Legrand: earnings beat and FY25 outlook provide reassurance
Legrand’s Q4 results delivered a strong beat for both organic growth (+6.2% vs css +2.6%) and adj. EBIT margin (20.7% vs css 19.7%). The surprise appears largely driven by an acceleration in data centre growth, as the construction drag seems to persist. Data centre business now accounts for 20% ofLegrand 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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