Latest news with #Legrand
Business Insider
a day ago
- Business
- Business Insider
Kepler Capital Remains a Hold on Societe de la Tour Eiffel (0IUE)
Kepler Capital analyst Benjamin Legrand maintained a Hold rating on Societe de la Tour Eiffel (0IUE – Research Report) on June 2 and set a price target of €5.00. The company's shares closed last Monday at €4.86. Confident Investing Starts Here: Easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions Receive undervalued, market resilient stocks right to your inbox with TipRanks' Smart Value Newsletter According to TipRanks, Legrand is a 4-star analyst with an average return of 9.0% and an 84.38% success rate. Legrand covers the Real Estate sector, focusing on stocks such as Gecina, Inmobiliaria Colonial, and Covivio SA. The word on The Street in general, suggests a Hold analyst consensus rating for Societe de la Tour Eiffel with a €5.20 average price target.
Yahoo
2 days ago
- Business
- Yahoo
Legrand Strengthens Its Positions as World Champion in Datacenters With the Acquisition of Linkk Busway Systems in Asia
LIMOGES, France, June 03, 2025--(BUSINESS WIRE)--Regulatory News: Legrand (Paris:LR) is pursuing its active bolt-on acquisition strategy with today's announcement of Linkk Busway Systems1. Linkk Busway Systems is an Asian reference specialist in power busbars, particularly for datacenters' grey space. Based in Malaysia, in Beranang, Selangor, Linkk Busway Systems employs over 240 people and generates an annual revenue of around €45 million. Benoît Coquart, Legrand's Chief Executive Officer; commented:"We are thrilled to announce this acquisition, our third since the beginning of the year, and the second one in the fast-growing datacenter market, which already accounted for 20% of Group proforma sales in 2024. It is fully in line with our strategic ambitions for 2030, in particular the strengthening of our positions in buoyant segments linked to the energy and digital transition." KEY FINANCIAL DATES 2025 first-half results : July 31, 2025''Quiet period2" starts : July 1, 2025 ABOUT LEGRAND Legrand is the global specialist in electrical and digital building infrastructures. Its comprehensive offering of solutions for residential, commercial, and datacenter markets makes it a benchmark for customers 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 on an approach that involves all teams and stakeholders, Legrand is pursuing a strategy of profitable and responsible growth driven by acquisitions and innovation, with a steady flow of new offerings that include products with enhanced value in use (energy and digital transition solutions: datacenters, digital lifestyles and energy transition offerings).Legrand reported sales of €8.4 billion in 2023. The company is listed on Euronext Paris and is a component stock of the CAC 40, CAC 40 ESG and CAC SBT 1.5 indexes. (code ISIN FR0010307819). 1 Subject to customary closing conditions2 Period of time when all communication is suspended in the run-up to publication of results Readers are invited to verify the authenticity of Legrand press releases with the CertiDox app. Learn more at View source version on Contacts INVESTOR RELATIONS & FINANCIAL COMMUNICATIONRonan MARC (Legrand) +33 1 49 72 53 53. PRESS RELATIONSLucie DAUDIGNY (TBWA) +33 6 77 20 71 11.
