Legrand Press Release - July 5, 2022

Rhea-AI Summary

On July 4, 2022, Legrand received a statement of objections from the French Competition Authority regarding its derogation mechanism with distributors in France. Legrand is dedicated to compliance with applicable laws and will defend its position in the upcoming legal proceedings. Key dates include the first-half results scheduled for July 29, 2022, and the nine-month results on November 3, 2022. The company reported sales of €7.0 billion in 2021 and is recognized for its innovative electrical and digital building solutions across various markets.

Positive

• Legrand reported sales of €7.0 billion in 2021, showcasing solid revenue performance.
• The company maintains a focus on innovation and sustainable building infrastructure solutions.

Negative

• The issuance of a statement of objections from the French Competition Authority may lead to legal challenges.
• Potential ramifications from regulatory scrutiny could impact future business operations.

LIMOGES, France--(BUSINESS WIRE)-- Regulatory News:

On July 4, 2022, Legrand (Paris:LR) received a statement of objections (notification de griefs) from the French Competition Authority¹ (Autorité de la concurrence), concerning the derogation mechanism with its distributors on the French market.

Legrand is committed to strictly complying with all applicable legislation and intends to fully exercise its rights in the upcoming proceedings.

Key financial dates:

• 2022 first-half results: July 29, 2022
  Quiet period² starts June 29, 2022

• 2022 nine-month results: November 3, 2022
  Quiet period² starts October 4, 2022

About Legrand

Legrand is the global specialist in electrical and digital building infrastructures. Its comprehensive offering of solutions for commercial, industrial and residential markets makes it a benchmark for customers worldwide. The Group harnesses technological and societal trends with lasting impacts on buildings, with the purpose of improving life by transforming the spaces where people live, work and meet through electrical, digital infrastructures and connected solutions that are simple, innovative and sustainable. Drawing on an approach that involves all teams and stakeholders, the Group is pursuing its strategy of profitable and responsible growth driven by acquisitions and innovation, with a steady flow of new offerings including products with enhanced value in use (faster-growing segments: datacenters, connected solutions and energy efficiency programs). Legrand reported sales of €7.0 billion in 2021. The company is listed on Euronext Paris and is a component stock of the CAC 40 and CAC 40 ESG indices (ISIN: FR0010307819).

https://www.legrandgroup.com

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¹ For more information, see Legrand press release dated September 11, 2018.
² Period of time in which all communication is suspended in the run-up to the publication of results.

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View source version on businesswire.com: https://www.businesswire.com/news/home/20220705005743/en/

Investor relations

Legrand

Ronan Marc

Tel: +33 (0)1 49 72 53 53

ronan.marc@legrand.com

Press relations

TBWA Corporate

Tiphaine Raffray

Mob: +33 (0)6 58 27 78 98

tiphaine.raffray@tbwa-corporate.com

Source: Legrand

FAQ

What did Legrand announce on July 4, 2022 regarding the French Competition Authority?

On July 4, 2022, Legrand received a statement of objections from the French Competition Authority concerning its distributor agreements in France.

When are Legrand's first-half results scheduled for release in 2022?

Legrand's first-half results are set to be released on July 29, 2022.

What were Legrand's sales figures for 2021?

Legrand reported sales of €7.0 billion for the year 2021.

How is Legrand positioned in terms of market offerings?

Legrand is recognized as a global specialist in electrical and digital building infrastructures, offering solutions for various markets.