Legrand : After an excellent Q4 2018, the mix, acquisitions and comparison base effects should put a drag on 2019
>An excellent Q4, thanks to France and Italy - The group posted organic sales growth of 5.2% in Q4 (consensus at 2.9%), of which +4% in France (vs -1.9% forecast). The adjusted EBITA margin rose 60bp to 19.5% (vs +10bp forecast) and the main difference came from France. See page 2 for further details.Key points in the conference call - The CEO and CFO held a conference call yesterday, the main takeaways from which are as follows:France. The sudd...Legrand 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).
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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