Legrand (LR) AGM 2025 summary

Opening remarks and agenda

• Welcomed shareholders, celebrated the 160th anniversary, and outlined an agenda covering financial, strategic, and CSR presentations, governance, compensation, auditors' reports, Q&A, and voting on resolutions.

• Confirmed quorum at 81.18% and availability of all required documents for shareholders.

• Introduced board members, statutory auditors, and detailed the structure of ordinary and extraordinary resolutions.

Financial performance review

• 2024 net sales rose 3.9% to €8,648.9m, with 4% total sales growth and data centers driving 15% organic growth.

• Adjusted operating margin was 20.5% in 2024, with record cash generation and a robust balance sheet.

• Net profit attributable to the group reached €1,166m (13.5% of sales); free cash flow was €1,290m (14.9% of sales).

• Datacenter sales grew at a 19% CAGR over five years, reaching €1.8bn in 2024.

• Q1 2025 sales increased 11.3%, with continued strong performance in data centers and acquisitions.

Board and executive committee updates

• Board composition: 10-12 members, 82% independent, 55% women, 7 nationalities, 9 key expertises.

• Appointment of Stéphane Pallez as new director and renewal of Patrick Koller and Florent Menegaux.

• Lead Director ensures balanced governance and succession planning.

• Committees maintained high independence and attendance rates in 2024.

• Paid tribute to departing directors for their long-standing service and expertise.