Legrand (LR) AGM 2026 summary

Opening remarks and agenda

• Welcomed shareholders, marking 20 years since IPO and 165 years since founding.

• Outlined agenda: strategic model, financial and CSR performance, governance, compensation, auditor reports, Q&A, and voting.

• Confirmed quorum at 80.87% and compliance with French law for meeting proceedings.

Financial performance review

• 2025 net sales grew 13.1% to €9.5bn, with 7.7% organic and 5.1% external growth, driven by data centers (+40% organic growth).

• Adjusted operating margin reached 20.7%, with strong cash generation (107% conversion rate).

• Net profit attributable to the group reached €1.2bn, free cash flow €1.3bn, net debt/EBITDA at 1.9x.

• Five-year growth: sales +63%, benefits +86%, average margin 20.6%.

• 2026 Q1 sales up 18.3% (excl. FX), net profit up 14.2%.

Strategic initiatives and plans

• 2030 targets: €15bn sales, >20% EBIT margin, €10bn free cash flow, €5bn M&A investment, 50% net income payout.

• Focus on data centers, energy transition, digital lifestyle, and eco-responsible products, with 53% of 2025 sales from energy and digital transition.

• 35 acquisitions since 2020, €5bn invested, 75% of acquired sales in energy/digital transition.

• AI leveraged for productivity, customer support, and product data management, with over 200 use cases and 6,000 employees trained.

• Sustained innovation with ~5% of sales invested in R&D and 2,800 people in R&D roles.