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Legrand S.A. (LGRDY) is a globally recognized leader in electrical and digital building infrastructures, offering a comprehensive portfolio of solutions that enhance the functionality, efficiency, and safety of residential, commercial, and industrial spaces. With its headquarters in Limoges, France, Legrand operates across a diverse range of markets, including data centers, smart buildings, and energy-efficient solutions, making it a benchmark for customers worldwide.
Core Business Areas
Legrand's core business is centered on providing innovative solutions for electrical systems, digital connectivity, and building infrastructure. The company designs and manufactures products and systems that include electrical wiring devices, home automation systems, energy distribution systems, and digital network solutions. Its offerings cater to a broad range of applications, from residential homes to complex industrial facilities, ensuring seamless integration and enhanced operational efficiency.
Market Position and Industry Relevance
Operating in over 90 countries, Legrand has established itself as a key player in the global infrastructure market. The company leverages its expertise to address emerging trends such as the rise of smart buildings, the growing demand for energy-efficient solutions, and the increasing reliance on data-intensive operations. Its strategic focus on high-growth segments like data centers, connected devices, and energy management underscores its commitment to innovation and market adaptation.
Innovation and Technological Leadership
Legrand's dedication to technological advancement is evident in its continuous introduction of cutting-edge products. For instance, its Data, Power, and Control (DPC) division has achieved the prestigious ISO/IEC 27001:2013 certification, reflecting its commitment to cybersecurity and information security standards. Products like the Remote Plug-In Actuator and the OSFP 800G DR8 transceiver demonstrate Legrand's ability to meet the evolving needs of modern data centers and AI-driven applications, ensuring safety, scalability, and high-speed connectivity.
Business Model and Revenue Streams
Legrand generates revenue through the direct sale of its hardware products, integrated systems, and connected solutions. The company also pursues a strategy of profitable and responsible growth through acquisitions, enabling it to expand its product offerings and market reach. By focusing on high-value segments and incorporating sustainable practices, Legrand maintains a competitive edge in a rapidly evolving industry.
Competitive Landscape
In the competitive landscape, Legrand faces challenges from industry giants like Schneider Electric and Siemens. However, its ability to innovate, coupled with its focus on customer-centric solutions, allows it to differentiate itself. By addressing critical market concerns such as cybersecurity, energy efficiency, and operational reliability, Legrand remains a trusted partner for its global clientele.
Significance in the Industry
Legrand's role in shaping the future of electrical and digital infrastructures cannot be overstated. Its products and solutions are integral to the development of sustainable, connected, and efficient buildings worldwide. By harnessing technological and societal trends, Legrand continues to transform the spaces where people live, work, and meet, making it a vital contributor to modern infrastructure development.
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.
Approved Networks, a brand of Legrand, announced the launch of its new 100GBASE QSFP28 Universal transceiver. This innovative device offers a cost-effective solution for both multi-mode and single-mode applications, significantly reducing sourcing challenges and costs compared to existing multi-mode LC solutions that can take up to 40 weeks to source. The transceiver is in stock and provides single-mode interoperability, setting it apart from traditional solutions. This product expands Approved Networks' diverse family of optical devices for various data center applications.
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