Legrand: 2026 First-Half Results

Legrand delivers a strong first-half performance, with another period of record sales growth of +17% excluding currency effects and continued excellent profitability

Organic sales growth: +9.8%
Growth through acquisitions: +6.9%
Adjusted operating margin after acquisitions: 20.8%
Net profit attributable to the Group: +11.2%

7 acquisitions, all in buoyant energy and digital transition markets since the beginning of the year

2026 full-year targets revised upward

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

Legrand (Paris: LR):

Benoît Coquart, Legrand’s Chief Executive Officer, commented:

“In the first half of 2026, Legrand delivered record sales growth of +17% excluding currency effects, driven by datacenters, energy transition-related offerings and acquisitions. Financial performance remained outstanding, reflecting both the quality of our market positions and the execution capabilities of our teams in a fast-changing geopolitical and economic environment.

We are continuing to implement our strategic roadmap with determination, supported by a steady stream of new product launches and the completion of seven acquisitions since the beginning of the year, including one announced today. These acquisitions are all highly value-creating and focused on the fast-growing energy and digital transition markets —datacenters, the energy transition and digital lifestyles— which already accounted for 53% of Group sales at the end of 2025.

Confident in our action plans, and in light of our strong first-half performance, we are raising our full-year 2026 targets.

Lastly, our next Capital Markets Day will take place in Singapore on September 29, 2026, alongside Data Centre World Asia. The event will provide an opportunity to review progress toward our 2030 ambitions and set out our solutions and strategic roadmap for datacenters in greater detail.”

2026 full-year targets revised upward1

In 2026, the Group continues to accelerate its profitable and responsible growth, in line with its strategic roadmap2. Based on its first-half performance and the current global macroeconomic environment, Legrand is now targeting the following in 2026:

• sales growth (excluding currency effects) of between +16% and +19% (vs. +10% and +15% previously), comprising organic growth of between +8% and +10% (vs. +4% and +7% previously), and growth through acquisitions of around +8% (vs. between +6% and +8% previously);
• adjusted operating margin (after acquisitions) of between 20.5% and 21.0% of sales (unchanged);
• a CSR achievement rate of at least 100% for the second year of its 2025-2027 roadmap3.

Financial performance at June 30, 2026

Key figures

Consolidated sales

In the first half of 2026, sales grew +13.1% from the same period of 2025, to reach €5,400.3 million.

Organic sales growth was +9.8% for the period.

The impact of broader scope of consolidation was +6.9% in the first half of 2026. Based on acquisitions announced and their likely dates of consolidation, their overall impact would be around +8% full year.

The exchange-rate effect on sales in the first half of 2026 was -3.7%. Based on average exchange rates in June 2026, the full-year effect would be around -1.5% in 2026.

Changes in sales by destination at constant scope of consolidation and exchange rates by region:

These changes are analyzed below by geographical region:

• Europe (34.9% of Group revenue): In a still contrasted building market, sales at constant scope of consolidation and exchange rates were down -2.4% in the first half of the year. Solid growth in Italy and Turkey was not enough to offset declines in most other countries.
• North and Central America (47.0% of Group revenue): Sales increased by +24.2% from the first half of 2025 at constant scope of consolidation and exchange rates.
  In the United States alone (44.4% of Group revenue), sales rose a sharp +26.7%, with +24.5% in the second quarter, driven by strong success of datacenter and energy transition solutions.
  Sales declined in both Mexico and Canada.
• Rest of the world (18.1% of Group revenue): Sales at constant scope of consolidation and exchange rates grew by +2.3% in the first half.
  In Asia-Pacific (12.2% of Group revenue), first-half sales were up +3.3%, including a strong +9.3% increase in the second quarter. Over the period, the Group delivered significant growth in India, Australia and several other Asian countries, while activity in China remained subdued.
  In Africa and the Middle East (2.9% of Group revenue), revenue rose by +4.1% in the first half, with a decline of -3.8% in the second quarter. Over the first half, revenue growth in the Middle East, despite the geopolitical environment, more than offset a decline in Africa.
  In South America (3.0% of Group revenue), sales declined by -3.3% in the first half of the year, while increasing by +3.8% in the second quarter.

