Legrand : H1 was disappointing, but the mix is at least as much to blame as Legrand
>H1 results show just how big an impact the geomix had… - On Friday, Legrand reported H1 2020 results that came in a shade above forecasts, notably with an organic sales decline of 15.2% (consensus at -16.9% and ODDO BHF at -16%).The adjusted EBIT margin contracted by 300bp, vs a 340bp contraction forecast by the consensus. However, it includes a favourable 40bp impact from acquisitions (Universal Electric). Note that EBIT includes € 40m in restructuring cos...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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