Legrand announces results for the first nine months of 2015
Total growth in sales: +7.1% (including +0.4% organic growth)
Rise in adjusted operating income: +6.1% (adjusted operating margin before acquisitions : 19.8%)
Ongoing development initiatives
2015 targets confirmed and specified
Organic change in sales: Legrand confirms its 2015 target and is now aiming for "between -1% and +1%"
Adjusted operating margin before acquisitions2: Legrand confirms its 2015 target and is now aiming for "at least 19.0%"
Gilles Schnepp, Chairman and CEO of Legrand, comments:
Legrand sales in the first nine months of 2015 came to nearly €3.6 bn, up +7.1% in total, with the United States/Canada region in particular reporting a +32.1% total rise in sales. Consolidated sales benefited from a favorable exchange-rate effect of +5.7% and a broader scope of consolidation resulting from acquisitions that contributed +0.9%.
The organic change in consolidated sales in the first nine months remained quasi-stable at +0.4%, reflecting:
- continued good showings in the United States/Canada region, where teams continue to develop Legrand's positions in a market that is doing well,
- rising sales in several mature countries in Europe, including Spain, the United Kingdom and Germany; confirmed stabilization of business in Italy; and persistently less upbeat market conditions in some other mature economies, in particular France,
- varied situations in new economies, with growth in particular in India, Poland, Turkey, Saudi Arabia, Mexico and Colombia that did not completely offset the decline observed since the beginning of the year in some other countries, notably Brazil, China and Russia—all affected by current economic conditions.