Business Wire
2 days ago
- Business
- Business Wire
Legrand Strengthens Its Positions as World Champion in Datacenters With the Acquisition of Linkk Busway Systems in Asia
LIMOGES, France--(BUSINESS WIRE)--Regulatory News: Legrand (Paris:LR) is pursuing its active bolt-on acquisition strategy with today's announcement of Linkk Busway Systems 1. Linkk Busway Systems is an Asian reference specialist in power busbars, particularly for datacenters' grey space. Based in Malaysia, in Beranang, Selangor, Linkk Busway Systems employs over 240 people and generates an annual revenue of around €45 million. Benoît Coquart, Legrand's Chief Executive Officer; commented: 'We are thrilled to announce this acquisition, our third since the beginning of the year, and the second one in the fast-growing datacenter market, which already accounted for 20% of Group proforma sales in 2024. It is fully in line with our strategic ambitions for 2030, in particular the strengthening of our positions in buoyant segments linked to the energy and digital transition.' KEY FINANCIAL DATES 2025 first-half results : July 31, 2025 ''Quiet period 2 ' starts : July 1, 2025 ABOUT LEGRAND Legrand is the global specialist in electrical and digital building infrastructures. Its comprehensive offering of solutions for residential, commercial, and datacenter 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 a strategy of profitable and responsible growth driven by acquisitions and innovation, with a steady flow of new offerings that include products with enhanced value in use (energy and digital transition solutions: datacenters, digital lifestyles and energy transition offerings). Legrand reported sales of €8.4 billion in 2023. The company is listed on Euronext Paris and is a component stock of the CAC 40, CAC 40 ESG and CAC SBT 1.5 indexes. (code ISIN FR0010307819). 1 Subject to customary closing conditions 2 Period of time when all communication is suspended in the run-up to publication of results
Telegraph
3 days ago
- Business
- Telegraph
In markets where the winner takes all, there's only one company worth buying
Questor is The Telegraph's stock-picking column, helping you decode the markets and offering insights on where to invest. Market leadership can be a huge advantage in business. Dominating a market allows a company to outspend its rivals in areas that drive sales, such as marketing and product innovation. Meanwhile, scale can lower the cost of making goods, providing services and distribution. Once businesses establish leadership, they often command significant 'pricing power' because customers have few viable alternative sources of supply – a particularly good characteristic to have with the threat of tariffs looming. The markets that best lend themselves to fostering leaders tend to be niches as they are only big enough to support limited numbers of players, which accelerates the winner-takes-all dynamic. French buildings product and services company Legrand has a keen appreciation of this. It describes itself as 'a giant in profitable niches' and says two thirds of sales come from markets in which it boasts a number one or two leadership position. The pricing power this gives the group was underlined during rampant inflation earlier this decade. Between 2019 and 2023 the group matched cost increases with price rises of 23pc, while managing to achieve annualised sales growth of 9.2pc. Meanwhile, Legrand is confident it can mitigate an expected $150-to-200m tariff hit though price increases coupled with savings and supply chain changes. The company's strong competitive position is reflected in a record of dividend growth every year since its 2006 Paris IPO. British buyers of the shares, which are available through major brokers, need to fill out the correct paperwork to minimise withholding tax and should check for additional dealing costs. Legrand sells digitalisation and electrical products and services to the construction industry. It offers a vast array of products including cabling, lighting, EV charging and datacentre kit, to name a few. It supports its competitive position with solid research and development spending, averaging about 5pc of sales, and boasts a huge network of third-party distributors and installers across 180 countries. Its most important geographies are Europe and the Americas, which account for just over two fifths of sales each. Legrand also taps into long term megatrends – the energy transition is driving demand for electrification and energy-efficiency solution, a housing shortage and aging population in developed economies is benefiting digitisation. Plus, the recent surge in spending on AI has powered a sharp rise in datacentre demand, which the company expects to account for 20-to-25pc of sales this year. Just under half of sales are exposed to what the group defines as its higher growth markets and brokers forecast annualised sales increases for the group as a whole of 6.5pc for the next three years. However, an appetite for acquisitions and plans to spend €5bn on deals between 2025 and 2030 could boost growth further. One of the problems with targeting niche markets is that, by definition, they are not big, which limits growth. Legrand's solution to this is to make many small acquisitions that consolidate its dominance and moves it into attractive adjacent markets. It estimates 60pc of sales in its higher growth operations are acquired. The businesses Legrand buys tend to have lower margins than its own operations, which is unsurprising given the benefits to profitability that leadership and scale brings. However, the group's impressive operating margin of just over 20pc is expected to remain stable in the coming years as Legrand consistently grinds out new savings from recent acquisitions and existing operations. The business model and growth prospects resonate with many of the world's best fund managers, and 11 of these individuals, all identified as among the top-performing 3pc of equity managers globally by financial publisher Citywire, hold shares in Legrand. The high level of smart money interest results in Citywire awarding the company its highest Elite Companies rating of AAA. While leadership in niche markets coupled with strong brand recognition and reputation underpins demand, the company's fortunes are unavoidably linked to the health of the construction industry globally. Currently, the rampant growth from datacentres is offsetting weakness elsewhere, particularly Europe. While management has yet to see any clear signs of a recovery in Europe, it expects a pickup towards the end of 2025. If a recovery can add to the tailwind from the AI boom, there is room for the shares rating to improve based on the current valuation of 21 times forecast next year's earnings, but expectations for ongoing, profitable growth should provide momentum in its own right.
