Legrand : With 17% EBITA growth in H1 2018, the growth story continues
>Q2 was of good quality, but not everything can be extrapolated - The group posted much-higher-than-expected organic growth in sales in Q2 at 6.5% (consensus 4.5%). Excluding the effect of acquisitions, the adjusted EBITA margin rose 70bp in Q2 (as in Q1) to 21.1%, and the dilutive impact of acquisitions came to -20bp. See page 2 for further details.Key points in the conference call - The CEO and CFO held a conference call yesterday, the main takeaway...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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