2012 first-quarter results
Sales up 4.8%
Adjusted operating margin at 20.4%
2012 targets confirmed
Gilles Schnepp, Chairman and CEO of Legrand, comments:
Group sales for the first quarter of 2012 showed a total rise of 4.8%, driven by an active acquisition policy that contributed 5.0%. Organic change in sales was -0.9% compared with very robust activity in the first quarter of 2011, particularly in France. Together, continued expansion in new economies, where organic growth was nearly 6%, and a rise in sales in the United States offset trends observed in most mature markets in Europe.
Adjusted operating income came to €222 million or 20.4% of sales (20.8% excluding acquisitions) reflecting the group’s ability to:
- take account of the rising cost of raw materials and components consumed in sales price management
- keep expenses under control thanks to responsive teams and ongoing productivity initiatives.
These achievements confirm the soundness of Legrand’s business model and its ability to adapt.