Finance |07.30.2021 06:45
2021 first-half results
Strong growth in sales and financial results in first half
Organic rise in sales: +22.6%
Adjusted operating margin: 22.0% of sales
Rise in net profit: +68%
Full-year 2021 targets revised
2 new acquisitions announced 1
Benoît Coquart, Legrand’s Chief Executive Officer, commented:
“Legrand reported first-half 2021 revenues of €3.5 billion, rising a steep +21.9% year on year and +7.0% over two years. This performance was driven primarily by organic growth in sales of +22.6% from the first half of 2020, or +3.9% over two years, and it confirmed:
- continued improvements in Legrand’s competitive positions in its markets; and
- our capacity to take full advantage of opportunities for growth in buoyant segments linked to the buildings of tomorrow.
Adjusted operating margin came to 22.0% of sales. Net profit also increased by a very good +68% from the first half of 2020.
These high-quality results and the success of initiatives deployed since the beginning of the health crisis testify to the relevance of Legrand’s unique model for profitable and responsible value creation.
Our Group has continued to strengthen its fundamentals by investing in innovation – including roll-out of a host of new products since the beginning of the year, among them the Classe 300 EOS with Netatmo connected door entry system and the wireless and battery-less connected switch – and announcing two new acquisitions in our core businesses as well as in electric mobility. We have also confirmed our ESG commitments with the publication of our latest materiality survey results and the SBTi 2's recent validation of our carbon emissions reduction trajectory, which is aligned on holding global warming to 1.5°C 3.»
1 Subject to standard conditions precedent for the acquisition of Ensto Building Systems.
2 The Science-Based Targets initiative (SBTi) creates a clearly-defined path and ambitious targets for private-sector businesses to limit global warming. For more information, visit https://sciencebasedtargets.org).
3 For more information, readers are referred to the press release dated July 2, 2020.