Adjusted operating profit and margin

Adjusted operating profit stood at €1,123.6 million, up +12.0% from the first half of 2025. This corresponds to an adjusted operating margin equal to 20.8% of sales, slightly down compared to the first half of 2025.

In the first half of 2026, EBITDA represented 23.4% of sales.

Despite inflationary pressure on its cost base, the Group maintained a high level of profitability in the first half. This was supported by strong execution and adaptability, including effective pricing and cost productivity, as well as the contribution from recent acquisitions.

Value creation

Net profit attributable to the Group came to €698.2 million in the first half, up +11.2% from the first half of 2025 and equal to 12.9% of sales. This increase was driven primarily by higher operating profit, a lower corporate income tax rate of 27.5%, and the negative evolution of the financial result.

Free cash flow represented 9.0% of sales for the period, totalling €488.3 million.

Performance and positioning in datacenters

The Group’s strong organic growth in the first half was driven in particular by its datacenter business, which delivered organic growth of above +30% and now accounts for 32% of Legrand’s revenue.

Legrand has built one of the broadest offering of the industry, spanning on-site power generation and facility testing. Its portfolio includes more than 140,000 product references and a growing range of services, including engineering services, on-site support, testing and commissioning. The Group is particularly well positioned to support the development of high-density AI datacenters through scalable, highly engineered solutions tailored to the specific needs of hyperscalers, colocation, neocloud providers and enterprise customers.

Legrand supports its customers’ growth by focusing on product innovation and operational excellence -in particular by optimizing its supply chain- and pursues an active acquisitions strategy to strengthen its product offering and geographic footprint.

Sustained acquisition momentum

Legrand continues to actively execute its development strategy with the acquisition announced today of Axel Health1, a Finnish leading provider in connected health for patient flow management solutions. Headquartered in Espoo, Finland, the company employs around 50 people and generates annual revenue of approximately €10 million. Following the acquisitions of Enovation and Performation in the Netherlands, Axel Health marks further expansion of Legrand Care’s connected health solutions.

This acquisition follows six transactions previously announced since the beginning of the year in the datacenter and energy transition markets:

• Green4T, a Brazilian specialist in the installation, maintenance and operation of technical infrastructure for datacenters with annual sales of around €45 million;
• Kratos Industries, a U.S. specialist in low- and medium-voltage power distribution systems with annual sales of around $100 million;
• Keydak, a leading Chinese rack manufacturer with annual revenue of over €60 million;
• TES, a European specialist in power distribution systems with close to €85 million in annual revenue;
• SRS Power Engineering, a Malaysian specialist in low- and medium-voltage power protection solutions, primarily for datacenters and industrial applications, generating annual revenue of around €90 million;
• Girtz Industries, a U.S. specialist in the design of highly customized modular power integration solutions (Power Pods), as well as testing and technical services with annual sales of around $80 million.

Focused on the energy and digital transition sectors (datacenters, energy transition and digital lifestyles), these transactions further strengthen the Group’s leadership positions in these high-growth markets and together add approximately €450 million in annual revenue.

Numerous product innovations

The Group has launched numerous products since the beginning of the year, illustrating its innovation momentum. Examples include:

• Essential infrastructure solutions: the premium Living Now wiring-device range (Italy), the renewed Neptune range (France), new Mylinc finishes (India), the Great White range (Australia and New Zealand), HP2 Curves and Incline™ lighting solutions for North American commercial markets, Linkeo C+ LAN connectivity solutions, and Super Value Emergency Lighting solutions in Latin America and Southeast Asia;
• Energy and digital transition solutions:
  • Datacenters: meter configuration power adapters, optical transceivers, the new Nodegrid Serial Console infrastructure management equipment, the CX4 hybrid 4-in-1 outlet, HD dry transformers, and the next generation of Dominion KXIII KVM solutions;
  • Energy transition: the new DLM Native lighting control solutions (United States), KNX user interfaces, the multi-circuit energy meter, R300 fuse holders, next-generation Level 2 EV chargers, and Green’Up Control;
  • Digital lifestyles: the new Classe 300X door-entry systems, Magellan sensors, Original outdoor cameras, and Linea 2000L entrance panels.

The consolidated financial statements for the first half of 2026 were subject to a limited review by the Group’s auditors and were adopted by the Board of Directors at its meeting on July 28, 2026. These consolidated financial statements, a presentation of 2026 first-half results, and the related teleconference (live and replay) are available at www.legrand.com.

