Legrand : Feedback roadshow : une confiance prudente
>La faiblesse de la marge T4 2019 s’explique par une base de comparaison exigeante - Nous ne revenons pas sur le détail des résultats (cf. page 2 de ce flash ou notre flash de Jeudi « Un bon T4 en termes de croissance, des objectifs 2020 prudents »).Nous comprenons que la déception sur la marge d’EBIT ajusté T4 (-60 pb à 18.9%) s’explique par la dilution des acquisitions (-60 pb) et par un effet de base exigeant, notamment sur l’Europe. Le groupe estime ne pas av...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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