Legrand: robust Q1 beat on datacentre strength, FY guidance intact
Legrand delivered a positive surprise versus consensus, posting robust organic growth of 7.6%, 270bps above the css of 4.9%, and adj. EBIT margin of 20.7%, up 20bps yoy and 30bps ahead of expectations. Most of the performance was driven by 20.2% growth in the US (38% of group sales) and in particulLegrand is a global specialist in electrical and digital building infrastructure based in France. Co. offers a full range of control-and-command, cable management, energy distribution and "Voice-Data-Image" products and systems which are suitable for the international commercial, industrial, and residential segments of the low voltage market. Co. markets its products under internationally recognized general brand names, including Legrand and Bticino. Each product group is marketed in all of Co.'s major geographic markets (France, Italy, Rest of Europe, USA/Canada and Rest of the World).
Since 1996, Bryan, Garnier & Co has been growing with an absolute conviction that the investment banking landscape would experience a major revolution: most of the large local generalist banking groups will disappear to the benefit of a handful of global powerhouses, and an emerging group of independent, highly specialised boutique investment banks.
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