Key financial dates

• Capital Markets Day in Singapore : September 29, 2026
• 2026 nine-month results : November 5, 2026
  “Quiet period1” starts : October 6, 2026
• 2026 annual results : February 10, 2027
  “Quiet period1” starts : January 11, 2027

About Legrand

Legrand is the global specialist in electrical and digital building infrastructures. Its comprehensive offering of solutions for residential, commercial, and datacenter 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 with electrical, digital infrastructures and connected solutions that are simple, innovative and sustainable.

Drawing on an approach that involves all teams and stakeholders, Legrand is pursuing a strategy of profitable and responsible growth driven by acquisitions and innovation, with a steady flow of new offerings that include products with enhanced value in use.

Legrand reported sales of €9.5 billion in 2025. The company is listed on Euronext Paris and is a component stock of the CAC 40, CAC 40 ESG and CAC Transition Climat indexes (code ISIN FR0010307819).

https://www.legrand.com

Appendices

Glossary

Working capital requirement: Working capital requirement is defined as the sum of trade receivables, inventories, other current assets, income tax receivables and short-term deferred tax assets, less the sum of trade payables, other current liabilities, income tax payables, short-term provisions and short-term deferred tax liabilities.

Free cash flow: Free cash flow is defined as the sum of net cash from operating activities and net proceeds from sales of fixed and financial assets, less capital expenditure and capitalized development costs.

Organic growth: Organic growth is defined as the change in sales at constant structure (scope of consolidation) and exchange rates.

Net financial debt: Net financial debt is defined as the sum of short-term borrowings and long-term borrowings, less cash and cash equivalents and marketable securities.

EBITDA: EBITDA is defined as operating profit plus depreciation and impairment of tangible assets, amortization and impairment of intangible assets (including capitalized development costs) and impairment of goodwill.

Cash flow from operations: Cash flow from operations is defined as net cash from operating activities excluding changes in working capital requirement.

Adjusted operating profit: Adjusted operating profit is defined as operating profit adjusted for amortization and depreciation of revaluation of assets at the time of acquisitions and for other P&L impacts relating to acquisitions, and where applicable, impairment of goodwill.

CSR: Corporate Social Responsibility.

Payout: Payout is defined as the ratio between the proposed dividend per share for a given year, divided by the net profit attributable to the Group per share of the same year, calculated on the basis of the average number of ordinary shares at December 31 of that year, excluding shares held in treasury.

Calculation of working capital requirement

Calculation of net financial debt

Reconciliation of adjusted operating profit with profit for the period

Reconciliation of EBITDA with profit for the period

Reconciliation of cash flow from operations and free cash flow with profit for the period

Scope of consolidation

Disclaimer

This press release may contain forward-looking statements, relating to Legrand's financial situation as well as certain sustainability issues relevant to its activities, which are not historical data. Although Legrand considers these statements to be based on reasonable hypothesis and assumptions at the time of publication of this document, they are subject to various risks and uncertainties that could cause actual results to differ from those expressed or implied herein.

Details on risks are provided in the most recent version of Legrand Universal Registration Document filed with the Autorité des marchés financiers (French Financial Markets Authority, AMF), which is available on-line on the websites of both AMF (www.amf-france.org) and Legrand (www.legrand.com).

Investors and holders of Legrand securities are reminded that no forward-looking statement contained in this press release is or should be construed as a promise or a guarantee of actual results by Legrand or anyone else which are liable to differ significantly. Therefore, such statements should be used with caution taking into account their inherent uncertainty.

The forward-looking statements contained in this press release are only valid on the date of its publication. Subject to applicable regulations. Legrand does not undertake to update these statements to reflect events, information or circumstances occurring after the date of publication of this release.

This press release does not constitute an offer to sell or a solicitation of an offer to buy Legrand securities in any jurisdiction.

Readers are invited to verify the authenticity of Legrand press releases with the CertiDox app. Learn more at www.certidox.com

View source version on businesswire.com: https://www.businesswire.com/news/home/20260728474035/en/

Investor relations & financial communication
Ronan MARC (Legrand) +33 1 49 72 53 53 [email protected]

Press relations
Delphine CAMILLERI (Legrand) + 33 5 55 06 70 15 [email protected]

Source: Legrand

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