Legrand (LR) Q3 2025 earnings summary

Executive summary

• Achieved 14.5% year-over-year sales growth over the first nine months of 2025, with strong organic growth of 8.2% and robust performance in data centers.

• Adjusted operating margin reached 20.7% of sales, up from 20.5% year-over-year, and net profit attributable to the group was €892.3 million, up 7.0% year-over-year.

• Free cash flow increased by 16.3% year-over-year to €871 million, representing 12.5% of sales.

• Seven acquisitions announced in 2025, focused on energy and digital transition, added approximately €500 million in annualized sales, including four in datacenters.

• Full-year 2025 targets for sales growth and operating margin were confirmed, reflecting confidence in ongoing performance.

Financial highlights

• Net sales for the first nine months of 2025 were €6,971.4 million, up 11.9% year-over-year; organic growth contributed 8.2%, acquisitions 5.8%, and currency effects were -2.2%.

• Adjusted operating profit reached €1,443.8 million (20.7% of sales), up from €1,276.1 million (20.5%) in 2024.

• Net profit attributable to the group was €892.3 million (12.8% of sales), up 7.0% year-over-year.

• Free cash flow totaled €871 million, up 16.3% year-over-year, representing 12.5% of sales.

• Net financial debt decreased by 2.6% to €3,121.7 million at September 30, 2025.

Outlook and guidance

• Full-year 2025 sales growth (organic and acquisitions, ex-currency) targeted at 10% to 12%, with organic growth of 5% to 7% and acquisitions contributing about 5%.

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

• Data center sales expected to grow around 30% for the full year, with continued strong outlook into 2026.

• At least 100% CSR achievement rate targeted for the first year of the 2025-2027 roadmap.