Legrand : Q1 surprises on the upside, the group remains cautious
>Q1: 13% of organic sales growth - Legrand yesterday reported Q1 2021 results 20% ahead of expectations at the adjusted EBIT level. Q1 2021 sales reflected growth of 13.1% on an organic basis vs a consensus forecast of 2.9%. The group underscored the strong showing in France (around +20%) and in Italy for Europe. The adjusted EBIT margin improved by 300bp to 21.6% (vs +90bp forecast by the consensus).Restructuring costs totalled € 13m in Q1 after € 76m ...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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