Legrand (LR) CMD 2026 summary

Strategic roadmap and performance

• 2025 organic growth reached 7.7% and M&A growth 5.1%, above prior guidance; sales rose 13.2% and adjusted operating margin was 20.7%.

• From 2019 to 2025, sales grew 43%, adjusted operating margin expanded 70 bps and free cash flow totaled €7.2bn, or 15.1% of sales.

• Growth priorities include data centers, energy transition and essential infrastructure, supported by innovation, customer experience, pricing and disciplined acquisitions.

• Energy and digital transition represented 53% of sales in 2025, with a target of ~70% by 2030.

Data center strategy and technology

• Data center sales grew from below €1bn in 2021 to above €3bn in 2026; organic CAGR was 21% over 2021–26, and 15 acquisitions and more than 20 platforms expanded the business.

• The offering spans critical power, compute, monitoring and control, cooling, testing and lifecycle services, with global delivery and customer co-design across AC, OCP, hybrid and DC architectures.

• AI workloads are increasing rack densities and power demand; the roadmap includes LVDC architectures, liquid cooling and scalable solutions for gigawatt-scale data centers.

• DC transition is expected to proceed through rack power shelves, retrofit-friendly sidecars and upstream LVDC, with architectures coexisting; sidecar commercialization is targeted for 2027.

• A combined rear-door heat exchanger and direct-to-chip cooling solution is planned for 2027; rear-door heat exchangers can handle up to 140 kW per rack.

Regional development and Malaysia

• Malaysia data center capacity grew from below 100 MW to 1,300 MW, with projections of 2,500 MW by 2030 and 70% of demand expected to be AI-driven.

• Malaysia sales grew from $20m to $300m, with 65% from data centers and 30% from energy transition; sales are targeted to double by 2030.

• Acquisitions expanded local busway, critical-power, manufacturing and engineering capabilities; one-third of sales come from solutions assembled and tested locally.