Legrand with another record turnover and separation of the Group’s governance
Legrand achieved sales of EUR 5,520.8 million in 2017, which is 10% more than in the previous year at EUR 5,018.9 million. The operating profit amounted to EUR 1,025.6 million, 9.8% over 2016.
Sales in France increased by 3.2%, in Italy by 4.0% and in the rest of Europe by 5.5%. In North and Central America, it increased by 1.7% and in the rest of the world by 3.1%.
Net liabilities amounted to EUR 2,219.5 million, an increase of 131.9%.
In addition, it was decided to separate the tasks of the company leaders for more effectiveness from now on. Gilles Schnepp, who had been chairman of the board of directors and chief executive officer at Legrand for many years, proposed to separate the tasks himself, which was then decided.
Gilles Schnepp will from now on only act as chairman of the board, Benoît Coquart (45) will lead the company as CEO. Coquart has been with the company for over 20 years, making him a next-generation executive.