(BFM Stock Exchange) – The electric infrastructure specialist occupies the highest increase in CAC 40 this Thursday, February 13 after having unveiled an end of financial year 2024 greater than expectations, thanks to the dynamism of its activity of electrical equipment for data centers . The objectives announced by the Management for 2025 are in line with expectations.

In November, Legrand had cleared the market after revealing results at nine months down and lower than expectations. His exhibition at a building market at half mast was detrimental to him. This disappointing publication was then accompanied by a lowering from the top of the range of operating margin for the whole of 2024.

But Legrand has resources. The electric infrastructure specialist has put double bites over the last three months of the year. Between October and late December, Legrand published an organic turnover – that is to say by excluding the effects of perimeter and exchange – 6.2%.

Acceleration of growth

From one quarter to the next, growth has also accelerated strongly compared to organic sales of 1.7% between July and late September. Better still, Legrand has literally exploded market expectations, since the consensus quoted by Oddo BHF, only hoped for an increase in income up 2.2% still in organic data in the fourth quarter.

The North and Central America area remains the group’s engine with an increase of 11.6% of the activity, including an increase of 13.6% of turnover in the United States in the fourth quarter alone. The group also explodes the meters, the consensus awaited an increase of only 4.9% of the activity in this area, thanks in particular to the datacenters (of data centers).

Regarding the other lines of the income statement, the operating profit (EBIT) adjusted in the fourth quarter reached 500 million euros. This indicator has exceeded expectations, housed at 450 million euros, Note Royal Bank of Canada.

A strong increased margin

The corresponding margin jumped heavily over a year, from 19.3% in the fourth quarter of 2023 to 20.7% a year later. This rate is also largely above the consensus quoted by Oddo BHF (19.6%).

“Europe was the most efficient region with a margin of 24.1% (360 base points above the consensus), while the North and Central America margin was 90 basic points (0 , 9 percentage point) and the margin remains of the lower world of 150 base points (1.5 percentage point “, note RBC.

“Legrand achieves a fourth trimester of excellent invoice, with organic growth of its turnover of 6.2%, an adjusted operating margin of 20.7% and a free cash flow (cash flow) of 541 million ‘euros, “said Benoît Coquart, the group’s general manager.

“This quarter concludes in a good way a year 2024 where, despite a building market generally depressed in most of its geographies, the group will have recorded new growth in its turnover and very good results,” said -Al continued.

Indeed, thanks to this tonic end of the year, Legrand unveiled accounts on the whole of 2024.

Over the period, the infrastructure specialist achieved a turnover up 2.8% over a year, reaching 8.65 billion euros. In organic data, the increase stands at 1%. The group’s net profit share is increased by 1.6% over one year to 1.166 billion euros and stands 4% above market expectations in 1.122 billion euros, according to Oddo BHF

“Online with expectations” perspectives.

After this “good end of the year”, the design office notes that Legrand announces 2025 “online perspectives with expectations”.

For 2025, Legrand predicts growth between 6% and 10%. The group specifies that this forecasting can be understood excluding exchange effects. “Since the group achieves 3-5% growth per acquisition, the objective set means that it provides for organic growth of around 4% in the middle of the range,” said Oddo BHF.

The margin of EBIT adjusted after acquisitions is expected stable compared to 2024, around 20.5%.

“For 2025, consensus anticipates 3.9% organic growth (2.8% by integrating the on -board effect of acquisitions) and 20.4% margin. It should slightly adjust its estimates according to us (1% ) “, advances Oddo BHF which maintains his opinion to” neutral “on the file as well as his lens of courses of 101 euros.

On the Paris Stock Exchange, the market applauds the publication of the specialist in electrical infrastructure. The Legrand title jumped 5.4% around 11:35 a.m., displaying the highest increase in CAC 40, this Thursday, February 13.