Legrand (LR) Q2 2026 earnings summary

Executive summary

• Achieved record sales growth in H1 2026, with net sales up 13.1% year-over-year to €5,400.3 million, driven by strong organic growth, acquisitions, and robust execution of the 2030 strategic roadmap.

• Adjusted operating margin remained robust at 20.8% of sales, reflecting continued excellent profitability despite inflationary pressures.

• Net profit attributable to the Group increased by 11.2% to €698 million.

• Data center business delivered organic growth above 30%, now representing 32% of total revenue.

• Seven acquisitions announced or completed in 2026, focused on energy and digital transition, adding approximately €450 million in annual revenue.

Financial highlights

• Sales grew 13.1% year-over-year to €5,400.3 million, with organic growth of 9.8%, acquisitions contributing 6.9%, and currency effects reducing sales by 3.7%.

• Adjusted operating profit rose to €1,123.6 million (+12.0% year-over-year), with a margin of 20.8% of sales.

• EBITDA reached €1,262.6 million, representing 23.4% of sales.

• Free cash flow was €488 million, representing 9.0% of sales, down from 10.5% in H1 2025.

• Net financial debt increased to €5,755.3 million, mainly due to acquisition activity.

Outlook and guidance

• Full-year 2026 sales growth target (excluding currency effects) raised to +16% to +19%.

• Organic growth guidance increased to +8% to +10%; acquisitions expected to contribute around +8%.

• Adjusted operating margin guidance maintained at 20.5% to 21.0% of sales.

• CSR achievement rate target set at 100% for the second year of the 2025-2027 roadmap.

• Data center organic growth expected at 25%-30% for the full year.