Legrand : Strong EBIT resilience in Q4, cautious line on 2021 isn’t a source of concern
>Q4 disappointed on the decline in sales but reassured on the EBIT margin - Legrand's Q4 2020 results, reported yesterday, missed expectations for the top line but were better on the adjusted EBIT margin. Q4 2020 adjusted EBIT came in 1% ahead of expectations.Sales for Q4 alone showed a decline of 5.1% on an organic basis vs -3.4% for the consensus. The main disappointment came from the US, which posted Q4 growth of -10.7% l-f-l, i.e. with no sign of improvement....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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