7.4% plus for Legrand in 1st quarter
Legrand generated a turnover of EUR 1,164.7 m in the 1st quarter 2015, which is 7.4% more than last year (EUR 1,084.3 m),….......
mostly thanks to favourable exchange rate effects (+6.5%) and very good turnover figures in North America, which have risen by very nearly 41%.
This means that the United States have developed into Legrand’s strongest market in terms of revenues. But it was not just in the USA that growth was possible, with Spain, Greece and Portugal as well as Eastern Europe making substantial gains, compensating for drops in other mature European countries, as well as in Russia and China.
Net profits rose by 1.9% from EUR 125 m to EUR 127.4 m. Net liabilities could be reduced from EUR 1,083 m last year to a current figure of EUR 867 m.
The end-of-year targets issued for 2015 (organic growth in sales of between -3% and +2% along with an adjusted operating margin before takeovers between 18.8% and 20.1% of sales) have been confirmed.
In addition to this, Legrand plans to continue its strategy of value-creating takeovers. Against this background the measuring instrument manufacturer IME in Italy and the switch board manufacturer Valrack in India were taken over at the beginning of May. Together these two companies, which employ over 400 people, will contribute a turnover of more than EUR 30 m.