Legrand : Q1 sales already down sharply and April instils fear (-41%)
>Sales decline of -7.3% in organic terms, EBIT margin -110bp - Legrand's Q1 2020 results, reported this morning, fell short of expectations, with an organic sales decline of 7.3% (consensus at -5.1% and ODDO BHF at -0.4%). By region, growth fell by 5.1% in Europe and the group was in decline in France, Italy, the UK, Spain, while sales grew in eastern Europe, Germany and the Netherlands. In North and Central America, the decline came to -4.2% in Q1, and -17.2% in...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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