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Legrand S A (LGRDY) provides essential electrical and digital infrastructure solutions for commercial, industrial, and residential environments. This news hub offers investors and industry professionals direct access to verified corporate updates, including product innovations, strategic partnerships, and financial developments.
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Legrand (Paris:LR) reported its stock trading activity on February 15-17, 2023. During this period, the company executed a total volume of 309,000 shares across three days. The daily weighted average purchase prices were 89.4825 on February 15, 89.9872 on February 16, and 89.2376 on February 17. The total average price over these transactions was 89.5691. This information was disclosed as part of Legrand's regulatory news announcement, highlighting their trading activities on the Euronext Paris market.
Legrand announced a share buyback program for up to 515,000 shares, representing approximately 0.19% of its capital. The program will commence on February 15, 2023 and conclude no later than March 15, 2023. This initiative is authorized by the shareholders' meeting on May 25, 2022, with a maximum purchase price of 150 euros per share. The repurchased shares will primarily support maturing performance share plans. Legrand, a global expert in electrical and digital building infrastructures, reported sales of €8.3 billion in 2022. The company is part of the CAC 40 and CAC 40 ESG indexes.
Legrand has released its consolidated financial report for the year ending December 31, 2022, with total sales amounting to €8.3 billion. The company, a leader in electrical and digital building infrastructures, emphasizes its commitment to sustainable and innovative solutions across commercial, industrial, and residential markets. The report highlights its strategy focusing on acquisitions and innovation to drive profitable growth. Legrand is part of the CAC 40 and CAC 40 ESG indexes and aims to enhance value through offerings in growing segments like datacenters and energy efficiency.
Legrand reported a robust financial performance for 2022, with a 19.2% increase in sales, reaching over €8.3 billion. The adjusted operating margin was 20.4%, showcasing strong profitability. Adjusted net profit rose by 26.8% to €1.1 billion, while free cash flow reached €1.036 billion. The company achieved a 123% rate on its CSR roadmap, emphasizing its commitment to sustainability. For 2023, Legrand aims for 2% to 6% sales growth, maintaining a 20% adjusted operating margin. The strategic roadmap includes ongoing acquisitions and operational improvements.
Legrand reported its share capital details as of January 31, 2023, confirming a total of 266,817,746 shares, all with voting rights. The number of exercisable voting rights stands at 266,709,343 due to the deduction of shares without voting rights. Notably, the total number of shares has remained stable since the last financial report on September 30, 2022, with 0 shares issued from stock options during this period. Key upcoming dates include the 2022 annual results announcement on February 9, 2023, and the General Meeting of Shareholders scheduled for May 31, 2023.
Legrand has announced its decision to divest its Russian operations amidst rising operational complexity and uncertainty. These activities represented approximately 1.5% of the company’s sales in 2022. The divestment will lead to an impairment charge close to €150 million to be reflected in its 2022 financial statements, impacting its balance sheet exposure to Russia, which stood at €200 million. However, this move is not expected to affect the Group’s adjusted operating profit. Legrand aims to ensure compliance with regulations and maintain operational continuity for local employees and customers.
Legrand reported an update under its liquidity agreement with Exane BNP Paribas, revealing assets in the liquidity account at year-end 2022 included 111,230 shares valued at €18,840,413. In the latter half of 2022, there were 9,432 buy and 12,366 sell executions, with traded volumes of 1,407,398 shares for €105,576,353 on the buy side, and 1,410,901 shares for €105,923,752 on the sell side. Comparatively, the first half saw 12,384 buy and 15,576 sell executions. Key financial dates include the 2022 annual results on February 9, 2023.
On December 31, 2022, Legrand reported that the total number of shares composing its share capital remains at 266,817,746, with 266,668,231 exercisable voting rights after accounting for shares without voting rights. There was no change in the number of shares from previous months, indicating stable share capital since September 30, 2022. Key upcoming financial dates include the 2022 annual results announcement on February 9, 2023, and the General Meeting of Shareholders on May 31, 2023.
Legrand has acquired Encelium, a Canadian manufacturer of advanced commercial lighting controls, effective immediately. This acquisition is part of Legrand's strategy to enhance its leadership in the commercial lighting control sector. Encelium's integration into Legrand's Building Control Systems division is expected to foster innovation and expand market offerings, leveraging Encelium's existing presence in thousands of buildings. The acquisition aims to provide enhanced control solutions, including digital lighting controls and motorized shading systems, benefiting both Legrand and Encelium customers.
On November 30, 2022, Legrand announced the total number of shares at 266,817,746, with 266,679,938 exercisable voting rights. No stock options were exercised, indicating stable share capital. The latest figures remained unchanged since September 30, 2022. Key upcoming financial dates include the annual results on February 9, 2023, and the first-quarter results on May 4, 2023. Legrand, a leader in electrical and digital infrastructure, reported sales of €7.0 billion in 2021 and is listed on Euronext Paris, being a component of the CAC 40 and CAC 40 ESG indexes.
