The French company reported total sales up 11.8 percent to 2.98 billion Euro, when compared to the first half of 2017. The company cites a positive overall economy in the first half and a few favorable one-off effects that drove Legrand's business in several countries as potential reasons for the uptick in sales.
Organic growth in sales increased by 5.2 percent with good performances recorded in both new markets and mature countries.
On the profit side, Legrand reported a 14.4 percent gain in adjusted operating profit to 625 million Euro, 23.3 percent growth in net profit, and 25.3 percent growth in cash flow to 231 million Euro.
Adjusted operating margin before acquisitions is 21.1 percent of sales in the first half of 2018, a 0.7 point rise from the first half of 2017.
North and Central America sales account for 35 percent of total group sales, up 3.8 percent from the first half of 2017.
“The region’s good performance was driven by solid achievements in the United States in wire-mesh cable management, lighting controls, intelligent PDUs, and Audio-Video infrastructures and power systems, with Milestone in particular recording healthy growth in sales,” says Benoît Coquart, Legrand's CEO.
Coquart continues, saying Legrand has continued initiatives aimed at fueling its growth through innovation, and has launched many new products in 2018 (in particular under its Eliot program). These products include:
- Digital Infrastructure Devices – Milestone’s TiLED Series and Impact Series screen mounts, Infinium optic enclosures, and Radiant wireless chargers.
- Energy Distribution Solutions– Practibox S distribution cabinets, XL3N 630 power enclosures, and the DX3 Stop Arc circuit breakers.
- Keor Mod and Keor SP smart UPS.
- Logix universal modular floor boxes.
- Connected mobile power sockets.