LLegrandExecutive Cockpit

Legrand · Strategic Command Center

One executive screen — the whole group in one pane: KPIs, smart alerts, the exhibits, the operations heatmap, and what's on track. Every figure live off the governed dataset.

Legrand SA · FY2025 (31 Dec 2025, audited)
The global specialist in electrical & digital building infrastructures
39,600 employees · 50+ manufacturing & logistics sites · 90 countries
Executive read· the answer, then the moves

Revenue €9,481 M (organic ▲7.7%) and €1,962 M adjusted operating profit at 20.7% margin keep the plan on track — datacenter is the engine (€2,400 M, 26% of sales, ~+40% organic) and 2 of 7 brands are still integrating. Compound the +€1,865 M of EBITDA already built as brands scaled by finishing the datacenter M&A integration and growing the software & services mix.

7 of 8 headline metrics improving vs prior · still off target: Total Revenue €9.5 bn vs €10.4 bn, Adjusted Operating Profit €2.0 bn vs €2.1 bn, Software & Services Revenue €1.4 bn vs €1.7 bn

Do now — ranked by urgency
  1. 1
    Integrate the in-flight datacenter M&A brandsWatch
    Why it matters

    2 of 7 brands (Netatmo · Eliot connected, Avtron · Kratos · ZPE datacenter M&A) are still integrating; the +€1,865 M of EBITDA built so far is the prize that compounds as the datacenter integration completes.

    What's driving it
    • 2 of 7 brands not yet fully integrated
    • +€1,865 M EBITDA uplift built since each brand scaled
    FYI
    • Revenue €9,481 M organic ▲7.7%; adjusted operating margin 20.7%
    • Owner: CEO · Benoît Coquart
  2. 2
    Pull DSO and inventory days back to targetWatch
    Why it matters

    DSO at 62d (datacenter project terms lengthen the tail) ties up cash that funds the bolt-on M&A pipeline; net debt/EBITDA is 1.9x against a ~3.0× ceiling.

    What's driving it
    • DSO 62d
    • Net debt/EBITDA 1.9x
    • 0 of 10 board goals off On-track
    FYI
    • Subscription retention 112%; software & services mix 15%
    • 8 smart alerts flagged across 4 geographies
  3. 3
    Residential & building markets still mutedWatch
    Why it matters

    Lean on datacenter + US electrification; connected-product attach to lift residential value.

    What's driving it
    • End-market mix
    • Signal: Alert
    FYI

    Europe grew only +1.9% organic; residential remains the ballast pending a 2026 recovery.

  4. 4
    Reported vs adjusted margins — keep them distinctWatch
    Why it matters

    Headline the adjusted margin; explain the acquisition-amortisation bridge to reported profit.

    What's driving it
    • Margin bridge
    • Signal: Alert
    FYI

    Adjusted operating 20.7% ≠ reported operating 19.1% ≠ net 13.1%; the €154 m bridge is acquisition amortisation.

Datacenter-led growthStep 3 of 7 · is the consolidated group on track?Value Creation PlanFinance 360All journeys
🌐 Enterprise 360 modules· on Enterprise 360Browse all 31 views ▾
Total Revenue
€9.5 bn
▲ 9.6% vs priorTarget €10.4 bn
Adjusted Operating Profit
€2.0 bn
▲ 10.5% vs priorTarget €2.1 bn
Net Income (Group share)
€1.2 bn
▲ 6.8% vs priorTarget €1.4 bn
Free Cash Flow
€1.3 bn
▲ 3.1% vs priorTarget €1.4 bn
Adjusted Operating Margin
20.7%
▲ 1.0% vs priorTarget 21.0%
Software & Services Revenue
€1.4 bn
▲ 16.7% vs priorTarget €1.7 bn
Datacenter Revenue
€2.4 bn
▲ 20.0% vs priorTarget €3.0 bn
Organic Sales Growth
7.7%
▲ 16.7% vs priorTarget 7.0%
Net Debt / EBITDA
1.9x
▲ 26.7% vs priorTarget 3.0x
Market Capitalisation
€40.0 bn
▲ 33.3% vs priorNo target
Bolt-on M&A Pipeline (annualised revenue)
€500 M
▲ 11.1% vs priorTarget €600 M
DSO (Days Sales Outstanding)
62d
▼ 4.6% vs priorTarget 55d
Smart Alerts

Flagged issues that need attention

Automatically detected and persona-routed — click any alert to open the 360 that owns it and act.

