and new busbar
lines marketed under the Starline brand;
- digital infrastructures for datacenters,
with Infinium Fiber Solutions for optic fiber networks;
- flexible & remote working, with Koncis
mobile monitor mounts for office use, sold under the Chief brand,
and Vaddio Intellishot and ConferenceSHOT ePTZ cameras;
- healthcare, with Indigo-Clean EGT & MGT
Series disinfectant lighting solutions to maintain sterile
environments in non-residential spaces of all types – from
hospitals to schools;
- safety and comfort, with the new Classe 300
EOS smart door entry system, designed to operate manually, on voice
command, or through an app, as well as new user interface lines
such as Adorne & Radiant with Netatmo connected offers and the
Suno range.
The Group also continued to digitize its commercial relationship
and stepped up its presence in buoyant distribution channels and
markets such as e-commerce and Africa.
Faster expanding segments gaining momentum
In addition to its traditional growth levers, Legrand has taken
a targeted approach to its faster expanding segments2: datacenters,
connected products in the Eliot program, and energy efficiency
programs.
Underpinned by this strategy, sales in these segments rose from
around 18% in 2015 and 31% in 2020 to 33% in 2021. Total growth was
driven by each of the three segments.
Together, these marked increases reflect:
- Legrand’s ideal positioning for growth at
the heart of structural trends. These are both historical
(electrification, demographics, the emergence of middle-class
populations, etc.) and more recent (climate change, growth in
working from everywhere, rising standards of comfort, access to
increased independent living, and more);
- value-in-use of solutions offered by the
Group in all three segments, and their ongoing geographical
deployment – connected user interfaces, for example, are now sold
in 69 countries compared with 5 in 2018.
Thanks to this strategy, Legrand intends to raise the share of
faster expanding segments in its total sales to around 50% in the
medium term.
1
Ranked number 1 or 2 in a given
geographical market and market segment.
2
For more information, readers are referred
to the press release dated September 22, 2021.
Announcement of 2 new acquisitions: a total of 4 over one
year
In keeping with its policy of bolt-on1 acquisitions, Legrand has
announced two new acquisitions:
- Emos2, a Central and Eastern European
leader in electrical installation components, with particularly
strong ties to DIY distributors and local e-commerce players. This
acquisition strengthens Legrand’s presence in Europe’s buoyant new
economies and growing distribution channels. Based in Prerov in the
Czech Republic, Emos has around 400 employees and annual sales of
some €85 million, primarily in Eastern and Central Europe;
- Geiger, a German specialist in structured
cable systems used in datacenters. The company is based in
Irschenberg in Germany and has around 25 employees. Its annual
sales total some €5 million.
These two new acquisitions round out those of Ensto Bulding
Systems and Ecotap announced last July3. Together the four
companies acquired over a year represent annual sales of around
€250 million, and strengthen the Group’s leadership positions in
promising European markets – in traditional and new faster
expanding segments, as well as in particularly dynamic distribution
channels.
Approach to operational excellence
The record results reported in 2021 were also underpinned, once
again, by an operational excellence-driven approach.
Legrand focused on strengthening the pillars of its industrial
efficiency. This was achieved thanks to the Legrand Way program4
promoting best practice at 81% of Group sites; Industry 4.0
technologies, now covering 57% of main sites; and agile application
of “make or buy” and “redesign to cost & supply” principles,
particularly suitable for extreme conditions of price inflation and
pressure on supply chains.
-----------------
1
Acquisitions that complement Legrand’s
activities.
2
Subject to standard conditions
precedent.
3
For more information, readers are referred
to the press release dated July 30, 2021.
4
Program dedicated to the implementation of
best practices throughout the Group, covering in particular the
management of operational performance, new-product development,
rules for health and safety, and quality.
Consolidated financial statements for 2021 were adopted by the
Board of Directors at its meeting on February 9, 20221. These
consolidated financial statements, a presentation of full-year
results for 2021, and the related teleconference (live and replay)
are available at www.legrandgroup.com.
