Legrand SA
F:LRC0
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Legrand SA
F:LRC0
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Legrand SA
Legrand makes the electrical hardware that goes inside buildings: light switches, wall outlets, wiring devices, cable management systems, circuit protection, and controls for power, lighting, and data networks. It also sells products for data centers and other buildings that need organized power and connectivity. The company is a supplier to the “inside the wall” part of construction, where its products help move electricity, data, and signals safely and neatly through homes, offices, hospitals, and commercial sites. Its main customers are electrical wholesalers, contractors, installers, and building professionals who choose products for new construction, renovation, and maintenance work. Legrand sells these products through distributors, retailers, and project channels, so it usually makes money each time its equipment is specified, ordered, and installed. Demand is tied to building activity, upgrades, and the ongoing need to replace or expand electrical systems. What makes Legrand different is that it is not a power utility or a full building contractor; it is a specialized manufacturer of small but essential components that every building needs. Its products are often standardized, easy to replace, and bought repeatedly as buildings are updated. That gives Legrand a steady role in the building supply chain, where reliability, compatibility, and installer preference matter a lot.
Legrand makes the electrical hardware that goes inside buildings: light switches, wall outlets, wiring devices, cable management systems, circuit protection, and controls for power, lighting, and data networks. It also sells products for data centers and other buildings that need organized power and connectivity. The company is a supplier to the “inside the wall” part of construction, where its products help move electricity, data, and signals safely and neatly through homes, offices, hospitals, and commercial sites.
Its main customers are electrical wholesalers, contractors, installers, and building professionals who choose products for new construction, renovation, and maintenance work. Legrand sells these products through distributors, retailers, and project channels, so it usually makes money each time its equipment is specified, ordered, and installed. Demand is tied to building activity, upgrades, and the ongoing need to replace or expand electrical systems.
What makes Legrand different is that it is not a power utility or a full building contractor; it is a specialized manufacturer of small but essential components that every building needs. Its products are often standardized, easy to replace, and bought repeatedly as buildings are updated. That gives Legrand a steady role in the building supply chain, where reliability, compatibility, and installer preference matter a lot.
Record growth: Legrand said H1 2026 sales rose 17.4% excluding currency, with organic growth of 9.8% and acquisitions adding 6.9%.
Guidance raised: Full-year 2026 sales growth guidance was lifted to 16% to 19% from 10% to 15%, with organic growth now expected at 8% to 10%.
Data centers lead: Data center sales grew a little more than 30% in H1 and now make up 32% of revenue, with management saying demand remains very strong.
Margins steady: Adjusted operating margin was 20.8% in H1 and the company kept its full-year margin target unchanged at 20.5% to 21%.
Cash flow softer: Free cash flow was EUR 488 million, or 9% of sales, and management said H1 is usually weaker, with full-year cash conversion still expected to normalize.
M&A still active: Legrand has announced 7 acquisitions so far in 2026, focused on energy and digital transition, and said the pace should slow but deals will continue.
