Legrand’s Q1 figures were soft and Q2 will be worse. We remain confident of the company’s ability to protect its profitability as c.50% of costs are variable, which offers some agility in the event of a sustained fall in volumes. We, nevertheless, remain prudent in the coming quarters given the current low visibility we have and the fact that a third of profits are located in France and Italy.
07 May 2020
Solid FCF, but bigger hit expected in Q2
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Solid FCF, but bigger hit expected in Q2
Legrand SA (LR:WBO) | 0 0 0.6% | Mkt Cap: 16,627m
- Published:
07 May 2020 -
Author:
Luis Pereira -
Pages:
2
Legrand’s Q1 figures were soft and Q2 will be worse. We remain confident of the company’s ability to protect its profitability as c.50% of costs are variable, which offers some agility in the event of a sustained fall in volumes. We, nevertheless, remain prudent in the coming quarters given the current low visibility we have and the fact that a third of profits are located in France and Italy.