Business Wire
27-05-2025
- Business
- Business Wire
Legrand: Combined Ordinary and Extraordinary Meeting of Shareholders, May 27, 2025
LIMOGES, France--(BUSINESS WIRE)--Regulatory News: Legrand's (Paris:LR) Combined General Meeting of Shareholders took place on May 27, 2025 and was chaired by Angeles Garcia-Poveda, Chair of the Board of Directors. I. Full support from shareholders for first-class governance in line with market best practices All resolutions put forward by the Board of Directors were approved with a very large majority. In particular, resolutions were adopted promoting first-class governance, with the election of three directors who were previously or are currently senior executives of French industrial groups, world and European leaders. More specifically, shareholders approved: the appointment of Stéphane Pallez (FDJ United) as an independent director for a period of three years; and the renewals of Patrick Koller (formerly at Forvia) and Florent Menegaux's (Michelin) terms of office as directors for a period of three years. As a result, out of a total of 13 members (including two directors representing employees), the Board of Directors consists of: nine independent members, representing a proportion of 82% 1, which far exceeds the 50% minimum level recommended by the AFEP-MEDEF Code of Corporate Governance; six women, representing a proportion of 55% 1; seven nationalities: American, Canadian, English, French, German, Indian and Spanish. six current or former Chief Executive Officers of major listed Groups. As a result, the composition of the Board of Directors is in line with market best practices, and it can draw on the skills and expertise of highly prominent figures, who are well-placed to support the Group's strategic priorities, as outlined in its new and ambitious roadmap for the period out to 2030. The Shareholders' Meeting also approved the payment of a dividend of €2.20 per share with respect to 2024 2, representing an increase of more than 5%. The ex-dividend date will be May 29, 2025 and the dividend will be paid on June 2, 2025. II. Legrand, France's datacenter champion, reiterates its ambitious 2030 roadmap that will unlock significant value creation At the Shareholders' Meeting, Benoît Coquart, CEO of the Group, presented Legrand's strategic model, which is highly value-creating. The Group is ideally positioned in a buoyant industry, in particular thanks to i) the depth of its offering, ii) its balanced exposure to various geographies and end-markets, and iii) its unique positioning within its value chain. He outlined the Group's strategic growth drivers, which include innovation, eco-responsible products, customer experience, digital, pricing and acquisitions. These will enable the Group to make the most of the industry tailwinds out to 2030, which he also presented. Under its new strategic roadmap for 2030 3, Legrand aims to accelerate growth, both in essential infrastructures (53% of the Group's 2024 revenue) and in energy and digital transition (47% of the Group's 2024 revenue, which include products for datacenters, energy transition, and digital lifestyles). The Group's solutions were presented in detail. In particular, Legrand is now France's undisputed leader in datacenters, a segment that already accounted for 20% of the Group's revenue 4 in 2024. Notwithstanding its remarkable performance in 2024, the pace of organic growth accelerated further in this segment during the first quarter of 2025. The strength of the order backlog supports the forecast of strong growth for 2025. This performance speaks to the relevance of the Group's products that offer enhanced value in use, are highly configurable and are considered by all types of datacenter operators as mission-critical for business continuity or performance purposes. Lastly, Legrand's ambitions for 2030 both financially and extra-financially were reiterated, including revenue of between €12 billion and €15 billion, an average adjusted operating margin of approximately 20% of revenue, free cash flow averaging 13 -15% of sales, 80% of sales to be generated from eco-responsible products and a reduction in Scope 1, 2 and 3 emissions in line with the Group's Net Zero 2050 commitment. III. Financial performance and outlook CFO Franck Lemery then provided details about Legrand's financial performance and outlook. In 2024, the Group recorded further growth in sales and very good results, with a +3.9% growth (organic and through acquisitions), an adjusted operating margin and a net profit attributable to the Group of 20.5% and 13.5% of sales respectively, and a free cash flow conversion rate of 111%. Over the past 