Legrand : Le groupe a surpris sur la marge mais déçu sur la croissance organique
>Un T2 qui marque un recul en volume (-0.8%) mais la marge tient - Le groupe a affiché une croissance organique de son chiffre d’affaires de 1.5% sur le T2 (ODDO BHF à 2.2% et consensus à 2.1%), dont +2.7% pour les US, +2.4% en Europe et -1.4% dans la division Reste du Monde (fort recul au Moyen-Orient). La marge d’EBITA ajustée recule de 40 pb à 21.3% (vs -90 pb attendus par le consensus et -60 pb par nous). Le levier opérationnel a été de +30 pb, tandis que les acq...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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