Latest news with #StéphanePallez
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.
Yahoo
23-05-2025
- Business
- Yahoo
FDJ UNITED: Combined General Meeting of 22 May 2025
BOULOGNE, France, May 23, 2025--(BUSINESS WIRE)--Regulatory News: The annual and extraordinary Ordinary General Meeting of La Française des Jeux (Paris:FDJ) was held this Thursday, 22 May, under the chairmanship of Stéphane Pallez, Chairwoman and CEO. Shareholders were able to cast their votes during the General Meeting on presentation of an admission card. Shareholders who were unable to physically attend the meeting were able to vote by post, by proxy or via the secure Votaccess platform prior to the General Meeting. The General Meeting largely adopted all the resolutions put to the vote of the shareholders, including: - The approval of the parent company and consolidated financial statements for the 2024 financial year;- The appropriation of earnings for the financial year ended 31 December 2024 and the payment of a dividend of €2.05 per share to be paid on 3 June 2025;- The appointment of Ms Alix Boulnois as director;- The components of remuneration of the corporate directors for the 2024 financial year, as well as the 2025 remuneration policy for corporate directors;- Various financial authorisations granted to the Board of Directors;- Various amendments to the Articles of Association in order to incorporate the new purpose of FDJ UNITED in the preamble. In 2026, the General Meeting will be held on 23 April. Continuation of the liquidity agreement – Implementation of the share buyback programme Today's General Meeting adopted, in its 11th resolution, a new share buyback programme. A description of this programme can be found in the 2024 Universal Registration Document (chapter 7.2.2.1) filed on 29 April 2025 with the AMF and available on the FDJ website ( On 15 April 2025, the Board of Directors decided, subject to the condition precedent of the adoption of the 11th resolution of the General Meeting, to implement this programme in order to continue the liquidity agreement entered into with Exane. Resignation of Mrs Barjou - Director Following Predica's withdrawal from FDJ UNITED, Florence Barjou has tendered her resignation. The Chairman and CEO thanks her for her commitment and contribution to the Board of Directors of FDJ UNITED since March 1, 2022. About FDJ UNITED FDJ UNITED is one of Europe's leading betting and gaming operators, with a vast portfolio of iconic brands and a reputation for technological excellence. With more than 5,000 employees and a presence in around fifteen regulated markets, the Group offers a diversified, responsible range of games, both under exclusive rights and open to competition: lottery games in France and Ireland, via an extensive point-of-sale network and online; sports betting at points of sale in France; and online games open to competition (sports and horse-race betting, poker and online casino games, in markets where these activities are authorized). FDJ Group has placed responsibility at the heart of its strategy and promotes recreational betting. FDJ Group is listed on the Euronext Paris regulated market (FDJU) and is a member of indices including the SBF 120, Euronext 100, Euronext Vigeo 20, EN EZ ESG L 80, STOXX Europe 600, MSCI Europe and FTSE Euro. For more information, visit X @FDJUNITED Instagram @FDJUNITED_officiel LinkedIn @FDJUNITED View source version on Contacts Media +33 (0)1 41 10 33 82 | media@ Investor Relations+33 (0)1 41 04 19 74 | invest@
Business Wire
23-05-2025
- Business
- Business Wire
FDJ UNITED: Combined General Meeting of 22 May 2025
BOULOGNE, France--(BUSINESS WIRE)--Regulatory News: The annual and extraordinary Ordinary General Meeting of La Française des Jeux (Paris:FDJ) was held this Thursday, 22 May, under the chairmanship of Stéphane Pallez, Chairwoman and CEO. Shareholders were able to cast their votes during the General Meeting on presentation of an admission card. Shareholders who were unable to physically attend the meeting were able to vote by post, by proxy or via the secure Votaccess platform prior to the General Meeting. The General Meeting largely adopted all the resolutions put to the vote of the shareholders, including: - The approval of the parent company and consolidated financial statements for the 2024 financial year; - The appropriation of earnings for the financial year ended 31 December 2024 and the payment of a dividend of €2.05 per share to be paid on 3 June 2025; - The appointment of Ms Alix Boulnois as director; - The components of remuneration of the corporate directors for the 2024 financial year, as well as the 2025 remuneration policy for corporate directors; - Various financial authorisations granted to the Board of Directors; - Various amendments to the Articles of Association in order to incorporate the new purpose of FDJ UNITED in the preamble. In 2026, the General Meeting will be held on 23 April. Continuation of the liquidity agreement – Implementation of the share buyback programme Today's General Meeting adopted, in its 11th resolution, a new share buyback programme. A description of this programme can be found in the 2024 Universal Registration Document (chapter 7.2.2.1) filed on 29 April 2025 with the AMF and available on the FDJ website ( On 15 April 2025, the Board of Directors decided, subject to the condition precedent of the adoption of the 11th resolution of the General Meeting, to implement this programme in order to continue the liquidity agreement entered into with Exane. Resignation of Mrs Barjou - Director Following Predica's withdrawal from FDJ UNITED, Florence Barjou has tendered her resignation. The Chairman and CEO thanks her for her commitment and contribution to the Board of Directors of FDJ UNITED since March 1, 2022. About FDJ UNITED FDJ UNITED is one of Europe's leading betting and gaming operators, with a vast portfolio of iconic brands and a reputation for technological excellence. With more than 5,000 employees and a presence in around fifteen regulated markets, the Group offers a diversified, responsible range of games, both under exclusive rights and open to competition: lottery games in France and Ireland, via an extensive point-of-sale network and online; sports betting at points of sale in France; and online games open to competition (sports and horse-race betting, poker and online casino games, in markets where these activities are authorized). FDJ Group has placed responsibility at the heart of its strategy and promotes recreational betting. FDJ Group is listed on the Euronext Paris regulated market (FDJU) and is a member of indices including the SBF 120, Euronext 100, Euronext Vigeo 20, EN EZ ESG L 80, STOXX Europe 600, MSCI Europe and FTSE Euro.
