Legrand’s Q4 19 results beat expectations, with a higher-than-expected organic growth of 2.6% and FCF of €1,1010m. Despite a tough macro environment, Legrand ended the year with a good performance. Management reaffirmed its ambition to become a “strategic player” in connected buildings. The 2020 guidance is wide (cautious), though in line with our current estimates which are within at the mid-point. It trades on high levels, which might be seen as expensive, but the dig
13 Feb 2020
Soft 2020 guidance
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Soft 2020 guidance
Legrand SA (LR:WBO) | 0 0 0.6% | Mkt Cap: 16,627m
- Published:
13 Feb 2020 -
Author:
Luis Pereira -
Pages:
3
Legrand’s Q4 19 results beat expectations, with a higher-than-expected organic growth of 2.6% and FCF of €1,1010m. Despite a tough macro environment, Legrand ended the year with a good performance. Management reaffirmed its ambition to become a “strategic player” in connected buildings. The 2020 guidance is wide (cautious), though in line with our current estimates which are within at the mid-point. It trades on high levels, which might be seen as expensive, but the dig