Legrand (LR) H2 2025 earnings summary

Executive summary

• Achieved record sales and revenue growth of 13.1% in 2025, driven by strong datacenter performance, strategic acquisitions, and high CSR achievement rates.

• Strategic roadmap towards €15 billion sales by 2030 is on track, with reinforced positioning in energy and digital transition offerings, now representing 53% of sales.

• Data centers remain a key growth driver, representing 26% of group sales (€2.4 billion).

• Customer satisfaction and CSR metrics improved, with NPS at 54 and CSR achievement rate at 110%.

Financial highlights

• 2025 sales grew by 13.1% excluding currency effects, with 7.7% organic growth and a 5.1% positive scope effect from acquisitions.

• Net sales increased to €9,480.6 million, adjusted operating margin reached 20.7% of sales, and net profit attributable to the group was €1.25 billion (13.1% of sales).

• Free cash flow was €1.33 billion (14% of sales), with a 107% conversion rate.

• Dividend proposed at €2.38 per share, up 8.2% from 2024, with a 50% payout ratio.

Outlook and guidance

• 2026 sales growth targeted at +10% to +15% (excluding currency), with organic growth of +4% to +7% and acquisitions contributing +6% to +8%.

• Adjusted operating margin after acquisitions expected at 20.5%-21% of sales.

• CSR achievement rate of at least 100% for 2026.

• Confident in reaching upper end of 2030 sales target (~€15 billion) with average annual sales growth close to 10% and average adjusted operating margin above 20%.