Legrand has recorded a steady increase in sales in Q3 2024, driven by growth in datacenter markets and recent acquisitions. Despite a challenging global market, the company maintained strong margins and demonstrated resilience through dynamic expansion, particularly in the datacenter sector.
Legrand’s Q3 sales fell in Europe by 4.1% year-over-year but were outpaced by a rise in North and Central America (+6.0%) and the rest of the world (+3.9%).
Concerning Europe, the company cited “a particularly deteriorated context in mature countries during the quarter,” noting that there is no indication of “a recovery in the construction market in the very short term.” Also noteworthy was the €43 million fine recently imposed by the French Competition Authority. Legrand stated that the company “categorically rejects the allegation made against it and reserves the right to appeal this decision.”
Datacenter acquisitions drove the increase in sales in the U.S., which offset declines in both Canada and Mexico.
CEO Benoît Coquart emphasized Legrand’s commitment to its long-term goals, supported by the growing fields of energy and digital transition. With full-year targets confirmed, Legrand continues to follow its strategic roadmap, aiming for sustainable growth and ongoing progress in its corporate social responsibility efforts.
View the full press release of Legrand’s Q3 results below.