5 years, the Group's value creation has been consistent and dependable and its added value allocation balanced. Achievements in 2024 were fully in line with the Group's strategy combining i) rapid growth in datacenters, ii) continuous innovation with multiple new products launches both in energy and digital transition and essential infrastructure ranges, and iii) acceleration of the acquisitions policy, with nine deals announced over 12 months. Legrand's results for the first quarter of 2025 and the targets for the current year 5 were emphasized. Based on the first-quarter results, with growth excluding currency effects of +11.2% and the adjusted operating margin of 20.7%, and given the market outlook, the 2025 growth targets excluding currency effects of between +6% and +10% and a stable margin compared with 2025 have been [fully] reiterated. Shareholder returns, the proposed dividend and the Group's shareholder communications were also discussed. IV. CSR achievements and policy Virginie Gatin, Executive VP Corporate Social Responsibility, restated in her introductory comments the key role CSR plays in Legrand's performance. In the final year of its 2022–2024 CSR roadmap, Legrand's overall achievement rate was 113% in 2024, notably with the reduction in the Group's CO 2 emissions (Scopes 1 & 2) of -53% over three years, significantly exceeding the targets set. The consistency of the Group's CSR achievements over the past five years was stressed. Lastly, the five pillars of the new CSR roadmap for the 2025–2027 period were reiterated 6, together with the non-financial ratings awarded to the Group. This roadmap, fully embedded within the Group's performance and value creation strategy, represents a crucial source of competitive advantage for Legrand. V. Exemplary governance and compensation Michel Landel, Lead Director and Chairman of the Nomination and Governance Committee, commented on changes to the composition of the Board of Directors, which reflects a diversity of profiles, cultures and expertise in line with its diversity policy, the Group's strategic priorities and market recommendations. He then presented the role and work of the Lead Director, along with the process for assessing the Board's operating procedures as well as its activities and those of its specialized committees in 2024. Michel Landel, Chairman of the Compensation Committee, after reminding the principles of the compensation policy, provided details on the resolutions relating to company officers' compensation subject to shareholders approval. All presentations made in the meeting, including the voting results, a full playback of the meeting and answers to written questions are available on the Legrand website: 'INVESTORS AND SHAREHOLDERS/Shareholders' meetings/2025 General meeting' section. KEY FINANCIAL DATES: Ex-dividend date: May 29, 2025 Dividend payment: June 2, 2025 2024 first-half results: July 31, 2025 'Quiet period 7 ' starts July 1, 2025 ABOUT LEGRAND Legrand is the global specialist in electrical and digital building infrastructures. Its comprehensive offering of solutions for residential, commercial, and datacenter 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 a strategy of profitable and responsible growth driven by acquisitions and innovation, with a steady flow of new offerings that include products with enhanced value in use (energy and digital transition solutions: datacenters, digital lifestyles and energy transition offerings). Legrand reported sales of €8.6 billion in 2024. The company is listed on Euronext Paris and is a component stock of the CAC 40, CAC 40 ESG and CAC SBT 1.5 indexes. (code ISIN FR0010307819). 1 Directors representing employees are not counted for the purpose of calculating (i) the minimum ratio of directors of a single gender, in accordance with provisions of the law or (ii) the proportion of independent directors on the Board of Directors, in accordance with the recommendations of the AFEP-MEDEF Code of Corporate Governance. 2 To be paid entirely out of distributable income. For more information, readers are invited to refer to the press release of February 12, 2025. 3 For more information, please refer to the documents published in the Capital Markets Day 2024 – Legrand section. 4 Pro forma figures, based on 12 months' revenue for the companies acquired during the year. 5 For more information, readers are invited to refer to the press release of May 7, 2025. 6 For more information, please refer to the documents published in the CSR Capital Markets Day 2025 – Legrand section. 7 Period of time when all communication is suspended in the run-up to the publication of results.
