Legrand Backs Mid-Term Targets; to Focus on Fast-Growing Divisions - MarketWatch

By Joshua Kirby

Legrand SA on Wednesday confirmed its mid-term sales and operating-margin targets, and said that it plans to concentrate on spurring growth in its most promising business segments.

Marking its capital-markets day, the French industrial group reiterated its mid-term targets, set out in February, of achieving average annual organic sales growth between 5% and 10%, as well as an adjusted operating margin of around 20%. Legrand is also aiming for normalized free cash flow of between 13% and 15% of sales on average.

The company added that it will focus on the faster-growing segments of data centers, products under the Eliot program and energy-efficiency solutions. Legrand aims to see these divisions contribute 50% of total sales in the medium term, from 31% last year.

Write to Joshua Kirby at joshua.kirby@wsj.com; @joshualeokirby

Adblock test (Why?)

Legrand Backs Mid-Term Targets; to Focus on Fast-Growing Divisions - MarketWatch
Read More