In the first half of 2023, Legrand demonstrated resilience in a contracting building market, achieving solid results. Sales grew by 4.9% (or 6.0% excluding exchange rates), and the adjusted operating margin reached 22.2% of sales. Net earnings per share rose by 19.0%, and the company generated €813.8 million in free cash flow, equivalent to 18.9% of sales.
Due to its strong performance, Legrand has revised its full-year targets for 2023. The new targets include a sales growth of 5% to 8% (excluding exchange rates and Russia) and an adjusted operating margin of approximately 20.5% of sales, before considering acquisitions and Russia.