ceo · Datacenter RevenueOpportunity
Datacenter is the growth engine
Datacenter revenue €2,400 M (26% of sales) growing ~+40% organic (>50% in the US); order book 'particularly promising'.
Do: Add critical-power / busway / cooling capacity; scale Raritan · Server Technology · Starline · Avtron.
ceo · End-market mixWatch
Residential & building markets still muted
Europe grew only +1.9% organic; residential remains the ballast pending a 2026 recovery.
Do: Lean on datacenter + US electrification; connected-product attach to lift residential value.
cfo · Net Debt / EBITDAWatch
Net debt up +40% on M&A
Net financial debt €4,223 M (from €3,006 M) → leverage 1.9× (was ~1.5×); still investment-grade vs ~3.0× ceiling.
Do: Fund the bolt-on pipeline from FCF (€1,331 M, 107% conversion); keep leverage well inside the ceiling.
cfo · Adjusted Operating MarginOpportunity
Adjusted margin held above 20%
Adjusted operating margin 20.7% (+0.2 pt), 20.6% before acquisitions — margin held even after diluting in new businesses.
Do: Sustain pricing & productivity to offset copper and the ~$100 m tariff cost.
cfo · Currency impactWatch
FX (€/$) a ~−3% drag on reported growth
A stronger euro cut reported growth to +9.6% vs +13% ex-FX; ~85% of sales are international.
Do: Natural hedging via local production (US, India, China); report ex-FX to show underlying momentum.
board · Market CapitalisationOpportunity
Market cap re-rated to ~€40 bn
The AI/datacenter story re-rated the stock from ~€25–30 bn to ~€40 bn; 2026 high ~€157.
Do: Communicate the 'Ambitions 2030' path (~€15 bn sales, >20% margin) to sustain the multiple.
board · M&A scope growthOpportunity
Bolt-on M&A machine compounding
7 FY2025 deals (~€500 m annualised revenue), +5.1% scope growth; ~30 datacenter acquisitions to date.
Do: Keep ~7 self-funded deals/yr in datacenter & energy transition; realize integration synergies.
board · Margin bridgeWatch
Reported vs adjusted margins — keep them distinct
Adjusted operating 20.7% ≠ reported operating 19.1% ≠ net 13.1%; the €154 m bridge is acquisition amortisation.
Do: Headline the adjusted margin; explain the acquisition-amortisation bridge to reported profit.
Exhibit 1

Revenue & adjusted operating profit — monthly trend

Consolidated, all product families (€M) · €9,481 M revenue · 20.7% adj. op. margin

Exhibit 2

Revenue share by product family

Wiring Devices & Controls · Energy Distribution & Cable Management · Building & Connected Systems · Datacenter & Power Infrastructure

Wiring Devices & Controls27%
Datacenter & Power Infrastructure25%
Building & Connected Systems24%
Energy Distribution & Cable Management23%
Exhibit 3

Geography performance

Click into Org Roll-up 360 to drill geography → family → plant

RegionSitesRevenueShareStatus
North & Central America6€4,001 M42.2%On track
Europe5€3,600 M38.0%On track
Asia-Pacific3€1,195 M12.6%On track
Rest of World2€685 M7.2%Watch
Drill the roll-up →
Exhibit 4

Brands — revenue & state

+€1,865 M EBITDA built as brands scaled

Green = integrated · amber = in progress · red = early. Brands & Products 360 →

Exhibit 5

KPI scorecard — actual vs target

Board-approved targets; current values auto-calculated from live data

ObjectiveKPICurrentTargetProgressStatus
Grow datacenter revenue toward ~30% of salesDatacenter revenue2400€M3000€M
80%
On track
Sustain datacenter organic growth (critical power, busway, cooling)Datacenter organic growth40%35%
114%
On track
Grow software & services revenueSoftware & services revenue1400€M1700€M
82%
On track
Lift the software & services mixSoftware & services mix15%18%
83%
On track
Deepen connected / subscription retentionNet revenue retention112%115%
97%
On track
Add ~€500 m annualised revenue via self-funded bolt-onsM&A pipeline revenue500€M600€M
83%
On track
Realize integration synergies from FY2025 dealsIntegration synergy realization78%100%
78%
On track
Hold adjusted operating margin above 20%Adjusted operating margin20.7%21%
99%
On track
Keep investment-grade leverage while funding M&ANet debt / EBITDA1.9x1.5x
79%
On track
Convert profit to free cash flowFree cash flow1331€M1450€M
92%
On track
Operations Heatmap

The footprint at a glance

Each dot is a plant or site. Colour = operational health (green = healthy · amber = watch · red = at risk). Hover for detail; open Plants & Supply Chain 360 to act on one.

North America — manufacturing & logistics · 12 sites
HealthyWatchAt riskHQ
International sites · Europe · Asia-Pacific · Rest of World
Limoges, France (Group HQ · wiring devices) (Europe)€1.4 bn
France — other plants (Fontaine · Antibes · Sainte-Marie) (Europe)€700 M
Varese / Erba, Italy (Bticino — design & systems) (Europe)€700 M
Nashik, India (mega-plant + 6 facilities & 3 R&D) (Asia-Pacific)€500 M
Huizhou & Shanghai, China (plants) (Asia-Pacific)€500 M
Vicenza, Italy (Zucchini — busbar / busway) (Europe)€400 M
Boulogne-Billancourt, France (Netatmo — connected home) (Europe)€400 M
Middle East & Africa (hubs) (Rest of World)€350 M
São Paulo, Brazil (Green4T · Cemar — datacenter & energy) (Rest of World)€335 M
Australia / SE Asia (CRS · Linkk — datacenter M&A) (Asia-Pacific)€195 M
Execution Hub · Action items

What needs a decision

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