The portfolio lens — each brand cohort's revenue, margin journey, integration and software & services mix as Legrand scales its datacenter, connected and energy-transition brands.
The multi-brand portfolio is working — €2.0 bn of brand EBITDA and 83% of the synergy plan banked — but 2 integrating brands (€1.7 bn revenue) still hold blended margin back. Finish their integration to close the gap to a fully synergized portfolio, the highest-return work in the company.
4 of 4 headline metrics improving vs prior · still off target: M&A Integration / Synergy Realization 78.0% vs 100.0%, DSO (Days Sales Outstanding) 62d vs 55d, Software & Services Mix % 15.0% vs 18.0%
Datacenter M&A is the least-integrated brand on synergy capture; a 90-day plan on the gap is unrealized EBITDA.
Avg synergy capture is only 83% of plan; the unrealized balance is margin already in the deal thesis but not yet earned.
Fund the bolt-on pipeline from FCF (€1,331 M, 107% conversion); keep leverage well inside the ceiling.
Net financial debt €4,223 M (from €3,006 M) → leverage 1.9× (was ~1.5×); still investment-grade vs ~3.0× ceiling.
Natural hedging via local production (US, India, China); report ex-FX to show underlying momentum.
A stronger euro cut reported growth to +9.6% vs +13% ex-FX; ~85% of sales are international.
Legrand is built brand by brand — the Legrand core (wiring devices), Cablofil (cable management), Numeric & Zucchini (power & busway), Bticino (building systems), Netatmo & Eliot (connected), the Raritan / Server Technology / Starline datacenter portfolio, and the recent datacenter-M&A brands. This view shows, for each brand cohort, where its margin started vs what it earns now — and flags the integrating brands where richer software & services mix, faster cash and higher margin are still on the table.
Integrating the 2 in-flight brands (Connected, Datacenter M&A) closes the gap to a fully synergized portfolio — the single highest-return work in the company.
Each card: how the margin has moved since the brand joined, how far integration has gone, and the next move.
Each brand ranked within the set on five KPIs (direction per metric), then a composite Overall Rank from summed rank points — the dashboard's RANKX leaderboard. Top & bottom highlighted.
| Overall | Unit | Revenue↑ better | EBITDA €M↑ better | Software & svcs↑ better | Synergy %↑ better | DSO gain↑ better | Rank pts |
|---|---|---|---|---|---|---|---|
| 1 | Wiring Devices & Controls | €2,600 M#1 | €559 M#1 | €120 M#4 | 96%#1 | 6d#1 | 8 |
| 2 | Datacenter | €1,700 M#2 | €383 M#2 | €260 M#2 | 86%#5 | 4d#3 | 14 |
| 3 | Cable Management | €1,100 M#4 | €220 M#4 | €40 M#7 | 92%#2 | 4d#3 | 20 |
| 4 | Building Systems | €1,281 M#3 | €237 M#3 | €110 M#5 | 90%#3 | 2d#7 | 21 |
| 4 | Power & Busway | €1,100 M#4 | €220 M#4 | €90 M#6 | 88%#4 | 4d#3 | 21 |
| 4 | Connected | €1,000 M#6 | €185 M#6 | €520 M#1 | 74%#6 | 5d#2 | 21 |
| 7 | Datacenter M&A | €700 M#7 | €158 M#7 | €160 M#3 | 55%#7 | 4d#3 | 27 |
Higher EBITDA, revenue, software & services revenue and synergy mix rank better; DSO gain = days of receivables improvement since the brand was acquired (more = better). Composite rank points are the sum of the five per-KPI ranks (lower = better).
As-acquired → current across EBITDA, DSO, integration and synergy mix.
| Brand / cohort | Since | Revenue | Software & svcs | EBITDA | DSO | Integrated | Synergy % | Status |
|---|---|---|---|---|---|---|---|---|
| Legrand (Wiring Devices & Controls) | 1865 | €2.6 bn | €120 M | 15% → €559 M | 66→60d | 100% | 96% | Integrated |
| Bticino (Building Systems) | 1989 | €1.3 bn | €110 M | 16% → €237 M | 60→58d | 97% | 90% | Integrated |
| Cablofil (Cable Management) | 2000 | €1.1 bn | €40 M | 12% → €220 M | 62→58d | 98% | 92% | Integrated |
| Numeric · Zucchini (Power & Busway) | 2010 | €1.1 bn | €90 M | 13% → €220 M | 64→60d | 95% | 88% | Integrated |
| Raritan · Server Technology · Starline (Datacenter) | 2015 | €1.7 bn | €260 M | 18% → €383 M | 70→66d | 92% | 86% | Integrated |
| Netatmo · Eliot (Connected) | 2018 | €1.0 bn | €520 M | 8% → €185 M | 55→50d | 84% | 74% | In progress |
| Avtron · Kratos · ZPE (Datacenter M&A) | 2024 | €700 M | €160 M | 15% → €158 M | 74→70d | 60% | 55% | In progress |