Key financial dates:
- ESG Digital Capital Markets Day: March 29, 2022
- 2022 first-quarter results: May 5, 2022 “Quiet period 2”
starts April 5, 2022
- General Meeting of Shareholders: May 25, 2022
- Ex-dividend date: May 30, 2022
- Dividend payment: June 1, 2022
- 2022 first-half results: July 29, 2022 “Quiet period 2”
starts June 29, 2022
About Legrand
Legrand is the global specialist in electrical and digital
building infrastructures. Its comprehensive offering of solutions
for commercial, industrial and residential 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 its strategy of profitable and
responsible growth driven by acquisitions and innovation, with a
steady flow of new offerings—including products with enhanced value
in use (faster expanding segments: datacenters, connected offerings
and energy efficiency programs). Legrand reported sales of €7.0
billion in 2021. The company is listed on Euronext Paris and is
notably a component stock of the CAC 40 and CAC 40 ESG indexes.
(code ISIN FR0010307819).
https://www.legrandgroup.com
1
The Group’s consolidated accounts as of
December 31, 2021 were approved by the Board of Directors on
February 9, 2022. The statutory auditors' audit procedures on the
consolidated financial statements have been performed. The
certification report will be issued after finalization of the
verification relating to the management report and on the
presentation in the format provided for by the ESEF Regulation
(European Single Electronic Format) of the accounts to be included
in the annual financial report.
2
Period of time when all communication is
suspended in the run-up to publication of results.
Appendices
Glossary
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, for impairment of goodwill.
Busways: electric power distribution systems based on
metal busbars.
Cash flow from operations: Cash flow from operations is
defined as net cash from operating activities excluding changes in
working capital requirement.
CSR: Corporate Social Responsibility.
EBITDA: EBITDA is defined as operating profit plus
depreciation and impairment of tangible and right of use assets,
amortization and impairment of intangible assets (including
capitalized development costs), reversal of inventory step-up and
impairment of goodwill.
ESG: Environmental, Societal and Governance.
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.
KVM: Keyboard, Video and Mouse.
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.
Normalized free cash flow: Normalized free cash flow is
defined as the sum of net cash from operating activities—based on a
normalized working capital requirement representing 10% of the last
12 months’ sales and whose change at constant scope of
consolidation and exchange rates is adjusted for the period
considered—and net proceeds of sales from 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.
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.
PDU: Power Distribution Units.
UPS: Uninterruptible Power Supply.
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.
Organic sales trends by geographical area of destination over
one and two years
Organic sales trends in percentage
(%)
2020
Change 1 year
2021
Change 1 year
2021
Change 2 years
Group
-8.7%
+13.6%
+3.7%
Europe
-7.9%
+17.1%
+7.8%
Of which Mature Europe
-9.7%
+16.5%
+5.3%
Of which Europe New Economies
+1.9%
+20.0%
+22.3%
North and Central America
-8.7%
+8.7%
-0.7%
Of which United States
-7.8%
+7.4%
-1.0%
Rest of the World
-10.3%
+16.9%
+4.9%
Of which Asia-Pacific
-7.1%
+14.3%
+6.2%
Of which South America
-14.3%
+31.0%
+12.2%
Of which Africa and Middle East
-16.6%
+13.2%
-5.5%
Calculation of working capital requirement
In € millions
2020
2021
Trade receivables
644.5
728.5
Inventories
837.3
1,252.7
Other current assets
204.8
240.4
Income tax receivables
70.1
115.1
Short-term deferred taxes
assets/(liabilities)
92.8
90.8
Trade payables
(612.9)
(810.5)
Other current liabilities
(661.8)
(774.3)
Income tax payables
(30.3)
(39.6)
Short-term provisions
(127.9)
(135.8)
Working capital requirement
416.6
667.3
Calculation of net financial debt
In € millions
2020
2021
Short-term borrowings
1,320.7
826,6
Long-term borrowings
4,073.8
4,485.9
Cash and cash equivalents
(2,791.7)
(2,788.3)
Net financial debt
2,602.8
2,524.2
