Legrand : Q1 confirms less favourable momentum for 2019
>A relatively weak Q1, with a 40bp decline in the adjusted EBITA margin - The group has posted organic sales growth of 2.9% for Q1 (ODDO BHF +3.5%, consensus +2.9%), of which +3.3% for the US and a decline in France, whilst Italy continues to report robust growth. Note that Legrand no longer publishes separate figures for France and Italy, regrouping the two divisions as well as the Rest of Europe in one single Europe division, reflecting its new organisation. The adj...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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