2014 first-half results
Solid achievements in the first half of 2014:
Organic growth: +1.3%
Adjusted operating margin: 20.4% of sales
2014 targets confirmed
Gilles Schnepp, Chairman and CEO of Legrand, comments:
“Solid achievements in the first half of 2014
Sales in the first half of 2014, excluding the exchange-rate effect, were up +3.9%, with the broader scope of consolidation that resulted from acquisitions contributing +2.6% to growth and organic growth contributing +1.3%, reflecting the trend observed over the past 12 months.
New economies and many mature countries in Europe, notably in Southern Europe, reported a healthy organic rise over the first six months of the year.
Total sales including the exchange-rate effect were down -1.3%.
Adjusted operating margin as a percentage of sales improved, rising from 20.3% in the first half of 2013 to 20.6% excluding acquisitions in the first half of 2014 (20.4% including acquisitions). This robust operating performance reflects Legrand's will to pursue profitable, value-creative development underpinned by a large number of growth and productivity initiatives...
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