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LIMOGES, France, September 22, 2021--(BUSINESS WIRE)--Regulatory News:
Legrand (Paris:LR) is hosting a virtual Capital Markets Day on September 22, 2021, broadcast live from company headquarters in Limoges, France. On this occasion, the Executive Committee will review how the Group is accelerating its value creating growth.
I. A unique model focused on value creation
Benoît Coquart (CEO) and Franck Lemery (CFO) will provide insights into the pillars of Legrand’s unique model focused on value creation (leadership positions1, innovation, bolt-on2 acquisition strategy, proven management processes, entrepreneurial spirit and more), and will also review its front-running financial and ESG performance.
II. Accelerating growth initiatives
Benoît Coquart and Gloria Glang (EVP, Strategy and Development) will present the Group’s strategic roadmap.
Legrand is currently accelerating its profitable and responsible value creation by taking full advantage of the business cycle now getting under way. This includes a large number of initiatives designed to accelerate Legrand’s development, in particular in faster expanding segments – datacenters, the connected products offerings under the Eliot program, and energy efficiency solutions. The aim is to increase these segments’ contribution to Group sales from 31% in 2020 to 50% in the medium term.
Each of the Group’s three geographical regions illustrates one of its key strategic focuses:
- Frédéric Xerri (EVP Europe): Eliot in Europe,
- John Selldorff (CEO of Legrand North & Central America): energy efficiency programs in the United States, and
- Jean-Luc Cartet (EVP Asia Pacific, Africa, Middle East, South America): datacenters in the Rest of the world
III. Optimizing resources, fostering talent
Antoine Burel (Deputy CEO, COO) and Karine Alquier-Caro (Chief Purchasing Officer) will describe how Legrand is pursuing its focus on operation excellence.
Bénédicte Bahier (Chief Human Resources Officer) will highlight the many assets of Legrand’s corporate culture and structures, with notably an employee engagement rate of 80% in 2021, strongly progressing compared with 2017. She will also highlight the Group’s priorities for diversity, inclusion and talent.
IV. Confirming mid-term targets
Lastly, the day will be an opportunity for Legrand to confirm the mid-term targets it announced on February 11 this year3. Over a full economic cycle and excluding a major economic slowdown, the Group aims for:
- an average annual growth in sales, excluding exchange-rate effects, of between +5% and +10%,
- an average adjusted operating margin4 of approximately 20% of sales,
- a normalized free cash flow of between 13% and 15% of sales on average.
At the same time, Legrand will continue to deploy a bold and exemplary ESG approach, driven by demanding roadmaps, with a particular focus on the fight against global warming and the promotion of diversity. The fifth CSR roadmap will start in 2022 and will be led by Virginie Gatin (EVP CSR) who was recently appointed to the Executive Committee5.
The detailed presentation that will be shared during the event and a link to the webcast can be found on Legrand’s website at https://www.legrandgroup.com/en/investors-and-shareholders/investor-day/capital-markets-day-2021.
Key financial dates:
Capital Markets Day: September 22, 2021
2021 nine-month results: November 4, 2021
"Quiet period6" starts October 5, 2021
2021 annual results: February 10, 2022
"Quiet period1" starts January 11, 2022
General Meeting of Shareholders: May 25, 2022
Legrand is the global specialist in electrical and digital building infrastructures. Its comprehensive offering of solutions for commercial, industrial and residential 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 its strategy of profitable and sustainable growth driven by acquisitions and innovation, with a steady flow of new offerings—including Eliot* connected products with enhanced value in use. Legrand reported sales of €6.1 billion in 2020. The company is listed on Euronext Paris and is notably a component stock of the CAC 40 and CAC 40 ESG indexes. (code ISIN FR0010307819).
*Eliot is a program launched in 2015 by Legrand to speed up deployment of the Internet of Things in its offering. A result of the group’s innovation strategy, Eliot aims to develop connected and interoperable solutions that deliver lasting benefits to private individual users and professionals.
This press release may contain forward-looking statements which are not historical data. Although Legrand considers these statements to be based on reasonable assumptions at the time of publication of this release, 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 Legrand Universal Registration Document filed with the Autorité des marchés financiers (Financial Markets Authority, AMF), which is available on-line on the websites of both AMF (www.amf-france.org) and Legrand (www.legrandgroup.com).
No forward-looking statement contained in this press release is or should be construed as a promise or a guarantee of actual results, which are liable to differ significantly. Therefore, such statements should be used with caution, taking into account their inherent uncertainty.
Subject to applicable regulations, Legrand does not undertake to update these statements to reflect events 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 shares in any jurisdiction.
1 Ranked number 1 or 2 in a given geographical market and market segment.
2 Acquisitions that complement Legrand’s activities.
3 For more information, readers are referred to the press release dated February 11, 2021.
4 Including restructuring costs.
5 For more information, readers are referred to the press release dated September 2, 2021.
6 Period of time when all communication is suspended in the run-up to publication of results.
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