Company Reports

Legrand raised its medium-term financial targets at its Capital Markets Day. It raised sales growth (including acquisitions) to 11%-13% from 6%-10% through 2030 and the average adjusted operating margin to 21%-22% from 20%.

Legrand has established itself as a dominant player in electrical equipment, enjoying a leading market share in two-thirds of its product ranges. Its brand reputation for reliability and extensive product range has fostered close-knit relationships with key participants in sales channels, creating high barriers to entry and resilient profitability. Products are specified by electrical engineers/designers and purchased through installers and contractors for buildings. For data centers, Legrand works directly with the design teams of hyperscalers and major co-locators to ensure product specification and compatibility. Legrand’s push-pull strategy reinforces its close relationships with stakeholders by offering distributors an extensive product range of over 300,000 products and frequent training on its regular product innovations for installers, who are largely price-insensitive and value reputation and ease of installation over price.

Legrand has established itself as a dominant player in electrical equipment, enjoying a leading market share in two-thirds of its product ranges. Its brand reputation for reliability and extensive product range has fostered close-knit relationships with key participants in sales channels, creating high barriers to entry and resilient profitability. Products are specified by electrical engineers/designers and purchased through installers and contractors for buildings. For data centers, Legrand works directly with the design teams of hyperscalers and major co-locators to ensure product specification and compatibility. Legrand’s push-pull strategy reinforces its close relationships with stakeholders by offering distributors an extensive product range of over 300,000 products and frequent training on its regular product innovations for installers, who are largely price-insensitive and value reputation and ease of installation over price.

Legrand delivered 17% sales growth in constant currency in the first half of 2026, supported by 10% organic growth and a 7% contribution from scope changes. Full-year revenue guidance was raised.

Legrand has established itself as a dominant player in electrical equipment, enjoying a leading market share in two-thirds of its product ranges. Its brand reputation for reliability and extensive product range has fostered close-knit relationships with key participants in sales channels, creating high barriers to entry and resilient profitability. Products are specified by electrical engineers/designers and purchased through installers and contractors for buildings. For data centers, Legrand works directly with the design teams of hyperscalers and major co-locators to ensure product specification and compatibility. Legrand’s push-pull strategy reinforces its close relationships with stakeholders by offering distributors an extensive product range of over 300,000 products and frequent training on its regular product innovations for installers, who are largely price-insensitive and value reputation and ease of installation over price.

Legrand delivered first-quarter organic revenue growth of 9.3%, driven entirely by data center demand. Reported sales grew 11%, or 18% in local currency, to EUR 2.5 billion, comfortably ahead of company-compiled consensus. Full-year guidance was confirmed. Shares traded slightly higher intraday.

Legrand has established itself as a dominant player in electrical equipment, enjoying a leading market share in two-thirds of its product ranges. Its brand reputation for reliability and extensive product range has fostered close-knit relationships with key participants in sales channels, creating high barriers to entry and resilient profitability. Products are specified by electrical engineers/designers and purchased through installers and contractors for buildings. For data centers, Legrand works directly with the design teams of hyperscalers and major co-locators to ensure product specification and compatibility. Legrand’s push-pull strategy reinforces its close relationships with stakeholders by offering distributors an extensive product range of over 300,000 products and frequent training on its regular product innovations for installers, who are largely price-insensitive and value reputation and ease of installation over price.

Legrand reported 9.6% revenue growth in 2025, comprising a 7.7% organic revenue contribution and a 5.1% contribution from acquisitions. Data centers, which contribute 26% of Legrand's revenue, grew by 40%. The shares rose 3% in Feb. 12 trading.

Legrand reported 6.7% organic revenue growth during the third quarter, its slowest rate of growth since the start of the year. Top-line growth continues to be predominantly driven by 24% of revenue earned from data centers. Shares are trading 10% lower intraday.

Electrical equipment suppliers have emerged as major beneficiaries of the rapid acceleration of AI data centers. Legrand and Schneider each earn over 20% of group revenues from data centers.

Legrand has established itself as a dominant player in electrical equipment, enjoying a leading market share in two-thirds of its product ranges. Its brand reputation for reliability and extensive product range has created close-knit relationships with the key participants in the sales channels, creating high barriers to entry and resilient profitability. While the majority of its products are sold via major distributors, the key decision-makers in electrical equipment are electricians, who act on behalf of the end user. Legrand’s push-pull strategy reinforces its close relationships with stakeholders by offering distributors an extensive product range of over 300,000 products and frequent training on its regular product innovations to installers, who are largely insensitive to price and who value reputation and ease of installation above price.

Legrand reported 9% organic revenue growth in the first half, outperforming peers despite its higher exposure to a subdued construction market. Its adjusted operating margin reached 21.0%, beating company-compiled consensus. Shares are trading 5% higher intraday.

Legrand issued an unscheduled first-half trading update, reporting 9% organic revenue growth, exceeding company-compiled consensus of 6%. The better-than-expected result was driven by strong demand from data center customers, which account for 20% of group sales. Shares are up 8% July 17 intraday.

Legrand has established itself as a dominant player in electrical equipment, enjoying a leading market share in two thirds of its product ranges. Its brand reputation for reliability and extensive product range has created close-knit relationships with the key participants in the sales channels, creating high barriers to entry and resilient profitability. While the majority of its products are sold via major distributors, the key decision-makers in electrical equipment are electricians, who act on behalf of the end user. Legrand’s push-pull strategy reinforces its close relationships with stakeholders by offering distributors an extensive product range of over 300,000 products and frequent training on its regular product innovations to installers, who are largely insensitive to price and who value reputation and ease of installation above price.

Legrand reported 8% organic revenue growth during the first quarter, comfortably exceeding company-compiled consensus by 3%. Revenue growth is mainly attributable to its North American business, which enjoys outsize exposure to data centers. Shares are trading 3% higher intraday.

Legrand has established itself as a dominant player in electrical equipment, enjoying a leading market share in two thirds of its product ranges. Its brand reputation for reliability and extensive product range has created close-knit relationships with the key participants in the sales channels, creating high barriers to entry and resilient profitability. While the majority of its products are sold via major distributors, the key decision-makers in electrical equipment are electricians, who act on behalf of the end user. Legrand’s push-pull strategy reinforces its close relationships with stakeholders by offering distributors an extensive product range of over 300,000 products and frequent training on its regular product innovations to installers, who are largely insensitive to price and who value reputation and ease of installation above price.

The US government has imposed a 20% tariff on European goods, sending equity markets down. Shares of European electrical equipment suppliers are trading 5% lower. Importantly, the United States-Mexico-Canada Agreement signed by President Donald Trump during his first term remains intact.

The US government has threatened to impose 25% tariffs on imports from the European Union, having already implemented tariffs on Canada, Mexico and China.

Legrand reported organic revenue growth of 6% during the fourth quarter, a noticeable improvement from the slight decline during the preceding nine months. Acquisitions added another 8% to revenue growth, helping the group beat FactSet consensus by 6%. Shares are trading 8% higher intraday Feb 13.

We have consolidated our recent DeepSeek-related coverage in this note. Artificial intelligence affects companies across much of our coverage, including semiconductors, cloud infrastructure, software, utilities, and energy.