Legrand: Press Release, October 20th, 2022

Rhea-AI Summary

Legrand, a global specialist in electrical and digital building infrastructures, has been indicted in France related to the derogation mechanism, necessitating a security deposit of €80.5 million. The company contends that the charges lack merit and asserts its compliance with laws. Key upcoming financial dates include November 3, 2022 for nine-month results and February 9, 2023 for full-year results. In 2021, Legrand reported sales of €7.0 billion, and it remains a component of the CAC 40 index.

Positive

• The company asserts that the indictment lacks merit, potentially indicating a robust defense strategy.
• Legrand reported sales of €7.0 billion in 2021, showcasing strong financial performance.

Negative

• Indictment and required security of €80.5 million may raise concerns among investors regarding legal risks and potential financial impacts.

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

As part of the investigation of the derogation mechanism on the French market¹, one of Legrand’s (Paris:LR) French entities has been indicted and ordered to provide security in the amount of €80.5 million.

Neither this indictment nor the ordering of this security mean that Legrand will ultimately be found guilty of any wrongdoing.

Legrand rejects that these proceedings have any merit and intends to vigorously demonstrate that its trade policy is in full compliance with the applicable law.

Key financial dates:

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

• 2022 full-year results: February 9, 2023
  Quiet period² starts January 10, 2023

• Annual General Meeting of Shareholders: May 31, 2023

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

Readers are invited to check the authenticity of Legrand's press releases using the CertiDox app. For more information, visit www.certidox.com

¹ For more information, see Legrand press releases dated September 11, 2018 and July 5, 2022.
² Period of time in which all communication is suspended in the run-up to the publication of results.

View source version on businesswire.com: https://www.businesswire.com/news/home/20221020005812/en/

Investor relations

Legrand

Ronan Marc

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

ronan.marc@legrand.fr

Press relations

TBWA Corporate

Tiphaine Raffray

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

tiphaine.raffray@tbwa-corporate.com

Source: Legrand

FAQ

What was the recent indictment against Legrand about?

Legrand was indicted in France related to a derogation mechanism and required to secure €80.5 million.

How much security has Legrand been ordered to provide?

Legrand has been ordered to provide security in the amount of €80.5 million.

When are Legrand's nine-month results for 2022 expected?

Legrand's nine-month results for 2022 are expected on November 3, 2022.

What were Legrand's sales in 2021?

Legrand reported sales of €7.0 billion in 2021.

Is Legrand guilty of any wrongdoing regarding the indictment?

Legrand has denied any wrongdoing and claims the charges are without merit.