2022 First quarter results
Legrand reported solid results in the first quarter of 2022...
Strong growth in sales: +17.8%
including organic growth: +11.2%
Results hold firm amid strong inflationary trends
Adjusted operating margin: 20.3% of sales
Rise in net profit: +13%
2022 full-year targets confirmed
Benoît Coquart, Legrand’s Chief Executive Officer, commented:
“Legrand reported solid results in the first quarter of 2022...
Sales rose a total of +17.8%. This increase was driven mainly by organic growth of +11.2%, a strong showing that reflected successful sales and marketing initiatives as well as effective management of supply chain pressures.
In a widespread inflationary context, adjusted operating margin held firm at 20.3% of sales, while net profit rose +13%.
The environment early this year has been particularly unstable. It is characterized by factors that predate 2022 and continue to apply, including inflation in production and operating expenses, reduced availability of raw materials and components, and continued pandemic restrictions in some countries. These are now amplified by fallout from the conflict between Russia and Ukraine. Yet despite these rising uncertainties, first-quarter results testify once again to the effectiveness of our business model aimed at creating profitable and responsible value. It is on this basis that Legrand has confirmed the annual targets announced in February.
The Group also recently published its fifth CSR roadmap which sets out Legrand’s commitment to achieving ambitious and concrete ESG targets.”