Legrand’s H1 sales marginally missed the consensus although organic growth came in 15% short. H1 revenue growth was positive across all regions and was driven by pricing, with volumes down in the first half. Adjusted operating profit, however, was higher than expected due to positive pricing along with cost initiatives. CFO was robust due to higher profits and the effective unwinding of working capital. This also boosted FCF generation. With another strong quarter, Legrand revised its 2023 sales ....