Reconciliation of adjusted operating profit with profit for
the period
In € millions
2020
2021
Profit for the period
682.0
905.1
Share of profits (losses) of
equity-accounted entities
0.7
0.0
Income tax expense
279.2
351.9
Exchange (gains) / losses
10.3
1.5
Financial income
(6.1)
(6.8)
Financial expense
99.3
92.4
Operating profit
1,065.4
1,344.1
Amortization & depreciation of
revaluation of assets at the time of acquisitions and other P&L
impacts relating to acquisitions
90.6
89.9
Impairment of goodwill
0.0
0.0
Adjusted operating profit
1,156.0
1,434.0
Reconciliation of EBITDA with profit for the period
In € millions
2020
2021
Profit for the period
682.0
905.1
Share of profits (losses) of
equity-accounted entities
0.7
0.0
Income tax expense
279.2
351.9
Exchange (gains) / losses
10.3
1.5
Financial income
(6.1)
(6.8)
Financial expense
99.3
92.4
Operating profit
1,065.4
1,344.1
Depreciation and impairment of tangible
assets (including right-of-use assets)
187.4
179.4
Amortization and impairment of intangible
assets (including capitalized development costs)
146.9
127.0
Impairment of goodwill
0.0
0.0
EBITDA
1,399.7
1,650.5
Reconciliation of cash flow from operations, free cash flow
and normalized free cash flow with profit for the period
In € millions
2020
2021
Profit for the period
682.0
905.1
Adjustments for non-cash movements in
assets and liabilities:
Depreciation, amortization and
impairment
337.7
310.1
Changes in other non-current assets and
liabilities and long-term deferred
taxes
119.2
90.5
Unrealized exchange (gains)/losses
(1.5)
11.5
(Gains)/losses on sales of assets, net
(11.6)
0.7
Other adjustments
(17.1)
0.2
Cash flow from operations
1,108.7
1,318.1
Decrease (Increase) in working capital
requirement
53.2
(205.4)
Net cash provided from operating
activities
1,161.9
1,112.7
Capital expenditure (including capitalized
development costs)
(155.1)
(170.5)
Net proceeds from sales of fixed and
financial assets
22.3
10.2
Free cash flow
1,029.1
952.4
Increase (Decrease) in working capital
requirement
(53.2)
205.4
(Increase) Decrease in normalized working
capital requirement
58.3
(83.7)
Normalized free cash flow
1,034.2
1,074.1
Scope of consolidation
2020
Q1
H1
9M
Full year
Full consolidation method
Jobo Smartech
Balance sheet only
6 months
9 months
12 months
Focal Point
Balance sheet only
Balance sheet only
7 months
10 months
Borri1
Balance sheet only
Champion One
Balance sheet only
Compose
Balance sheet only
2021
Q1
H1
9M
Full year
Full consolidation method
Jobo Smartech
3 months
6 months
9 months
12 months
Focal Point
3 months
6 months
9 months
12 months
Borri1
3 months
6 months
9 months
12 months
Champion One
Balance sheet only
6 months
9 months
12 months
Compose
Balance sheet only
6 months
9 months
12 months
Ecotap
Balance sheet only
6 months
Ensto Building Systems
2 months
Geiger
Balance sheet only
1
Borri, an Italian UPS specialist, which
was until 2020 consolidated on the equity method.
Disclaimer
This press release may contain forward-looking statements which
are not historical data. Although Legrand considers these
statements to be based on reasonable assumptions at the time of
publication of this release, 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 Legrand Universal
Registration Document filed with the Autorité des marchés
financiers (Financial Markets Authority, AMF), which is available
on-line on the websites of both AMF (www.amf-france.org) and
Legrand (www.legrandgroup.com).
No forward-looking statement contained in this press release is
or should be construed as a promise or a guarantee of actual
results, which are liable to differ significantly. Therefore, such
statements should be used with caution, taking into account their
inherent uncertainty.
Subject to applicable regulations, Legrand does not undertake to
update these statements to reflect events 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 shares in any
jurisdiction.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20220209006031/en/
Investor relations Legrand Ronan Marc Tel: +33 (0)1 49 72
53 53 ronan.marc@legrand.fr
Press relations Publicis Consultants Mathieu Pontecaille
Mob: +33 (0)6 09 14 42 25
mathieu.pontecaille@publicisconsultants.com
Legrand (EU:LR)
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