Legrand : A mixed Q3, with persistently negative volumes and a good margin level
>Volumes remained negative in Q3, despite a less demanding base effect - Yesterday morning (see our Equity Flash), Legrand reported Q3 results in line with expectations but with organic growth that was not as good as expected and an operating margin that topped expectations. Over Q3, organic sales growth reached just 1.8% (consensus at 3.4%), of which -1.3% of volumes and 3.1% of pricing. Over 9M 2023, volumes were down 2.2% and prices rose by 5.9%. This volume t...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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